Comments on: Money Tip: Are You Eligible for the CCTB? http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/ Helping you invest and prosper Sun, 12 Feb 2012 00:54:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: mike http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-751126 mike Fri, 15 Jul 2011 10:07:27 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-751126 I was recently told that CCTB is only for resident canadian,but i have a friend who stay outside canada but she is filling income tax as Resident in Canada and she receives CCTB to her account, how far it is correct on her behalf to claim CCTB? I was recently told that CCTB is only for resident canadian,but i have a friend who stay outside canada but she is filling income tax as Resident in Canada and she receives CCTB to her account, how far it is correct on her behalf to claim CCTB?

]]> By: Family Tax Cut: Big Tax Savings for Some Families | MoneySense http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-460741 Family Tax Cut: Big Tax Savings for Some Families | MoneySense Tue, 29 Mar 2011 18:33:49 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-460741 [...] Money Tip: Are You Eligible for the CCTB? [...] [...] Money Tip: Are You Eligible for the CCTB? [...]

]]> By: Thicken My Wallet » Blog Archive » Are you overlooking these tax savings? http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-261185 Thicken My Wallet » Blog Archive » Are you overlooking these tax savings? Mon, 13 Sep 2010 08:41:27 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-261185 [...] does not include the Canada Child Tax Benefit which is a monthly allowance for eligible taxpayers (but only if you sign up). Generally, the range [...] [...] does not include the Canada Child Tax Benefit which is a monthly allowance for eligible taxpayers (but only if you sign up). Generally, the range [...]

]]> By: Leanne http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-213950 Leanne Wed, 24 Mar 2010 04:40:32 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-213950 I am on long term disability and I have two children. I am told that they will only go back 11 months. They say you can apply for them to go back further. does anyone know what they consider good reason? I suffer with depression, anxiety, and did not know how to go about this. Why would they deny anyone that is eligible. what is their reason? I am on long term disability and I have two children. I am told that they will only go back 11 months. They say you can apply for them to go back further. does anyone know what they consider good reason? I suffer with depression, anxiety, and did not know how to go about this. Why would they deny anyone that is eligible. what is their reason?

]]> By: Jane http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-182574 Jane Wed, 18 Feb 2009 15:25:52 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-182574 Thank you Traciatim for your reply. I read through the other posting, but I still don't see answer to my question: am I allow to withdraw $ from the account or not. I will try to call CRA again hopefully they will give me a clear answer. Thank you Thank you Traciatim for your reply. I read through the other posting, but I still don’t see answer to my question: am I allow to withdraw $ from the account or not. I will try to call CRA again hopefully they will give me a clear answer.
Thank you

]]> By: Traciatim http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-182522 Traciatim Wed, 18 Feb 2009 02:17:56 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-182522 Jane, CC blogged about this here: http://www.canadiancapitalist.com/2008/06/25/quick-tip-invest-cctb-or-ucb-payments-in-your-childs-name It's not that it is not taxable, just taxed in the child's name, since they have no other income there would be essentially no tax. As always, if you are unsure about a strategy it might be best to talk to a professional about it. Jane, CC blogged about this here:

http://www.canadiancapitalist.com/2008/06/25/quick-tip-invest-cctb-or-ucb-payments-in-your-childs-name

It’s not that it is not taxable, just taxed in the child’s name, since they have no other income there would be essentially no tax.

As always, if you are unsure about a strategy it might be best to talk to a professional about it.

]]> By: Jane http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-182492 Jane Tue, 17 Feb 2009 21:56:12 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-182492 sorry I know this is a very old post, but I hope you can help me with this: I was been told that if I open up an account to collect only CTB and UCCB, all interest made will be non-taxable. However, if I withdraw any money from this account for personal use, this account will then no longer eligible for 'non-taxable' for tax purpose. Is it true??? It really not making any sense for me. Thank you CC sorry I know this is a very old post, but I hope you can help me with this: I was been told that if I open up an account to collect only CTB and UCCB, all interest made will be non-taxable. However, if I withdraw any money from this account for personal use, this account will then no longer eligible for ‘non-taxable’ for tax purpose. Is it true??? It really not making any sense for me.
Thank you CC

]]> By: Canadian Capitalist http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-156459 Canadian Capitalist Fri, 19 Sep 2008 04:04:03 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-156459 Darin: Congratulations! I've never heard of any cut off. In fact if you try out this calculator: http://www.cra-arc.gc.ca/bnfts/clcltr/menu-eng.html with different number of children, you'll find that the benefits increase as the number of kids increase. In any case, I'd give CRA a quick call. They are very helpful and should be able to sort out your question. Darin: Congratulations! I’ve never heard of any cut off. In fact if you try out this calculator:

http://www.cra-arc.gc.ca/bnfts/clcltr/menu-eng.html

with different number of children, you’ll find that the benefits increase as the number of kids increase. In any case, I’d give CRA a quick call. They are very helpful and should be able to sort out your question.

]]> By: DarinCanada http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-156454 DarinCanada Fri, 19 Sep 2008 02:46:35 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-156454 I was wondering - is there a maximum amount of children you can have to be eligible for the benefit? I've heard from a couple people that you are cut off at 4 dependants. We have 3 now and are expecting multiples - does anyone have information on this? Thanks I was wondering – is there a maximum amount of children you can have to be eligible for the benefit? I’ve heard from a couple people that you are cut off at 4 dependants. We have 3 now and are expecting multiples – does anyone have information on this?
Thanks

]]> By: Thicken My Wallet » Blog Archive » Leaving free money on the table http://www.canadiancapitalist.com/money-tip-are-you-eligible-for-the-cctb/#comment-148340 Thicken My Wallet » Blog Archive » Leaving free money on the table Thu, 14 Aug 2008 09:03:15 +0000 http://www.canadiancapitalist.com/2007/07/05/money-tip-are-you-eligible-for-the-cctb#comment-148340 [...] a ton of other examples: people not applying for child-care tax credits, not applying to your local city for rebates when you purchase energy saving products (City of [...] [...] a ton of other examples: people not applying for child-care tax credits, not applying to your local city for rebates when you purchase energy saving products (City of [...]

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