14 PHILIPPINE ASIAN NEWS TODAY April 1 - 15 , 2018
Life etc .
by Jun Cordero
VANCOUVER , B . C . -- With just over a month left to complete and file your 2017 income tax return , don ’ t forget , the deadline for personal tax returns and payments of any taxes owing for the 2017 tax year is Monday , April 30 , 2018 .
Still trying to make sense of the changes for the 2017 tax year ? Consult a chartered professional accountant today if you are unsure how these changes affect you . To get you started with your 2017 tax return , the Chartered Professional Accountants of British Columbia ( CPABC ) have answered commonly asked tax-related questions :
1 . How much tax do I have to pay ?
The amount of tax you have to pay is based on your annual income . Be
Something for the environment
Ex-Korean president , their first woman president , recently was sentenced to 24 years in jail for corruption and coercion . The past leader was found guilty of several charges including squeezing big businesses for funds ( for a friend ’ s foundation ) and forcing companies to sign lucrative deals as favor to friends .
Sounds too familiar ? The crime - yes , nothing new in Philippine politics , yet nobody goes to jail but , instead , gets promoted to new seats of power ( aigoo , aigoo where are the Marcoses now ...) Someone quipped that the Japanese cannot live even in jail after such a scandal - they commit harakiri . I said no such thing in the Philippines , and I don ’ t mean the crime - it ’ s worse there - it ’ s the hara-kiri . The guilty lives - it ’ s the whistle-blower that commits hara-kiri . ********* Now on a lighter mood , we ’ ve all seen the fanatical “ green ” revolution around us - the green bins versus the garbage bins , and those recyclable bins and glass bins . One now needs a college degree just to sort out on which bin to put your garbage in .
Like in our office , we now have bins labeled COMPOST , GARBAGE / TRASH , PAPER ,
PLASTIC / CANS and PLASTIC
PRODUCTS . I walk down to the Pacific Centre mall and they have bins for ORGANIC , NON-ORGANIC and WASTE . At the food court they have FOOD , RECYCLABLES , and GAR- BAGE .
Then after relaxing at Starbucks I think for a moment to decide which of my stuff goes to which bin that are labeled PAPER , PAPER CUPS WITH NO LIDS , PLASTICS AND BOTTLES , and WASTE . I remove the straw and lid of my cup and put them in one bin , then the cup to another , then my napkins to yet another one . I walk down Granville and the street bins are differently labeled such as CONTAINERS , PAPER , and LANDFILL GARBAGE .
And so I was finished with my gum
Remember to file your income tax return
sure to check out both the federal and provincial tax brackets before filing your income tax return . To reduce your taxes , check to see if you are eligible for any tax credits or tax deduction measures .
2 . I ’ m self-employed , is my deadline for filing my income tax return different ?
If you are self-employed , the filing deadline for your personal tax return is extended to June 15 , 2018 , for you and your spouse or commonlaw partner . For corporations , your corporation income tax return must be filed no later than six months after the end of each tax year ( or end of your corporation ’ s fiscal year ).
3 . I was unable to use all of my tax credits last year . Can I apply them
in my tax return this year ?
If you were unable to use certain deductions or tax credits from a previous tax year , you may be able to use them for the 2017 tax year . Some common “ carry-forward ” items include : o Charitable donations : unused charitable donations may be carried forward five years ; o Interest on student loans : unused student loan interest expenses may be carried forward five years ; and o Home office expenses : excess undeducted home office expenses of an employee or a self-employed individual may be carried forward indefinitely and applied against income from the same office or employment and need to throw it away . I asked my wife where should I throw my gum ? It ’ s food cause I chewed on it , but she says no it ’ s not organic . Well , it ’ s not plastic and it ’ s not paper , and definitely it ’ s not recyclable ( unless I put sugar on it and chew it again ). In fact , I don ’ t even know the difference between garbage and waste .
I went to the curb and threw my gum on the paved asphalt . What did you do that for , my wife can ’ t believe I was littering . No , I said , I ’ m helping the environment . See those potholes on the street ? My gum will fill one of those potholes and in time they will need less asphalt to repair the road .
or from the same business . 4 . Can I transfer income tax credits to my spouse ? You can transfer some income tax credits to your spouse or commonlaw partner . Transferable credits include the age credit , disability credit , pension income credit , and your own education and tuition fee credits . If you are able to reduce your taxes payable to zero without using all of your available credits , you may transfer some of these unused credits to be applied on your spouse ’ s tax return . Don ’ t let your credits go to waste .
Learn more about filing your income tax return with CPABC ’ s RRSP and Tax Tips at rrspandtaxtips . com .
FROM PAGE 4
Statement by the Prime Minister on the tragic bus crash in Saskatchewan
The Prime Minister , Justin Trudeau , today issued the following statement on the tragic bus crash that took place in Saskatchewan on Friday evening :
“ An entire country is in shock and mourning today as we learn more about the tragic bus crash involving the Humboldt Broncos that claimed the lives of 14 people and injured many more .
“ We are heartbroken knowing many of those we lost had their entire lives in front of them . We grieve with those facing news no parent or family should ever have to face . And our hearts go out to the community that has lost teammates , coaches , friends , and mentors .
“ This is every parent ’ s worst nightmare . No one should ever have to see their child leave to play the sport they love and never come back .
“ Our national hockey family is a close one , with roots in almost every town – small and big – across Canada . Humboldt is no exception , and today the country
and the entire hockey community stands with you .
“ I thank the first responders – the RCMP , the Provincial Response Team , and medical personnel – who worked tirelessly through the night , and continue to respond to this incredibly difficult situation with courage and professionalism .
“ To the entire Humboldt community : We are here for you . As neighbours , as friends , and as Canadians , we grieve alongside you .”
WWW . PHILIPPINEASIANNEWSTODAY . COM
Andrew Scheer issues statement on the Humboldt Broncos
Ottawa , ON - The Leader of Canada ’ s Conservatives today issued the following statement on the bus crash involving the Humboldt Broncos junior hockey team :
“ As a parent and a Saskatchewanian , it is hard to find the words to capture the terrible incident that took place overnight . My thoughts and prayers are with the family and friends who lost loved ones last night , and Jill and I are praying for a speedy recovery of all those injured and who remain in hospital .
“ It the worst kind of tragedy any parent or friend can imagine , and the strength of the Humboldt community , and communities across the region that have been touched by this loss , will be so important now . I have no doubt that the people of Saskatchewan will come together to support each other during this extremely difficult time .
“ I would like to also take this opportunity to thank the first responders who arrived on scene to treat the injured .
“ On behalf of Canada ’ s Conservatives , I offer my deepest condolences to the Humboldt Broncos organization , their family and friends , as well as all Saskatchewanians touched by this terrible tragedy .”