How Can I Save Tax?

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

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