 All family taxes
should be done at the same time.
Total all the medical for the family
together.
Medical expenses must be more than 3% of the lower income spouse.
Official tuition slips are needed.
Do spousal RRSPs for the spouse in the
lower tax bracket to even up retirement income.
A GIC bought through an insurance
company qualifies you for the pension deduction.
RRSP deadline for contributions is March
1, 2006. If you need to know what your RRSP limit is call 1-800-267-6999 (TIPS).
If you supported a parent or grandparent
in your home during the year, you may be entitled to a non-refundable
tax credit entitled the Caregiver Amount.
Ask Tax Mate if you qualify ?
You can save donation receipts up to 5
years and use them when they may be the most beneficial to you.
Interest earned in a
Registered Education
Savings Plan (RESP) accumulates tax deferred until your child withdraws
the money to fund his (her) education.
The government also provides a grant of 20% of your contributions to a
maximum of $400 per year per child under 18 years of age. For more information please contact
www.gicbroker.com
Call for appointment or send your Tax
Pak as soon as possible.
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