Understanding Canadian Tax Rates

I have sometimes heard it said, “There’s no point in earning extra income; it’s just going to be taxed away.” Oddly enough, no one seems to turn away a raise.   Graduated vs. Flat Tax Canada has a graduated income tax regime. This means that the more you...

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Is Your Home an Investment?

A few years ago, a 30-ish man moved into a house across the street from us. Shortly after, we saw a large bin placed in the driveway and, based on the debris going in, it soon began to look like a good section of the...

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The Benefits of Charitable Donations

An Introduction to Tax Planning – Part 5 The numbers of people who are applying for Employment Insurance (EI) and the Canada Emergency Response Benefit (CERB) and other supports that the government has rolled out in recent weeks are just staggering. Perhaps, like me, the figures...

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Taxation of Investment Income

An Introduction to Tax Planning – Part 4 You think of yourself and your spouse along with your two children as an average family. Like me you are a resident of London, Ontario. Between the two of you, you earn about $80,000 per year or about...

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