Ernst & Young’s
Guide to Preparing 2007 Personal Tax Returns is an easy-to-use reference
guide to assist professionals in preparing personal tax returns. Specifically
designed to help you find the tax compliance information you need quickly and
easily, this new guide can help improve efficiency and productivity during the
busy tax season.
Ernst & Young’s Guide to Preparing 2007
Personal Tax Returns is designed to assist tax preparers in completing 2007
personal tax returns, and contains all the reference material that you need in
one handy source, with new changes, including:
- Splitting eligible pension income
- Increased capital gains deduction limit for small business
shares and farming and fishing property
- Elimination of capital gains on gifts of public company
shares to private foundations
- Enhancements to the RESP rules... and more
Ernst & Young’s Guide to Preparing 2007 Personal
Tax Returns contains everything you need to complete a 2007 T1 return,
including:
- A "What's New" chapter that provides an overview of the
income tax changes for 2007, including new rates, thresholds, and credits.
- An introductory lookup table to help you quickly locate a
specific T1 line number.
- A copy of the seven T1 General Returns (Appendix A): Common,
Ontario, Quebec, Newfoundland and Labrador, Northwest Territories, Yukon, and
Non- Residents and Deemed Residents.
- Provincial and territorial tax (Chapter 7): All provincial
and territorial tax forms and guides.
- Quebec content (Chapter 8): TP-1 returns, schedules, and
workcharts, as well as the Quebec Guide to the Income Tax Return.
- Annotations for each T1 and TP-1 line provide
cross-references to related CRA materials, legislation, T1 and TP-1 lines, and
reference tables.
- Reference Tables (Appendix C): Provincial tax rate and
credits; foreign exchange rates; prescribed interest rates; annual contribution
limits for RPPs, RRSPs, and DPSPs; CPP-QPP payment rates; OAS, GIS, and SPA
payment rates; capital cost allowance rates; automobile deduction limit and
expense benefit rates; probate fees; status of tax treaties, and much
more.
- CRA guidance: Wherever a form, guide, pamphlet, or other
publication is referenced or would be helpful, it is reproduced in the book
and/or on the Bonus Reference CD-ROM.
- Comprehensive index: Helps you find what you’re looking
for, quickly and easily, with 17,000 new entries added to this edition.
- Ernst & Young commentary: Overview of applicable rules,
as well as examples and tax planning tips; sections to help you determine
residency status and rules; detailed chapters on business income, capital
gains, special situations, and administration. All Ernst & Young material
is shaded in grey to distinguish it from CRA guidance and administrative
materials.
- Logical, helpful organization – In addition to the
detailed table of contents at the front of the book, each chapter begins with a
“mini” table of contents outlining all of the components of that
chapter. Bleed tabs separate each chapter, making it even easier to quickly
navigate through the book.
The bonus CD-ROM that accompanies this book contains a
searchable version of the book (Folio Views infobase format in English), that
includes all Forms, Guides, Information Circulars, Interpretation Bulletins,
and Pamphlets listed in the Appendices available as at January 4, 2008, as well
as Folio Views 4.5 software.
All purchases of software are final. More
information can be found in our Return
Policy.
Editions prior to 2006 titled Line-by-Line Guide to
Preparing the Personal Tax Return
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