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Items filtered by date: November 2013
Thursday, 14 November 2013 23:11

Tax rates going up and new brackets for 2014!

2 ways you could be affected in 2014.

Tax rate on dividends is going up.  If you have investements that produce income by way of dividends or if you receive profit sharing from a Company by way of dividends you will be affected.  Depending on your tax bracket - if could cost you 4% in 2014.  Do you own a company?  Might be wise to take a little extra out before the end of 2013!

In BC there is a new "temporary" tax bracket coming in for 2014 and 2015 for individuals making over $150,000.  Your new tax bracket is 45.8%.  More important than ever to get your net income below the $150,000 for at least the next 2 years.  Talk to your accountant.


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