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	<title>Evelyn Jacks Blog</title>
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	<description>Your Money.  Your Life.</description>
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		<title>Delinquent Tax Filers — Preserve Wealth And File Now</title>
		<link>http://www.evelynjacks.com/?p=639</link>
		<comments>http://www.evelynjacks.com/?p=639#comments</comments>
		<pubDate>Wed, 16 May 2012 15:12:25 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[When it comes to eroding your capital, there is no match for the expensive penalties you pay for failing to file your annual income tax return.  But, on the bright side, if you file overdue returns before the Canada Revenue Agency (CRA) comes after you, you can avoid the big penalties. So, if you are delinquent, file your returns now — and save money. The CRA has been proactively slapping penalties on delinquents of $1,000 for each missed return, be [...]]]></description>
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		<title>Six Uses For Your Tax Refund</title>
		<link>http://www.evelynjacks.com/?p=635</link>
		<comments>http://www.evelynjacks.com/?p=635#comments</comments>
		<pubDate>Tue, 08 May 2012 15:22:09 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[As of April 30, the deadline for filing your taxes, the Canada Revenue Agency (CRA) had already processed 17-million tax returns. And for the 66% of those filers who got money back, the average refund was $1,570.  If you are on the receiving end, you want to be sure to put your refund to work for you. Consider the following six strategies for spinning your refund into gold: Put it into a Tax-Free Savings Account (TFSA).  Withdrawals from a TSFA [...]]]></description>
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		<title>File a Tax Return — Even If You Can’t Pay</title>
		<link>http://www.evelynjacks.com/?p=631</link>
		<comments>http://www.evelynjacks.com/?p=631#comments</comments>
		<pubDate>Wed, 25 Apr 2012 14:18:17 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[The tax-filing deadline is midnight April 30 — unless you are self-employed, in which case the deadline is midnight June 15.  But even if you qualify for the June 15 deadline, you still have to pay the Canada Revenue Agency (CRA) any amount owing on your 2011 taxes by April 30. So, filing by April 30 is the best and only way to avoid expensive late-filing penalties and interest on this year’s taxes. The CRA charges a penalty of 5% of [...]]]></description>
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		<title>Tax + Inflation = Investor Loss</title>
		<link>http://www.evelynjacks.com/?p=624</link>
		<comments>http://www.evelynjacks.com/?p=624#comments</comments>
		<pubDate>Wed, 18 Apr 2012 15:56:04 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[Tax time is a good time to evaluate the tax-efficiency of your investment strategy. This is especially true if the market volatility of recent years has spooked you into replacing the equities in your portfolio with “safer” investments that guarantee your principal and interest. In the Knowledge Bureau Report of April 4, I promised you a look at the eroding effects of both taxes and inflation on your investment returns. The picture is not pretty. Recall that reporting interest on [...]]]></description>
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		<title>Reporting Interest Income</title>
		<link>http://www.evelynjacks.com/?p=616</link>
		<comments>http://www.evelynjacks.com/?p=616#comments</comments>
		<pubDate>Wed, 11 Apr 2012 21:05:46 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[It really is time to do that income tax return, with the April 30 deadline for individual filers fast approaching. And reporting interest income deserves particular attention this year, if you are among the worried investors who exchanged stocks for the “safe” havens of interest-bearing debt obligations such as guaranteed investment certificates (GICs) and Canada Savings Bonds. Indeed, the guaranteed return of principal and income resulting from the government using your money is attractive. But it is not all it [...]]]></description>
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		<title>Family Tax-Efficient Investment Strategies</title>
		<link>http://www.evelynjacks.com/?p=611</link>
		<comments>http://www.evelynjacks.com/?p=611#comments</comments>
		<pubDate>Tue, 03 Apr 2012 18:58:10 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[If the federal budget brought home one lesson about our post-crisis reality it is the importance of being financially self-reliant. If you were born on or after Feb. 1, 1962, you will not qualify for Old Age Security (OAS) benefits until you are 67. That means you need to create another $13,000 in retirement savings to replace those benefits. Yet, economists forecast negligible net returns after inflation and taxes over the next five years — and that’s going to make [...]]]></description>
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		<title>An Historic Budget — Charting a New Course</title>
		<link>http://www.evelynjacks.com/?p=590</link>
		<comments>http://www.evelynjacks.com/?p=590#comments</comments>
		<pubDate>Fri, 30 Mar 2012 19:09:31 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[Every so often a budget makes historic changes; the March 29, 2012, federal budget or Economic Action Plan 2012 is such a document. It will be remembered for three milestones: Moving the age eligibility for Old Age Security (OAS) to age 67 from age 65 starting in 2023, Eliminating the penny, Celebrating Canada as a world leader. Indeed, today Canada leads the G-7 countries — the U.S., UK, Germany, France, Italy and Japan — in economic growth, and has the [...]]]></description>
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		<title>Budgets, Tax Reforms and Wealth Management</title>
		<link>http://www.evelynjacks.com/?p=580</link>
		<comments>http://www.evelynjacks.com/?p=580#comments</comments>
		<pubDate>Tue, 27 Mar 2012 20:15:31 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

		<guid isPermaLink="false">http://www.evelynjacks.com/?p=580</guid>
		<description><![CDATA[With every federal budget, we anticipate the continued reform of personal and corporate tax systems. The March 29 budget is no different. If the age of eligibility for Old Age Security (OAS) is pushed back, Thursday&#8217;s budget could be both historically significant and hugely unpopular (or so indicates Knowledge Bureau&#8217;s polling). You will do well to pay close attention to this budget and project the effects it will have onto your retirement and estate planning. In the aftermath of the [...]]]></description>
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		<title>Investing Tips for Young Adults</title>
		<link>http://www.evelynjacks.com/?p=568</link>
		<comments>http://www.evelynjacks.com/?p=568#comments</comments>
		<pubDate>Tue, 20 Mar 2012 18:45:50 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[Once all the members of your family — including minors and young adults — have filed their tax returns, you can turn your attention to teaching the next generation the long-term benefits of investing their returning social benefits and refunds wisely. Contributing up to $5,000 to a Tax-Free Savings Account (TFSA) each and every year is one way young adults can build a tax-free pension for retirement. Investment income earned in a TFSA accumulates tax-free, which means that future withdrawals [...]]]></description>
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		<title>Claiming Tax Benefits For Disabled Adults</title>
		<link>http://www.evelynjacks.com/?p=564</link>
		<comments>http://www.evelynjacks.com/?p=564#comments</comments>
		<pubDate>Wed, 14 Mar 2012 19:16:33 +0000</pubDate>
		<dc:creator>Evelyn Jacks</dc:creator>
				<category><![CDATA[Income Tax]]></category>

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		<description><![CDATA[If you are supporting an adult who is dependent on you because of mental or physical impairment, the Canada Revenue Agency (CRA) offers tax relief on this year&#8217;s federal tax return in the form of several, important, non-refundable tax credits. • Amount for an Infirm Dependant Over 18. (Line 306) If an adult is dependent on you because of an impairment in mental or physical functions, you may be eligible to claim this amount. The dependent adult&#8217;s net income — [...]]]></description>
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