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Re: Taxes on income. Can. Q
Old 10-31-2006, 11:08 AM   #21
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Re: Taxes on income. Can. Q

You're welcome, My Dream!

One more thing: "enhanced" dividend tax credits came about in the 2006 Federal Budget. The companies must be public and Canadian. So this does not apply to dividends from small private corporations, e.g. my medical corporation.

The website I mentioned is easy to follow on current tax information and the Revenue Canada site is relatively easy to read too. Also consider looking up the Canadian Taxpayers Federation at
http://www.taxpayer.com/main/news.ph...d=1&topic_id=9

If you are a newbie to personal finance, David Chilton's The Wealthy Barber is not a bad place to start. If you have the basics and have the time and interest to learn a whole lot more about finance, take a look at the Canadian Securities Course (www.csi.ca).


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Re: Taxes on income. Can. Q
Old 10-31-2006, 11:45 AM   #22
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Re: Taxes on income. Can. Q

Quote:
Originally Posted by Meadbh
You're welcome, My Dream!

One more thing: "enhanced" dividend tax credits came about in the 2006 Federal Budget. The companies must be public and Canadian. So this does not apply to dividends from small private corporations, e.g. my medical corporation.

The website I mentioned is easy to follow on current tax information and the Revenue Canada site is relatively easy to read too. Also consider looking up the Canadian Taxpayers Federation at
http://www.taxpayer.com/main/news.ph...d=1&topic_id=9

If you are a newbie to personal finance, David Chilton's The Wealthy Barber is not a bad place to start. If you have the basics and have the time and interest to learn a whole lot more about finance, take a look at the Canadian Securities Course (www.csi.ca).


Funny you should mention that book since that is the only financial type book I have ever read in my life. I read it about 20 years ago and that was the changing point in my FI life. It taught me the value of saving and all about compound interest. Not being fully retired, I need to make the most of my money. I know right now, I'm not.
Thanks Meadbh
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Re: Taxes on income. Can. Q
Old 11-01-2006, 09:54 AM   #23
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Re: Taxes on income. Can. Q

Quote:
Originally Posted by My Dream


bosco , I also appreciate your explanation. I guess that this will probably be the only way I'm going to get a grasp of how the investment world works. I know it's going to take some time and I hope that some members can help along the way. To some of you this may be second nature, but to me it's a whole new world.

no problem, MD.

I'm still learning how to deal with the taxes systems of both countries. Although born in Canada, some 60% of my financial assets are in the US. The tax systems of the two countries are quite different. I find the following website

http://www.financialwebring.com/forum/

to be a much better source of information on Canadian taxes and investments than here. This site is mostly geared to the US. If you haven't checked the link, you might want to look into it.

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