Talk:Income taxes in Canada

From Wikipedia, the free encyclopedia

This article is within the scope of WikiProject Taxation, an effort to create, expand, organize, and improve tax-related articles to a feature-quality standard.
Assessment ratings and other indicators given below are used by the Project in prioritizing and managing its workload.
B This article has been rated as B-Class on the Project's quality scale.
High This article has been rated as High-priority on the Project's priority scale.
After rating the article, please provide a short summary on the article's comments page to explain your ratings and/or identify the strengths and weaknesses.
Canada Portal
This article is within the scope of WikiProject Canada and related WikiProjects, an attempt to build a comprehensive and detailed guide to articles on Canada-related topics. If you would like to participate, visit the project member page, to join the project and/or contribute to the discussion.
B This article has been rated as B-Class on the quality scale.
High This article has been rated as High-importance on the importance scale.
Governments of Canada
This article is part of the Governments of Canada WikiProject (Discuss/Join).
Canadian law
This article is part of the Canadian law WikiProject (Discuss/Join).
It is requested that a photograph or photographs be included in this article to improve its quality.

Wikipedians in Canada may be able to help!
The Free Image Search Tool (FIST) may be able to locate suitable images on Flickr and other web sites.

Contents

[edit] Huge project

This article is potentially a huge project that will take a great deal of time to do properly. The lack of detail is a bit embarassing to me as a Canadian. I will start adding to it as I have time. Taxee 21:41, 11 April 2006 (UTC)

Good for you.

Removed "* income used to pay interest on loans used for the purpose of taxable business investment." Strictly speaking, this is not true; interest on loans is deducted from taxable income, which can have important implications in certain circumstances. This is true of many of the "non-taxable" forms of income, however, and should be clarified here. --Gregalton 18:58, 22 September 2006 (UTC)

[edit] ToDo

To-do list for Income taxes in Canada: edit · history · watch · refresh

Here are some tasks you can do:

Here is a list of things you think we should do! Add what you think! --CyclePat 19:53, 8 January 2007 (UTC)

[edit] Capital gains and income

I have restored the reference to capital gains from a principal residence not being taxed which had been removed on the basis that a capital gain is not income. Capital gains are taxed under the Income Tax Act as part of a person's income for the year. They do have special treatment -- only 50% of the gain is included in taxable income. Ground Zero | t 20:36, 2 February 2007 (UTC)

[edit] Fiscal Year and Sources

The second sentnece refers to "last fiscal year". Unless we can guarantee updating this every year, I suggest we insert the actual year we mean. Is it fiscal 2005 or 2006? The "three times as much" from personal vs corporate needs a source. Bielle 16:10, 24 May 2007 (UTC)