Can I lose money by getting a pay increase? Could my taxes go up higher than my pay increase if it bumps me into a…
Comments closedTag: taxes
I’m trying to clarify how much tax is saved when I contribute to an RRSP. If I earn $100k at a tax rate of 40%…
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I am interested in learning about donation tax credits. How is the value of a donation determined when donating an item? Such as say packaged…
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I’ve started looking into starting an RRSP account and have been hearing some conflicting information, so I have a couple of questions: I looked at…
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According to the CRA: “Contributions to a TFSA are not deductible for income tax purposes. Any amount contributed as well as any income earned in…
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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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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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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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