Tax Pros: Canada’s Tax System Has Taken a Big Hit

Canada’s tax and financial pros weighed in enthusiastically on last month’s two-part Knowledge Bureau Report Opinion Poll in which we asked: "Do you believe Canada’s tax system based on self-assessment, has suffered under recent changes at CRA and by Finance Canada?" 71% said yes. Part 2 was this question: "If so, what is the one wish you have for tax reform?" The responses were very interesting:

Understanding the concept of “goodwill” will work to your advantage, as Greer Jacks explains in this first of a two-part series.

This week: 10 neat things about light.

In some countries, such as the United States, taxation is based on citizenship. In Canada, however, the government levies income taxes based on residency. 

Federal tax returns are required to be filed by all Canadians who have a balance due or file to recover overpaid taxes or refundable tax credits. Provincial taxes for the whole year are based on your province of residence on December 31.

Sharpen your knowledge and access the tools you need to ace your tax preparation — free trial available!

Learn effective and practical money-saving strategies! KBR readers receive $5 off if they order before January 21.