Category Archives: Income Tax

Income Tax Returns for Medical Residents – 2014

January is the start of a new calendar year. It is also the start of a new tax year, which means that it will soon be time to file tax returns for the previous one. Tax returns for most Canadians … Continue reading

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First Income Tax Return after Completing Medical Residency

Transitioning to medical practice from residency is a big step. Completing the requirements of the program, writing certification exams, finding work, getting licensed, applying for hospital privileges, setting up CMPA coverage, etc.  There is so much to be done before … Continue reading

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2014 CPRSP Application Deadline for 2013 RRSP Deduction – January 20, 2014

RRSP contributions made in the first 60 days of 2014 are eligible for deduction on your 2013 personal income tax return. This year, the contribution deadline for a 2013 RRSP deduction is March 3, 2014. However, if you want your … Continue reading

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Physician Benefit – The Contributory Professional Retirement Savings Plan

The Contributory Professional Retirement Savings Plan (CPRSP) is one of several benefit programs administered by the BCMA that are available to BC physicians through the Physician Master Agreement. The other benefit programs are the Physician Disability Insurance Program (PDI), the … Continue reading

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2013 CPRSP Application Form

The British Columbia Medical Association (BCMA)  recently released the Contributory Professional Savings Plan (CPRSP) entitlement amounts for 2013. If you are an eligible physician, you should have received your personalized application with  entitlement information by mail or email.  If you have … Continue reading

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