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The study challenges the Fraser Institute's assertion that Canadians pay upwards of 40 per cent of their income in taxes.
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If you earned little and didn't file a return, you're likely missing out on money.
Tax deductions cost $100B annually, and the vast majority help the richer half.
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Tax season has arrived in Canada. For some, it's a time to celebrate how much they'll receive on their returns. For others, it's time to complain about how much they have to pay to the government. Sur...
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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B.C. may very well have some of the lowest personal income tax rates in Canada, but that doesn't mean the lowest tax bill. So doing that "lowest personal income tax" thing is a cute trick, but at the end of the day it's a trick. And not a particularly empathetic one.
Canada’s income inequality may be much worse than statistics suggest, because Canada’s biggest earners are hiding their actual incomes by incorporating themselves, says a new study. Recent measures of...
OTTAWA - Canada's budget watchdog says Canadians are paying Ottawa about $30 billion less this year — or a little less than $1,000 per person — due to tax changes introduced in the past decade.The Par...
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With this year's tax deadline approaching rapidly, many people's thoughts are turning to the shell-shocking amount of money the government routinely takes from our paycheques. On that front, the Organ...
Don’t panic. The time to file 2013 income taxes is upon us, with less than a month to go until the April 30th deadline. Some Canadians are scrambling to collect all their receipts and income slips, wh...
MONTREAL - Globalization is luring Canadians every year to work, travel or retire in low- or tax-free countries with the mistaken belief that they can shed their tax obligations at home.But experts in...
Our beautiful landscape, outdoorsy way of life, and mild weather can only overcome a certain amount of taxes. People are already beginning to vote with their feet, leaving our province for greener pastures -- another spin that will continue to speed up if the BC Liberals do not reverse course.
If you come across claims that you don’t have to pay income taxes in Canada because you’re a “natural person,” you’d be well advised to ignore them, or Canada Revenue Agency may be coming after you. C...
For the first time in Canadian history, more than half of the federal government’s revenue in 2014 will come from personal income taxes -- a vivid sign that Canada’s tax burden is slowly shifting away...
Families now pay more in taxes that they do for basic necessities. While personal income taxes are the single largest type of tax paid by families, they represent less than one-third of the total. There are a host of less visible taxes that Canadians pay but do not see.
If you don't pay your taxes, Canada Revenue Agency will send you letters asking for their money. They won't give up, and if you owe a large amount and don't pay, they have the power to freeze your bank account, garnishee your wages, and put a lien on your house.
No matter how your academic career ends, there comes a point when you join the workforce and (hopefully) start earning a regular paycheque. Earning income means you have the privilege of paying income tax. It may not be your first thought, but tax planning is an important part of a financial plan.
In January, Ottawa paid out more than $2 billion in GST tax credits, child tax benefits and universal child care benefits. To ensure you get your share of those and other benefits and tax deductions,...
There are many different types of tax preparers but one of the most trusted is mom and dad. Many younger Canadians rely on parents to help them file their first tax returns, but there does come a time when you need to take control of your tax return and learn how to prepare it yourself.
Not everyone likes February. It can be cold and snowy, and it is the official start of tax season, so it is easy to see why it may get a bad rap. But the end of the month is also the deadline for Canadian employers to issue T4 slips, and they can lead to a tax refund.
Most people know that if they file their personal tax return after the deadline, they’ll be assessed a penalty – five per cent of the amount owing, along with one per cent a month in interest. If they...
TORONTO - A group of doctors is calling on federal and provincial governments to raise income taxes levied on high-income Canadians.They are launching a campaign to get support for the idea, using the...
OTTAWA - Brian Topp is boldly going where most Canadian politicians fear to tread: promising to make the wealthy pay more in taxes.The perceived frontrunner in the NDP leadership race wants his party...