1. If I have $0 in income, I can contribute nothing to my RRSP, right? Or is there a minimum every year I can contribute…
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What determines how much income tax I’ll pay in April? When I was making just 18k a year I had a tax bill of around…
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Do I have to file my previous years’ taxes before sending in this year’s return paperwork? The short answer is that you do not to…
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Usually when we get questions here we try to go into some depth in explaining the situation and possible answers. Other times our answer doesn’t…
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I’ve got about $100k saved in RRSPs that I want to gradually access over the next four years (25k per year). Knowing this, what are…
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If I don’t pay my taxes in time, what’s the penalty? In the short term there isn’t a fixed penalty, exactly, for not paying on…
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I’ll probably make less than the basic personal amount this year (around $13k?), but I’m still seeing deductions on my payslip. Why is that? Should…
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Just started working for myself (self-employed). How much money should I put aside for income tax? Congratulations on your new career! The amount of income…
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I’m a contractor and need to put money aside for income tax. Where should I put it until I need to pay taxes (RRSP, TFSA,…
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