BMO Nesbitt Burns' Year-End Tax Study: Canadians Not Familiar with Specific Tax Deadlines
- Offers tips on year-end tax-saving strategies
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 12/28/12 -- With the end of the year only a few days away, BMO Nesbitt Burns reminds Canadians not to wait until April to think about their taxes. The end of December marks an important time for many who are looking to minimize the amount of taxes they pay on their investment income.
According to a study by BMO Nesbitt Burns, 93 per cent of Canadians believe they are familiar with the income tax deadlines. However, when asked about various, specific tax deadlines, many did not know the correct dates for:
"It's important for Canadians to educate themselves on the various end-of-year deadlines to help ensure there are no missed opportunities to reduce their tax bill," said John Waters, Vice President, Head of Tax & Estate Planning, Wealth Group, BMO Nesbitt Burns. "Many tax strategies require foresight to be effective, and tax planning should be a year-round activity. Seek out the assistance of a financial and tax professional as soon as possible - waiting until the New Year to start thinking about taxes is often too late."
Before year-end, BMO Nesbitt Burns offers the following tax-saving strategies:
1. Charitable Donations & Other Tax Credits/Deductions - Deadline: December 31
2. TFSA Withdrawals - Deadline: December 31
3. RRSP Contributions for those turning 71 - Deadline: December 31
For next year:
Payment of Quarterly Tax Installments - Deadline: Generally around mid-December(i)
Tax-loss Selling - Deadline: December 24
For more information on tax-efficient investing and planning, locate a BMO Nesbitt Burns Investment Advisor at .
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The results cited in this release are from an online Pollara survey with a random sample of 1,000 Canadians 18 years of age and older, conducted between November 29th and December 4th, 2012. A probability sample of this size would yield results accurate to +/- 3.1 per cent, 19 times out of 20.
(i) When a due date falls on a Saturday, a Sunday, or a holiday recognized by the CRA, payment will be considered on time if received the next business day.
Contacts:
Media Contacts:
Amanda Robinson, Toronto
416-867-3996
Valerie Doucet, Montreal
(514) 877-8224
Laurie Grant, Vancouver
(604) 665-7596
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Datum: 28.12.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 215796
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Town:
TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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