The Federal Tax Credits Blog

Posts Tagged ‘canada’

Question: At what tax percentage do I get my taxes back if eligible for the Disability Tax Credit?

My tax bracket is about 35%. I just found that I am eligible for the Canadian Disability amount of $7,021 for the past 3 years. Someone has just told me that my tax refund is based on the lowest tax bracket or rate of about 17%, NOT the 35% marginal tax rate that I have been in. Is he correct?

Answer: The disability amount is a non-refundable tax credit. This credit will reduce the amount of money that is taxable just like your personal exemption amount. These types of credits are always based on the lowest income tax bracket which federally is 15%.

The credit in essence will shift some of your higher income to a lower bracket and you will see a savings.

Marshfield by the months in 2009

Click on the headline for a month-by-month review of 2009 in Marshfield.

Disability Tax Credit Services – Winnipeg

The history of lottery in Canada is a short one but very interesting. Although the lottery is thriving very well right now in Canada, before 1967, it was not allowed by law to buy a ticket of the Irish Sweepstakes. The Government of Canada came up with an Omnibus bill in 1967 which was to take care of all laws which had turned obsolete and outdated. This bill was sponsored by the Minister of Justice – Pierre-Elliot Trudeau. He made an announcement that the government would make changes which were required so that the stand on lotteries in Canada too could become very clear.

While this was going on, the mayor of Montreal – Jean Drapeau, came up with a way to recover the money which had been incurred on the World’s Fair and the subway system which had been introduced out there. It was considered to be a sort of a voluntary tax to be paid by the public. In return for a payment $2 which would be donated, a player could take part in a $100,000 prize draw. Drapeau didn’t consider this draw to be a form of lottery as the winners were given silver bars as prizes. Also the people who qualified in the first draw would then have to answer four questions correctly so that they could actually win the prize in the second draw. The first draw was held on May 27, 1968.

This voluntary tax started a series of debates in Ottawa and Quebec City whether such a type of voluntary tax was actually legal. While the Minister of Justice considered it to be a kind of lottery, Drapeau stuck to his argument saying that it didn’t break any federal law. During this time of heated debates regarding the status of the voluntary tax, the monthly draws continued without facing any problems. It got participation from other parts of the world like Asia, Europe and the United States. Of course it had players throughout Canada taking part in it.

In 1968, the Quebec Appeal Court considered Drapeau’s voluntary tax to be breaking the law. But this verdict was not accepted by the mayor and he decided to appeal to the Supreme Court. Even as the debate continued further, the sales of this voluntary tax reduced drastically. Finally, on December 23, 1969 the government was allowed to run lottery systems by law after a suitable amendment was made in the country’s Criminal Code.

This led the way to the introduction of the first provincial lottery in 1970 – Quebec’s Inter-Loto. Once this happened, the other provinces too came up with their own versions of lotteries. The government of Canada was able to get much needed revenue so that the expenses spent on the 1976 Summer Olympics could be recovered by it. This lottery was known as the Olympic Lottery and run by the Government in the late 1970′s. Right now there are two national lotteries running in Canada – they are the Lotto 6/49, and the Lotto Super 7. Both of them are doing well in Canada.

Canada Afternoon: C$ Ends Higher; Higher Oil Fuels Gain

TORONTO (Dow Jones)–The Canadian dollar rebounded from Wednesday’s drop to finish higher in a light trading session Thursday. The gain was fueled by an increase in the price of oil and an unexpected decline in weekly U.S. jobless claims.

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There are two things in life you can depend on: Death and … tax credits?; Canada’s scientific research and experimental development program is … An article from: Canadian Chemical News $5.95 This digital document is an article from Canadian Chemical News, published by Chemical Institute of Canada on January 1, 2002. The length of the article is 1732 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 browser.Citation De…

Intertemporal tax-smoothing and the government budget surplus: Canada and the United States.: An article from: Journal of Money, Credit & Banking $5.95 This digital document is an article from Journal of Money, Credit & Banking, published by Ohio State University Press on November 1, 1995. The length of the article is 4866 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 browser…

Political leaders differ on future direction for the province.(BACK PAGE): An article from: SaskBusiness $9.95 This digital document is an article from SaskBusiness, published by Thomson Gale on May 1, 2007. The length of the article is 804 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 browser.Citation DetailsTitle: Political leaders d…

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