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Ernst & Young’s Guide to Preparing 2011 Personal Tax Returns includes a summary of what’s new for the 2011 tax year, as well as tips, suggestions, and reminders to consider when preparing 2011 personal tax returns. The guide contains all the reference material you need in one collection and covers:
- new measures including
– extension of the application of the tax on split income (“kiddie tax”) to certain non-arm’s length dispositions of shares,
– elimination of the maximum $10,000 limit on allowable medical expenses for eligible dependents,
– anti-avoidance rules, which currently apply to TFSA holders, targeting RRSP tax planning schemes,
– tax credit for children enrolled in artistic, cultural, recreational, or developmental programs,
– tax credit for volunteer firefighters
- new measures relating to donations of flow-through shares
- elimination of the current rule that limits the claim for the child tax credit to one parent per household
- latest developments on the taxation of students
- increase in the upper limit of the first three tax brackets.
Find answers to your tax preparation questions quickly and easily — improving your productivity and saving valuable time.
Commentary written by Ernst & Young tax professionals — Written in plain language with planning tips and practical examples; commentary for each line indicates whether it applies to residents, non-residents, or deemed residents, as well as what’s new for the 2011 tax year.
Annotations knowledge map — More than 50,000 cross-references to: cases, CRA forms and rulings, Finance explanatory notes and
comfort letters, interpretation bulletins, information circulars, legislative references, reference tables, and related T1 lines.
Quebec content — Includes highlights of the main differences between the federal and Quebec tax systems, as well as the
Quebec TP-1 return, schedules, and workchart, the Quebec Guide to the Income Tax Return, and concordance links between related TP-1 and T1 lines.
Reference tables — Annual contribution limits for RPPs, RRSPs, and DPSPs; CCA rates; foreign exchange rates; medical expenses;
penalties and offences; prescribed interest rates; provincial rate cards; treaty withholding tax rates.
Internet edition provides access to four years previous editions at no extra cost.
Store entry last updated: November 2011
ISBN: 978-1-55385-654-2
Publication Date: January 2012
Number of Pages: 1100
