How Can I Save Tax?
31.05.2022
There are a number of ways you can save tax, and it really depends on your individual circumstances. Here are some general tips:
- Review your taxes regularly. This way you can ensure that you are taking advantage of all the deductions and credits you are entitled to.
- Stay organized. Good record keeping will help to ensure that you do not overlook any expenses that could be deductible.
- Invest in a Registered Retirement Savings Plan (RRSP). Contributions to an RRSP are tax deductible, and the funds grow tax free until withdrawal.
- Make use of government programs and benefits. For example, the Canada Pension Plan and Employment Insurance both offer incomereplacement during periods of unemployment or disability. These program payments
