A Declaration of Taxpayer Rights

Front Cover
Bateman Financial, 2004 - Income tax - 242 pages
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Contents

Foreword
1
Laying The Foundation
9
THE PILLARS OF TAX PLANNING
17
THE PILLARS OF TAX PLANNING
19
NONTAXABLE BENEFITS
44
Death benefits
50
Employee loans
51
Splitting Taxable Income
55
Investment tax credits SRED
141
STRUCTURING YOUR BUSINESS
143
Choosing a year end
145
TAX PAYMENTS
146
Canada Pension Plan
147
Provincial payroll taxes
148
Education Topics
151
The millennium fund
152

Making use of loans
56
Giving away deductions and credits
63
Investing cash in the right hands
65
Using statutory provisions
67
Using a business or corporation
72
Deferring Taxable Income
73
Taxdeferred plans at home
75
Taxdeferred plans at work
77
The timing of investment income
80
Using a business or corporation
82
Converting Taxable Income
85
Capital gains exemption
87
Investment amnesia
88
Equity mutual funds
89
Swapping investments with your RRSP
91
Converting a loan to share capital
92
Exempt life insurance policies
94
When you sell capital property
96
Call it a business
97
Participating mortgages
98
SPECIAL AREAS
101
Getting The Most From Your RRSP
103
Advantages of an RRSP
104
GETTING MONEY INTO YOUR RRSP
106
Increasing your contribution limits
109
Your childs contributions
110
Unused contribution room
111
Overcontributing
112
Claiming your deduction at the right time
113
Contributions inkind
114
RRSPs inherited
116
Transfers to another RRSP
117
What is a spousal RRSP?
118
Attribution on withdrawals
119
When to contribute each year
120
Contributing using a deceaseds assets
121
GETTING MONEY OUT OF YOUR RRSP
122
Getting money out for a home purchase
124
Getting money out for education
126
SelfEmployment
127
Selfemployment as a tax shelter
128
Consulting
129
Parttime selfemployment
131
USING YOUR BUSINESS TO SAVE TAXES
133
Home office expenses
135
Automobile expenses
136
Meals and entertainment
137
Paying for personal vs business assets
138
Using losses from your business
139
The new RESP rules
153
RRSP Education Loan
157
Part time students
159
Student loan credit
160
The Learning Bond
161
Student oriented tax planning
162
Funding education alternative methods
164
Estate Planning
167
Power of Attorney
170
Probate Fees
171
Transfer assets to your spouse
174
Capital losses become noncapital losses
175
Leave your spouse your RRSPRRIF
176
File up to 4 returns
177
Testamentary trusts
178
INVESTING YOUR MONEY
181
Investment Basics
183
The three investment classes
184
Determining your risk tolerance
185
Strategic investing and market timing
186
Diversifying your portfolio
189
Diversifying internationally
190
Understanding and selecting investments
191
Different advisors for different needs
192
Minimizing commissions and fees
193
Where To Put Your Money
195
Money Market Investments
196
Fixed Income Investments
197
Backtoback prescribed annuities
199
Annuity mutual funds
201
3 Exempt insurance policies
202
Dividend reinvestment plans
204
timing a purchase
206
Foreign currencies
208
7 Real estate REITs
210
Royalty trusts
214
Laboursponsored venture capital funds
216
Offshore investing
218
Derivatives Futures and Commodities
221
Last Word
223
Appendices
225
A declaration of taxpayer rights
227
Federal and Provincial Tax Rates
228
Minimum annual RRIF withdrawals
231
Common capital cost allowance rates
232
Provincial probate fees
233
Index
234
Copyright

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