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We just complain about paying taxes, without recognizing that pooling our money together has bought us a high quality of life.
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As the end of April approaches, many of you have filed your taxes and experienced that moment of truth waiting for the system to calculate whether or not you'd get a refund. According to a recent TD survey, more than half of Canadians are expecting to receive a tax refund this year.
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I'm no friend of the Canada Revenue Agency but it's not for the reason you might think. After all, for fifty years I have faithfully filed an annual income tax return and paid whatever I owed. Although I'm not thrilled about paying taxes, I do so willingly, recognizing that it is my patriotic duty to contribute to the commonwealth.
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Very sadly, large numbers of Canadians are turning their backs on the principles and values I hold dear, the principles and values of which I am so proud. The principles and values that paved the way for my family, and so many others, to have that better life they craved.
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Like many diagnoses of slow growth, the effects of bad government policies often get overlooked. This matters because unlike commodity swings or global forces, governments can actually influence the direction of policy. But in recent years, we've seen an onslaught of growth-hindering policies in Canada such as spending-induced debt increases, higher taxes and increased regulation.
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Tax evaders are using homes to bring money from high-tax jurisdictions into Canada. Since they can't just move fat wads of cash without attracting scrutiny, they've come up with several techniques. Using soft assets that don't have fixed trade values (like homes) is one of the easiest ways to do it.
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The new CPP may also bring some surprising consequences. Some will be good. Obviously for a worker with no pension or a very weak pension, that person now gets a new tier of (modest) benefits. But there are remaining concerns.
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By treating your refund like free money you aren't unlocking its value. Your refund is part of your paycheque, and at the end of the day if you're receiving one it's because you've overpaid your taxes.
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America is a cult. Think about it: a cult is a system of veneration and devotion to a particular figure, object or idea. In this case, the object of veneration is America itself. One of the characteristics of a cult is control of the membership as, for example, by taxing them even if they live outside the country. Another characteristic is shunning as in making it difficult and expensive for members to leave.
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When it comes to acting as executor of an estate, there is no shortage of responsibilities that should be carefully reviewed prior to accepting the role. One of the most fundamental duties is that all estate related income tax documents are filed and in good standing.
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Being from B.C. isn't half bad, either.
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For many Canadians, the biggest single payment they receive all year is their tax refund cheque. How long you'll wait between filing and receiving your refund depends on a number of factors.
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Saying "I do" has an impact on almost every aspect of your life including your tax return. If you've recently tied the knot or plan to in the near future, here are the answers to common newlywed tax questions.
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Dear valued wealthy client: First, we'd like to apologize for corresponding with you directly. We know that you prefer that we communicate with you through your accountants or your esteemed team of corporate tax lawyers.
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Alberta has low income tax rates. Other provinces, not so much.
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By making it easier to navigate the tax rules and meet their obligations, Canadians will spend less time and less of their money on preparing their taxes, leaving more in their pockets. For Canadian businesses, productivity could improve as they spend less time, effort and capital dealing with tax compliance and red tape.
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Whether you're a student or parent of a student in post-secondary studies, filing a student return for the first time may raise some questions -- but compared to studying for finals, writing research papers or adjusting to living on your own, filing taxes as a student is quite simple.
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It's been a really tough year for a lot of my friends here in Western Canada. Towards the end of last year, news stories about job losses in Alberta were the most important newsmaker of the year. It's unfortunately a familiar story for a lot of employees who work in the oil patch.
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Income tax return time is coming up and so many of us are already thinking about all of the great things we can buy with the return. It's been a crazy year personally, politically and professionally and we all can look forward to a treat. But how will you get the most bang for your buck?
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For students, the month of April is quickly approaching and with it comes not only the stress of final exams but also the deadline for filing your tax return. Of course you need to make sure you're paying what the law requires, but you also want to take advantage of some of the ways that students can reduce their tax bills.
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Businesses have disrupted their respective industries by embracing the sharing platform, which creates new opportunities for those willing to get involved. Each day, there are new apps or programs popping up in cities across the country that make the sharing economy that much easier to operate in.
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Today, it takes more brains and effort to make out the income-tax form than it does to make the income. - Alfred E. Neuman 1) Prioritize Three Contributions RRSP Offers best tax sheltering option for...
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The change will cut taxes for those in a lower bracket.
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In an attempt to increase transparency, Prime Minister Justin Trudeau has made "mandate letters" to his ministers publicly available. These letters are intended to clarify the focus of each minister's portfolio. When it comes to the mandate delineated for the minister of finance, the prime minister should seriously rethink some of the priorities.
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There are many expectations for this new government and we are all anxious to see how they deliver on their platform. Saying goodbye to boutique tax cuts that only benefit the few should help more of us and make the whole process of filing your tax return less painful.
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When it comes to second marriages and estate planning, there are many issues to which a will-maker must be alert. Keep in mind that personal family dynamics play an important role in determining what estate plan will work best for you.
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How is it that everyone seems to know someone who's paid under the table, but no one concedes to doing it? Of course, that's no surprise. Who wants to admit to putting personal gain ahead of the greater good? It costs jobs, undermines businesses that play by the rules, and deprives the government of much needed revenue for vital programs. Statistics Canada says the underground economy totalled $42.4 billion in 2012, roughly 2.3 per cent of gross domestic product, much of it occurring in the construction, finance and real estate, retail and hospitality industries.
PARIS — France is considering making 2017 a year free of income tax. The government wants to shift to a system of automatic withholding, similar to that in the United States and much of the rest of th...
Thank you, "human error."
As Thursday’s tax filing deadline nears, many procrastinating Canadians are feeling the pressure to gather all their information and start crunching the numbers. A new Fraser Institute report suggests...
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The Liberal finance minister assumed that taxes were useful but indeed a loss -- not to government, but to the citizens who pay the tax. Taxes are necessary, but we must be judicious about the money sent to politicians and civil servants. That includes understanding the money first belongs to Canadians.
It's bearing down on you like a boulder rolling down a hill: Tax season. Ok, so maybe it isn't that bad, but really, what are you waiting for? The deadline to file is April 30th so if you haven't got...