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Archive for the ‘Disability Credits’ Category

Asbestos is a toxic substance that is used in construction and for various chemical purposes.  The history of this chemical is very interesting and controversial, especially for Canada which is one of the leading manufacturers of this chemical worldwide. Asbestos became widely used in the late 19th century by manufacturers and builders. Because of its resistance to heat, electricity and chemical damage, its sound absorption and tensile strength it was used in buildings, cloth, fire retardant coatings, concrete, bricks, pipes and fireplace cement, heat, fire, and acid resistant gaskets, pipe insulation, ceiling insulation, fireproof drywall, flooring, roofing, lawn furniture, drywall joint compound and even electric oven and hotplate wiring.  Until the mid 1980th when it was proven that asbestos leads to serious illnesses, like malignant mesothelioma, lung cancer, and asbestosis (a type of pneumoconiosis).

1906 was the year when the first asbestos related death occurred, but even before that researchers noticed a large number of early deaths and lung problems in asbestos mining towns. If we look deeper into history even the ancient Greeks observed that slaves that wore asbestos clothing had lung problems. In 1924 in England, the first country which recognized problems with asbestos, the doctors made the first asbestosis proven diagnosis was made. England was also the first country to include regulated ventilation and made asbestosis an excusable work related disease, in the 1930th, ten years prior to the United States. The term Mesothelioma also came to medical literature in 1931 and became associated with asbestos in the 1940th. The usage of asbestos was truly horrific. From 1952 to 1956 the first filtered cigarette on the market – Kent, used crocidolite asbestos in its “Micronite” filter. During the World War II thousands of tons of asbestos were used to wrap the pipes, line the boilers, and cover engine and turbine parts. This lead to a huge number of asbestos related illnesses among the dock workers. United States is the leading country in the asbestos casualties they reach approximately 100,000 people deceased and unknown number with terminal illnesses at the current moment.

France was the first country to ban the use of asbestos in 1997 and called for a worldwide ban, it 2000 Frances ban was upheld by the World Trade Organization. Canada has its own special relations with asbestos. The only asbestos mines operating in Canada today are in the Province of Quebec and are owned by the Quebec government. Right now Quebec is the second largest producer in the world behind Russia and the world’s largest exporter of asbestos (mostly to Asian countries). Banning of this substance is economically important for whole country and in 1999 the representatives of the Canadian government went before the World Trade Organization to challenge the ban of asbestos, still this initiative was not supported. Today this chemical is banned in 60 countries in whole or in part. As for the status of Asbestos in Canada it is illegal to sell it in the country, still mining and exporting of asbestos is legal.

Canadian retirees can celebrate

Canada Day is our annual opportunity to proudly celebrate Canada’s history and heritage and our achievements as a nation.

Question: Disability Tax Credits?

I am currently on disability and receive CPP and would like to know about Disability Tax Credits. Where can I locate this information?
Thanks in advance.

Answer: In the General Tax Guide, instructions for lines 316 and 318.

And here:

http://www.cra-arc.gc.ca/nwsrm/txtps/2009/tt090209b-eng.html

News in brief

Here are a selection of brief news items from this week’s paper edition, and possibly a few news briefs that didn’t make it in the paper.

Disability at work: A guide to the Disability Discrimination Act 1995 and Disabled Persons Tax Credit ([Information leaflet] / West Midlands Low Pay Unit/WERAS) …

Mr. Controversial Episode# 7

Question: Any California Income Tax Experts Out There?

I am a retired senior (I work parttime) who always has been able to get the EIC (Earned Income Credit) for a disabled child that lives with me and always will. This year I worked for myselft earning about $400 per month. I want to be able to still claim the EIC. How can I do that without a W-2 or a 1099? Thank you.

Answer: If your income is under the maximum for EIC you can still get it.

SMS your views

Agree w Jessica. Wat bounty IRB referring 2? Spending taxpayers’ $s on sub std services? An insult 2 all M’sians! > Stop corruption!!

Disability deductions: providing greater access to tax savings. (Cover Story): An article from: The National Public Accountant $5.95 This digital document is an article from The National Public Accountant, published by National Society of Public Accountants on March 1, 1995. The length of the article is 3465 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web bro…

Self-employment Why Not?: A Disabled Person’s Guide to the Benefits, Tax Credits and Other Help Available When Considering Self-employment …

Moving into Work: A Disabled Person’s Guide to the Benefits, Tax Credits and Other Help Available When Considering Any Kind of Work …

Discussion of Disabled Veteran Tax Credit

Question: I am an adult dependant can I use their income to get a credit card?

I’m a 30 year old disabled person. I live with my grandmother who fully supports me for the time being as social security disability is a long process. The income I have is mostly from ebay etc and isn’t substantial enough to file taxes on (not enough to get a credit card). My income may be low but I also have next to no expenses so realistically I know I could afford one with a certain limit maybe 5 grand, but I mainly want it for emergencies…medical etc. Now as it pertains to income reporting for hospital charity and various other social programs, they want the household income and my grandmother claims in as a dependant. So given this fact, it only seems logical I could use her income as household income to apply for a credit card. Would it be legal for me to do this?
claims me as a dependant*

Answer: If the application asks for household income then you can legally include the income of other residents in the same household.

If the application asks for “your” income then legally you can only use your own income.

Disney `Millionaire’, Marsh, First Republic, HSBC, Carlyle in Court News

Walt Disney Co. was found liable for not paying the U.K. creators of “Who Wants to Be a Millionaire” their share of profits from the quiz show broadcast on Disney’s ABC network.

Security And Privacy Requirements To Support Exchange of Health Information

First off, let me state that every person’s scenario is different. There are many factors in determining if you should sell now, or wait. Obviously, home values have declined since 2005/6. Condos and townhomes have especially been hit hard. So be prepared, if you are going to sell now, or soon- you would be selling for less than you bought it for. If you’re okay with this, then we need to look at what they are selling for now, and decide if you’re ready to list it at that going price point, or if you want to keep it and wait until the market returns. The problem here in waiting, is that when is the market going to return? In a year? In two years? 2014? It may be the best option to sell now, instead of waiting for the market. We are seeing an increased amount of Short Sales and Foreclosures in the market. You will have to compete with these “typically lower-priced” homes. Know that interest rates are ideal AND property values are declining, making it a great time for buyers to get into a home. And with the first-time home Buyers Tax Credit of $8,000- it appears to be a good time to sell, for the year.

This brings me to my next point. When selling, you can either price it ahead of the market, or you can price it to where you are chasing the market. The best scenario is to price your house or condo ahead of the market, so that you will sell it quickly. The alternative is to price it similar to the others, where you are continually doing price reductions (with the market) and end up selling where you should have priced it all along in the first place, and it took a much longer period of time (which means -$$).

Great, what is my point? Just make sure you understand that to sell in this market right now, your home has to be priced properly AND has to show very well. The days of just putting your home on the market “right away” are gone. You have fierce competition in your marketplace and neighborhood, and you need to get with your Realtor and have a complete game plan. If you structure your game plan well before you hit the market, then you are aligning yourself with success and will more than likely hit it. Like I mentioned, you are in a fierce, competitive marketplace and if you don’t have a SOLID game plan, you will be left out in the cold. Worse yet, your house will be on the market and become that “stagnant house” down the street. In your game plan, your Realtor will give you an opinion on value of your house, so you must decide whether that price is acceptable to sell, or whether you need to wait and possibly rent. Right now, a lot of sellers have decided they don’t want to sell in this tough market. That is just fine as long as you don’t HAVE to sell right now. Renting out your home might be a viable option right now, but know that being a landlord is work. Problems come up with the house, you get the wrong tenants, etc. It can take a lot of time and money.

As far as what is a good time to put your condo on the market (if you decide to sell and take the hit), I think that now might be the best time. Showings are up during the spring and summer, the $8,000 tax credit is out there, and new construction and sellers are offering fantastic deals and incentives. Typically, the winter months are slower, and I would say that your best chance to sell would be in the Spring and Summer. But with the rates being at where they are now, this gives buyers the chance to get in with a good rate, if qualified.

It is up to you to decide what is best for you. Each scenario is different, and you must make the decision yourself, hopefully with some guidance from your Realtor. It may be best for you to wait, but rates sure are low right now. With unemployment going up, home values will decline further. If you price it right now, and it looks good on the inside, and you have a solid marketing plan, you should be able to compete to sell. A lot of the people sitting on the fence have come out to buy with the way rates are right now, and with the first-time homebuyer tax credit.

Good luck, and do your homework before hiring your Realtor!

Legal Notices in the June 17th Edition of the St. James Plaindealer.

June 17th Legals

Barack Obama Bio