RRSP Deduction Limit for 2021 You can deduct up to 18% of your income for contributions to an RRSP. The maximum contribution limit is currently $29,210 for 2022. Your actual amount of the deduction may be higher than that amount, depending on your income, contributions, and other factors. If you […]

No inheritance tax in Canada In Canada, there is no inheritance tax, meaning that the estate does not pay taxes. However, if a surviving spouse or common-law partner inherits a portion of the estate, the surviving spouse or common-law partner must pay taxes on the income earned during the year […]

The Canada child benefit, previously known as Canada Child Tax Benefit, is a tax-free monthly payment for families in Canada with children under the age of 18. It helps eligible families with expenses related to raising their children. This program was created to help families who are struggling to make […]

Whether you are new to Canada or have lived in the country for many years, you can benefit from Canada tax-tips. The country’s tax laws can be complicated, but there are several resources that can help you get your tax return done properly. These resources can include information on filing […]