AFM362 Study Guide - Final Guide: Capital Asset, Income Splitting, Dividend Tax

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM362
• Professor: Ken Klassen

Document Summary

15th (sole prop) (later of 6mths after death and normal due date) Individuals only must file every year if: balance owing for that year, capital property disposed, non-resident individual has taxable capital gain, home buyer plan/lifelong learning plan is positive amount, return demanded by minister, they want refund, hst/gst credit. 15th of march, june, september, december with balance of tax due april 30th employer must withhold tax and then pay it to the government on your behalf. Ex. tax payable in current year 20k, how much was withheld by their employer: 5k. 20k -5k (how much they have paid this year through their employer) = 15k (how much they will need to pay), if the amount you need to pay is not more than , you don"t need to pay. Ccpc to be eligible: if they have taxable income of no more than ,000 and if they have max of.