2 Tax Tips from Income Tax Preparer Noel Thomas

27 Feb

Two Tax Tips from Income Tax Preparer Noel J. Thomas 

1. Take it to the limit with your RRSPs!
Did you know.
That March 1, 2007, is the deadline for making a contribution to a
registered retirement savings plan (RRSP) for the 2006 tax year? With RRSPs,
you can start saving now for your retirement, education, or the purchase of
a home. To view your RRSP deduction limit and other personal income and
benefit information, why not log in to My Account at
www.cra.gc.ca/myaccount.

2. Claiming medical expenses
Did you know.
That you can claim, as a non-refundable tax credit, medical expenses for
yourself, your spouse or common-law partner, and your children born in 1989
or later? For 2006, the total expenses have to be more than 3% of your net
income, or $1,884, whichever is less. You may also be able to claim medical
expenses for the following persons if they depend on you for support:
you or your spouse or common-law partner’s child or grandchild who was born
in 1988 or earlier; and you or your spouse or common-law partner’s parent or
certain close relatives who lived in Canada at any time in the year.

For more information, call:

NOEL J. THOMAS
Income Tax Preparation
Personal & Small Business
2 Halfmoon Square
Scarborough Ontario M1C 3V3
E-FILE
Email:  Njtomas@sympatico.ca
Tel: 416 283-7039

If you call or contact Noel –  P    lease let him know you found out about him from Hook Me Up

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