Your marginal tax rate is the tax you pay on your last dollar of income, and more importantly for tax planning, what you'll likely pay on your next dollar earned. Since Canada operates on tax brackets, you will pay more tax when you earn more. But you can also use these rates to ...
Category Archives: Taxes
Are Taxes In Canada Really That High?
A Press release by Fraser Institute showed the total tax bill of the average Canadian family has increased by 1,624 per cent since 1961, while expenditures on housing increased by 1,198 per cent, food by 559 per cent and clothing by 526 per cent from 1961 to 2009. The report was ...
Tax Refund – Will You Invest It?
Most people know that April 30 was the tax filing deadline for individual taxpayers. But the big question, in terms of maximizing all your benefits is this: What are you going to do with your tax refund? Will you spend it or invest it?
Tax Tips For 2010
“In this world nothing is certain but death and taxes.” That’s one of my favorite quotes from Ben Franklin, the eighteenth century American author, diplomat, inventor and scientist who’s iconic image is associated with my company, Franklin Templeton Investments Corp. Death, of course, is inevitable. ...
Investors: Check Your T4 Slip For Last Minute Tax Deductions
Investors on the lookout for an often overlooked tax deduction should scan their T4 slips carefully. If there is a notation at the bottom of the slip that refers to Box 36—Interest Free or Low Interest Loan, it’s possible that you will qualify for a deduction under Carrying Charges, ...
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