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Canada Tax Free Allowance

  • The Tax-Free Savings Account - Canada.ca

    A Tax-Free Savings Account (TFSA) is a way for individuals who are 18 years or older to set money aside, tax free, throughout their lifetime. Rules for opening a TFSA account, how to determine the TFSA contribution room, make transfers and situations when tax is payable.
    https://www.canada.ca/en/revenue-agency/services/tax/ind...

  • Canada - Taxes on personal income

    Individuals resident in Canada are subject to Canadian income tax on worldwide income. Relief from double taxation is provided through Canada's international tax treaties, as well as via foreign tax credits and deductions for foreign taxes paid on income derived from non-Canadian sources.
    https://taxsummaries.pwc.com/ID/Canada-Individual-Taxes-...

  • Travel allowance - Canada.ca

    Whether an allowance for travel expenses is reasonable is a question of fact. You should compare the reasonable costs for travel expenses that you would expect your employee to incur against the allowance you pay to the employee for the trip. If the travel allowance is reasonable, you do not have to include it in your employee's income.
    https://www.canada.ca/en/revenue-agency/services/tax/bus...


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  • Canada Income Tax - International Taxes 2020

    Canada provides most taxpayers with an income tax allowance of $1,557, which can be kept as a tax-free personal allowance. Canada's tax credit is a basic wastable tax credit, non-tapered, available to all (single) taxpayers without dependents. A tax credit is a fixed amount of money that may be kept by taxpayers without paying any income taxes.
    http://world.tax-rates.org/canada/income-tax

  • Duty Free Limits for Canada Cross Border Shopping

    Use our Canada Customs Duty Rates, Tariffs and Taxes Chart to see how much duty you will have to pay to bring goods back to Canada from the U.S. that exceed your duty free allowance. You can also use our Canadian Duty Calculator to calculate duty and tax payable on 1,000's of other items. Duty Free Limits for Canada
    https://www.crossbordershopping.ca/duty-tax-import-guide...

  • Travellers - Residents returning to Canada

    The CBSA's Duty and Taxes Estimator provides an estimate only and applies strictly to goods imported for personal use by Canadian citizens and residents returning to Canada. The final amount of applicable duties and taxes may vary from the estimate and will be determined by a border services officer when you arrive at the border.
    https://www.cbsa-asfc.gc.ca/travel-voyage/ifcrc-rpcrc-en...



  • What you can bring home to Canada - Travel.gc.ca

    Global Affairs Canada may require permits andor impose an import quota on certain commodities. For more information, visit the Export and Import Controls Bureau section of the Global Affairs Canada website. Gifts. While you are outside Canada, you can send gifts free of duty and taxes to friends at home in Canada under certain conditions.
    https://travel.gc.ca/returning/customs/what-you-can-brin...

  • How To Keep The CRA Away From Your Severance Payment - Tax

    On the other hand, if your retiring allowance was received as a result of duking it out with your past employer, any legal fees incurred are deductible to the extent that the retiring allowance itself is not sheltered by transfers to a deferred income plan that is, the deduction is limited to the amount on which tax is paid.
    https://www.mondaq.com/canada/Tax/457478/How-To-Keep-The...

  • Reasonable per-kilometre allowance - Canada.ca

    If you pay your employee an allowance based on a per-kilometre rate that we consider reasonable, do not deduct CPP contributions, EI premiums, or income tax. The type of vehicle and the driving conditions usually determine whether we consider an allowance to be reasonable.
    https://www.canada.ca/en/revenue-agency/services/tax/bus...


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  • Automobile allowance rates - Canada.ca

    The automobile allowance rates for 2020 are: 59 per kilometre for the first 5,000 kilometres driven 53 per kilometre driven after that In the Northwest Territories, Yukon, and Nunavut, there is an additional 4 per kilometre allowed for travel. The automobile allowance rates for 2019 are: 58 per kilometre for the first 5,000 kilometres
    https://www.canada.ca/en/revenue-agency/services/tax/bus...

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