Topaz Posted February 27, 2015 Report Posted February 27, 2015 Just took my info., in to get my taxes done and I hate to say this but the feds have been making changes. Before we could write a Safety Deposit fee, not any more because they say its all done digitally???? What??? what about the important papers that are kept in there???? Also, when I take in the T4's, I use to sign all the papers, not anymore, they want each person to sign their own, so this could cause some delay in getting it done. Some may think this is no big deal but for some it is and I wonder what are the other changes. Quote
TimG Posted February 27, 2015 Report Posted February 27, 2015 Before we could write a Safety Deposit fee, not any more because they say its all done digitally????In the past you could claim you used a safety deposit box to store income producing assets like bonds. Not anymore. Protecting your will and other such papers is not a expense required to earn income so it is not deductible. Quote
nerve Posted February 28, 2015 Report Posted February 28, 2015 (edited) In the past you could claim you used a safety deposit box to store income producing assets like bonds. Not anymore. Protecting your will and other such papers is not a expense required to earn income so it is not deductible. However if your safety deposit box was required for business such as storing backup corporate documents it would be an operating cost. This is why taxes on income are stupid. People should just pay for fees for services they want from the government. Edited February 28, 2015 by nerve Quote
Argus Posted February 28, 2015 Report Posted February 28, 2015 However if your safety deposit box was required for business such as storing backup corporate documents it would be an operating cost. This is why taxes on income are stupid. People should just pay for fees for services they want from the government. That would men health care would be user-fee based, and nobody could afford it but rich people. Quote "A liberal is someone who claims to be open to all points of view — and then is surprised and offended to find there are other points of view.” William F Buckley
kimmy Posted March 2, 2015 Report Posted March 2, 2015 The loss of a safety deposit box deduction would be well down my list of concerns. That would men health care would be user-fee based, and nobody could afford it but rich people. Not to mention school. If rich people were the only ones who could get their kids an education, we'd all be back to living in caves trying to figure out whether rocks are edible before long. -k Quote (╯°□°)╯︵ ┻━┻ Friendly forum facilitator! ┬──┬◡ﾉ(° -°ﾉ)
eyeball Posted March 2, 2015 Report Posted March 2, 2015 I bet it would take a lot less time to figure out that rich people are tastier. They probably don't keep as long though. Quote A government without public oversight is like a nuclear plant without lead shielding.
overthere Posted March 4, 2015 Report Posted March 4, 2015 I bet it would take a lot less time to figure out that rich people are tastier. They probably don't keep as long thoug It is just anecdotal, but I find that all levels of social status does just about the same in my freezer. No, I do not have a link. Quote Science too hard for you? Try religion!
Derek 2.0 Posted March 4, 2015 Report Posted March 4, 2015 Not to mention school. If rich people were the only ones who could get their kids an education, we'd all be back to living in caves trying to figure out whether rocks are edible before long. -k Thats why cake was invented Quote
Argus Posted March 4, 2015 Report Posted March 4, 2015 I bet it would take a lot less time to figure out that rich people are tastier. They probably don't keep as long though. They've probably got more guns, though.. Quote "A liberal is someone who claims to be open to all points of view — and then is surprised and offended to find there are other points of view.” William F Buckley
Derek 2.0 Posted March 4, 2015 Report Posted March 4, 2015 They've probably got more guns, though.. Of which, political power grows from........ Quote
Derek 2.0 Posted March 4, 2015 Report Posted March 4, 2015 Furthermore, from the new tax changes: People could put another $5,500 into a tax-free savings account in 2014. Another $5,500 can be socked away in 2015, bringing total cumulative contribution room since 2009 to $36,500 as of this year. Amounts withdrawn from a TFSA in 2014 can also be recontributed this year, increasing 2015's available contribution room. I wish they had the TFSA 30 years ago....... One question though: People who spent at least 200 hours as a search and rescue volunteer in 2014 now qualify for $450 in tax relief, thanks to a new credit that was introduced in the 2014 federal budget. Does that include members of a volunteer fire department that also performs SAR? Or is there already a tax credit for such members? Quote
Smallc Posted March 4, 2015 Report Posted March 4, 2015 Does that include members of a volunteer fire department that also performs SAR? Or is there already a tax credit for such members? There is already a credit, but I'm not sure if they can be combined. Quote
Derek 2.0 Posted March 4, 2015 Report Posted March 4, 2015 There is already a credit, but I'm not sure if they can be combined. Good to know........from searching the CRA site, it would seem that to be the case. Quote
Ash74 Posted March 5, 2015 Report Posted March 5, 2015 Hey that new family tax credit that JT does not want me to have. Love it. I will be maxing it out. Might even buy some beer and popcorn (at Disney World) with it just for the giggles. After all it is the money I earned why should I not get to spend it the way I want. Quote “Show me a young Conservative and I'll show you someone with no heart. Show me an old Liberal and I'll show you someone with no brains.”― Winston S. Churchill There is no worse tyranny than to force a man to pay for what he does not want merely because you think it would be good for him. –Robert Heinlein
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