The tax deadline is nearly upon us. Are you claiming all of the tax credits and deductions you’re entitled to?
If you’re not taking advantage of all of the tax credits and deductions you’re entitled to, you may be paying more to the government than necessary.
- Along with contributing to an RRSP, there are several other ways you can lower your tax bill:
Five tax breaks you may not know about
- There are child-related tax benefits you may be eligible to claim:
Child tax benefits from daycare to swim lessons (Infographic)
- If you’re a married or common-law couple there are four easy ways you can income split:
Four easy ways to income split
- From bonds to stocks to mutual funds, it’s important to understand how your investments are taxed:
Seven taxes on investments you should know about
- If you report pension and/or annuity income in your tax return, you may be eligible to claim up to a $2,000 tax credit:
Do you qualify for the pension income tax credit?
- And remember to claim any year-end donations you made to charity:
The benefits of year-end charitable donations
Be sure to pay what you owe on time as the Canada Revenue Agency charges interest on unpaid income tax owing for the previous year starting on May 1. But taking time to review your eligible tax credits and deductions can help ensure you don’t pay more than you need to!
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