Skip to main content

Featured

Your daily horoscope: February 11, 2026

  IF TODAY IS YOUR BIRTHDAY Creative activities of all kinds are under excellent stars on your birthday, so decide what it is you most want to work on, then put your heart and soul into it. Something that exists inside of you will very soon exist on the outside as well. ARIES (March 21 - April 20): You may be entitled to get tough with someone who has let you down yet again but will they learn from the experience? A better approach might be to just cut them out of your life as quickly as you can. Don’t waste time on them. TAURUS (April 21 - May 21): You may be one of the zodiac’s more focused types but you are not incapable of seeing the bigger picture and what happens today will make it easy for you to work out what’s been going on. After that you must do something about it. GEMINI (May 22 - June 21): An unexpected event will work in your favour today and while others are bemoaning their luck you will be delighted that the universe is on your side. But if you want it to stay on yo...
Post a Comment
Read more

article

Labels

Maximizing Savings: A Guide to 2023 CRA Tax Breaks for Canadians

 



As we welcome the new year, it’s crucial to stay informed about the various tax deductions and credits available to Canadians. These financial incentives can significantly reduce your tax bill and potentially result in a substantial refund. Here’s a brief overview of six key tax breaks offered by the Canada Revenue Agency (CRA) for the 2023 tax year:

  • Dividend Tax Credit: Investors can benefit from this credit, which applies to dividends received from stocks like Fortis Inc. The credit is calculated based on a “grossed up” amount of the dividends, leading to a reduced tax bill.

  • RRSP Contributions: Contributions to a Registered Retirement Savings Plan (RRSP) are deductible, lowering your taxable income and, consequently, your tax bill.

  • Work-from-Home Deductions: Self-employed individuals can claim their entire workspace, while conventionally employed workers can deduct work-related expenses.

  • Disability Tax Credit: This credit provides relief for costs incurred due to a severe disability, offering a significant deduction for both oneself and eligible dependents.

  • Tuition Fees: Educational expenses, including tuition and textbooks, are eligible for a tax credit, easing the financial burden of higher education.

  • GST/HST Tax Credit: A direct payment is made to individuals with incomes below a certain threshold, helping to offset the Goods and Services Tax/Harmonized Sales Tax paid throughout the year.

By taking advantage of these tax breaks, Canadians can effectively manage their finances and save money as they navigate the complexities of the tax system. Remember, every deduction counts when it comes to maximizing your savings.

Labels:

Comments

Post a Comment