Minor income tax tip

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Article #2323

#2323

From: msb
Date: Wed, 11 Feb 1987 16:22

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If you keep savings bonds or other interest-bearing paper in a safe
deposit box, you can claim the safe deposit box charges as a deduction,
even if you don't earn enough interest to pay tax on it.  (Well, I
said it was a *minor* tip!  Every little bit helps...)

However -- and this is new this year -- to claim this deduction you
have to use the long "T1 General" tax return.  (It's on Schedule 4,
which no longer appears on the short "T1 Special" return.  There isn't
even anything on the "T1 Special" to remind you that this deduction
exists.)  If you got the "T1 Special" in the mail, you can of course
get a "T1 General" at a post office or district taxation office.

Mark Brader		"'Taxpayer' includes any person whether or not liable
utzoo!sq!msb		to pay tax."	-- Income Tax Act of Canada, s.248(1)

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Message-ID: <1987Feb11.112205.23358@sq.uucp>

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Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP
Path: arc1-ca.pugleaf.net!utzoo!utgpu!utfyzx!sq!msb
From: msb@sq.UUCP
Newsgroups: can.general
Subject: Minor income tax tip
Message-ID: <1987Feb11.112205.23358@sq.uucp>
Date: Wed, 11-Feb-87 11:22:05 EST
Article-I.D.: sq.1987Feb11.112205.23358
Posted: Wed Feb 11 11:22:05 1987
Date-Received: Fri, 13-Feb-87 06:38:18 EST
Reply-To: msb@sq.UUCP (Mark Brader)
Distribution: can
Organization: SoftQuad Inc., Toronto
Lines: 14
Checksum: 10544
Summary: SDB charges deductible