Posted on: 07-12-06 16:52:18
hi
can anybody (experienced /tax professional) assist me in giving me a Tax advice by email or by phone regarding Tax rebates and expenses write -off methods...in any service related Small business (sole-propriotership)
if anybody knows any link (GTA AREA) .Pls share ..
Desifreaky - Dec06 2006
Pease remember that our tax system is self declared unless your books are audited by aCA. and certified as such.
any thing you declare as income and claim as deductions are subject to audits. Many so called tax preparers will promise you rebates which may come to haunt you in the future.
take heed!
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S. kanji
I may not agree with your opinions, but I will fight to death for you be able to air your views.
few months back, someone had approached me for a donation and said it will be refunded as tax return.
She also told me that its permitted under the revenue Canada rules.
Is this legal, or some kind of scam?
Quote:
Originally posted by kanjis
Pease remember that our tax system is self declared unless your books are audited by aCA. and certified as such.
any thing you declare as income and claim as deductions are subject to audits. Many so called tax preparers will promise you rebates which may come to haunt you in the future.
take heed!
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sumjo
Quote:
Originally posted by sumjo
few months back, someone had approached me for a donation and said it will be refunded as tax return.
She also told me that its permitted under the revenue Canada rules.
Is this legal, or some kind of scam?
Quote:
Originally posted by kanjis
Pease remember that our tax system is self declared unless your books are audited by aCA. and certified as such.
any thing you declare as income and claim as deductions are subject to audits. Many so called tax preparers will promise you rebates which may come to haunt you in the future.
take heed!
Well you don't get the money back.. but the amount you paid as donation may be eligible for deduction from your net income..
Lot of donations are eligible for that.
http://www.cra-arc.gc.ca/tax/charities/donors/savings/menu-e.html
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Your attitude, not your aptitude, will determine your altitude.
I also got similar offer that if I donate 2000 dollars I will get receipt for 10K...and it will be refunded as tax return...dont know if it is considered as legal. Any idea ?
These schemes are all Tax Shelter schemes. CCRA is watching them closely. Even if you get a refund this year you can be audited & your gift cut down to the actual amount of money donated. It is better to avoid these type of schemes.
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Driller the thriller
