Taxes, Tax Reduction
In this section we outline the taxation system in Canada. We cover legal tax reductions and other questions. There are many different ways to reduce taxes. The most obvious and common is RRSP, TFSA, Health Insurance Plans, borrowing money for investments with reasonable expectations of earning income.
If you are self-employed or an owner of incorporated business, and during the last few years you incurred thousands of dollars in losses, or if you deduct job-related expenses, there is a good chance that Canada Customs and Revenue Agency will decide to check you out (get to know you better, take a closer look at you). The audit is an unpleasant thing but you can survive it if you are prepared
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