The Deadline

The Deadline 

The deadline for filing your income taxes for the 2013 taxation year, has been extended to May 5, 2014, this year, instead of the April 30, 2014 deadline.  

If you owe income tax, plus you file your income tax return after the stated deadline, the Canada Revenue Agency (CRA) will charge you a penalty and compound interest, per day, on the unpaid amount owing.  

To file a 'paper format' of your taxes, you need an income tax package.  

The package includes a return, plus all the forms and schedules necessary to file your income tax return. 

You can pickup the package to file your return at all 'Canada Post' and 'Service Canada' outlets. 

If you want to file your taxes online, the tax package comes can be purchased from most retailers.  Be sure you get the version of software that meets your tax situation.  

Finally, make sure you have given CRA your current address.  This ensures that you will receive refunds and benefit payments, as well as important notices, without interruption. 

I will leave it at that, if you require assistance, please contact CRA.  

Thank you for reading, 

Ben

The Allocation of Income within the Ottoman Empire

The Allocation of Income within the Ottoman Empire 

Today, I would like to bring attention to the income earned within the Ottoman Empire.  

First of all, let us write about the Sultan's Earning.  

     Blue Mosque

The income of the Sultan were of the following ways: 

It came from a percentage of the booty obtained in war, &

the collection of taxes from all corners within the Empire.  

Other high level officials within the Empire were not salaried individualizes.  These officials would be assigned the revenue of various estates and/or villages.  The estates and/or villages would be returned to the Treasury when the officials left their positions or died.  

The Janissary Corps were the soldiers of the Empire, and they were treated much the same way.  The amount of money each soldier was to receive would be weighed and sealed in a bag by the Grand Vizier before they were handed out.  

     Beylerbeyi neighbourhood in Istanbul 

This 'Income Allocation' within the Ottoman Empire worked well until the 19th century.  This changed for the worse after this century as after loosing large territories and obviously income loss due to less Taxation the Empire crumbled. 

The Ottoman Empire collapsed in 1923, the cause was income loss and 'old ways' of running a 'sick Empire'.  

Thank you for reading, 

Ben

Average Weekly Income

Average Weekly Income

The 'average weekly income' for Canadians is now $935.00 / week, effective January 2014. 

This figure is 'Gross Income' from T4 earnings.  The yearly amount is:

$48,730.00. 

If you make more then the figure above, consider yourself fortunate.  

This is 3.0% higher then the previous years amount. 

Year-over-year T4 earnings increased in all provinces, with above average growth in the following provinces of:

Alberta, 

Newfoundland and Labrador, 
Saskatchewan, & 

Prince Edward Island.

The province of Alberta is leading the Canadian economy in paying proper wages to employees; that's very good for us 'wage earners'. 

Thank you for reading, 

Ben here

Understand the Income Tax

Understand the Income Tax

"The hardest thing in the world to understand is the income tax" 

This is a quote, believed to me from Albert Einstein, the 'Nobel' peace prize winner, and the intellectual genius.  

I thought it was fitting to write this today, and bring attention to the 'tax system', since the system really is highly complex.  

Also, in previous blogs, titled, 'Interest on Loan', 'Creation of Money', and 'Illegitimate and Absurd', I touched on our 'monetary system', please find these writings in this web-page and read them.  

Therefore, the next step is to write a blog about our 'tax system'.  

I am planning on writing a blog about how 'taxes' come into the picture, when money is created by the banks, and I will need to expand this topic and write about our 'tax system'. 

It will be an interesting topic, and I would like to invite you back to this site.  

For now, I will just state that:

Income taxes are used in almost all countries in the world today.  It was not like this about 100 years prior.  Tax burden now, falls on different groups within our society, based on the yearly 'income' of that 'person' 'partnership' and 'corporation'. 

Let's just leave it at that for now, and I would like to invite you back for a more expanded write up on this topic. 

To be continued.  

Thank you for reading,

Ben