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Tax Planning for You and Your Family 2012

Tax Planning for You and Your Family 2012    
Format Softcover
Catalogue No. 978-0-7798-3695-6
Pages 362
Language English; Aussi disponible en français
Price $24.95

Editors-in-Chief: Paul B. Hickey, C.A., and Sandra Bussey, C.A. of KPMG LLP.
Published by Carswell, 2011.

This is an annual publication. The 2012 edition was released October 2011.


Tax Planning for You and Your Family is your guide for saving money at tax time and all year round.

Reduce your family's tax bill and raise your family's wealth. In Canada, taxes are one of the biggest obstacles to the creation and preservation of independent wealth. Whether you're a student, a married or single parent, an executive or the owner-manager of your own business, this book offers practical, easy-to-understand strategies that can help you keep more of your hard-earned dollars and boost your family's net worth.

Up-to-date for 2012 by the tax and financial planning team at one of Canada's largest professional services firms, KPMG, Tax Planning for You and Your Family gives you the latest on:
  • Creating a sound financial plan for your family's future and your retirement.
  • Making the most of the special tax breaks available for students, working parents, first-time home buyers, seniors and people with disabilities.
  • Developing an investment strategy and planning for investments in tax-effective vehicles like stocks, bonds, mutual funds, income funds and life insurance products.
  • Deferring taxes through popular savings vehicles like Registered Retirement Savings Plans, Tax-Free Savings Accounts, Registered Education Savings Plans and Registered Pension Plans.
  • Reducing taxes on your income from your job or your business by maximizing your claims for items such as automobiles, moving costs, and home office expenses.
  • Structuring your charitable donations, both during your lifetime and in your will, to help maximize the value of the gift to the charity and the tax benefits to you or your estate.
  • Shielding your earnings and property from U.S. income and estate taxes.
  • Creating a plan to leave more to your heirs and less tax to the tax authorities through strategies such as estate freezing, family trusts, and business succession planning.
  • Fulfilling your obligations to a deceased person's estate and beneficiaries as an executor and estate trustee.
  • Dealing with tax collectors, from filing your return to launching an appeal of taxes in dispute.
In addition to updated federal and provincial tax rates and tax credit amounts, the 2012 edition offers new information on:
  • Changes to the federal tax brackets and the amounts used to compute the basic personal, spousal, eligible dependant and age credits
  • New federal tax credits for children's art lessons and volunteer firefighters
  • Changes affecting Individual Pension Plans
  • More flexibility to allocate assets among siblings' Registered Education Savings Plans
  • Extension of the "income splitting tax" to include capital gains
  • An updated round-up of HST and provincial sales tax rates in effect across Canada
  • Personal Quebec tax changes announced in the province's 2011 budget, including extensions of the credit for caregivers of related adults
  • Recent U.S. tax law developments that could affect the estate and generation-skipping transfer tax burden of Canadians owning U.S. assets
  • New requirements to report information to the IRS for U.S. citizens in Canada.
A comprehensive index, complete cross-references, current tables of federal and provincial tax rates and credits, and summaries of key tax planning points in each chapter make it easy to quickly pinpoint the information you need.

Information in this edition is current to July 1, 2011, and reflects the law and publicly announced proposals for changes as of that date.

Price and availability subject to change. Shipping and applicable taxes extra.
Questions about this product? Please e-mail us.
This page last modified: November 1, 2011

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