Posted on December 12, 2021

The CRA (Canada Revenue Agency) has released their Federal Tax Guide for 2018, and it’s time to learn about all the changes. One of the most major changes is how much tax you’ll owe on income from employment. This means that if you make $100,000, your income will be taxed at a higher rate.

The first thing to know is that employers are responsible for withholding Canada Pension Plan contributions, Employment Insurance premiums and federal income tax from your paycheque. These amounts are taken out of each pay period throughout the year. If you have not paid enough into these programs throughout the year, then you will have to pay additional amounts when filing your 2018 taxes by April 2019.

Another major change is where investments are considered passive or active income. Passive investments are those that

Table of Contents hide
1 Introduction: Your 2018 Tax Return Ahead of Time
2 What to Know About Your Taxes in Canada
3 How to Prepare for Your Taxes in Canada
4 Canadian Tax Facts and Statistics
5 The Canadian Tax Authority & How It Can Help You

Introduction: Your 2018 Tax Return Ahead of Time

You know that it is time to file your tax return when you are expecting a refund or have any other paperwork to submit.

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Introduction: The first thing you need to know about Bitcoin is that, it is not just a currency. It is also a payment system or protocol. Bitcoin payments are made without middlemen, so there are lower fees for both the buyer and the seller. These transactions can be for goods or services rendered, donations, or other things like paying an invoice. Bitcoins can equally represent property rights as well as shares of stock in online companies.

What to Know About Your Taxes in Canada

Taxes are a big part of life for Canadians. And it isn’t always the most pleasant thing to think about.

The good news is that there are resources out there that can help us with our taxes. This article highlights some of the key things to know about taxes in Canada.

Canadian taxpayers have two options when filing their taxes: they can use an accountant to do it or they can do it themselves, using tax software. The obvious question is which option should you choose? It really depends on your individual needs and circumstances, but there are many compelling reasons why people choose to pay an accountant for this service instead of doing it themselves.

How to Prepare for Your Taxes in Canada

The first step to preparing for your taxes is knowing which forms to fill out. Other things that you need to know are your income, taxable income, deductions, credits, and savings.

Tax preparation can be done on the CRA site where they have a calculator for figuring out how much you would owe or receive from the government. You can always contact a tax accountant if you want more in depth information about what is going on with your taxes and how to prepare.

Canadian Tax Facts and Statistics

Canadian tax system is a comprehensive and complex subject. Canadians don’t need to be experts in order to file their taxes. The following article provides you with all the necessary information about Canadian taxes, so that you can be fully informed and tax compliant.

Canada’s Federal Income Tax System is progressive, meaning that as income increases, so do the rates of income taxation. This means that the more you earn the higher your rate of taxation will be.

The federal government collects personal income taxes from Canadians and redistributes these funds through public expenditures such as grants and loans for education and infrastructure projects, healthcare and social assistance programs, public transit schemes and much more.

The Canadian Tax Authority & How It Can Help You

The Canadian Tax Authority (CRA) is the country’s national tax administration. Employers, banks, and other financial institutions are required to submit certain information to the CRA. The CRA also has access to this information. This can help you if you think that you might owe money or need more time to file your return.

The CRA is a resourceful place to go when it comes to tax-related issues. They offer many services ranging from filing the taxes, making payments, tracking personal finances, and online banking for small business owners.