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How can I get free money from the government?

How are tax deductions calculated?

What is the Federal Income Tax? Are the rates higher than the states?

Why does Canada have two federal tax brackets?

What is an Individual Tax Number?

What happens to a dividend if I’m not a Canadian resident?

Do I have to pay federal income tax when I buy a rental property or a home?

Why are taxes so high in Canada?

Do I owe the federal and provincial taxes on my investments?

Why does the Canada Revenue Agency allow companies to deduct foreign taxes? What about the rest of the world?

How much do mortgage interest and rent payments cost?

How do I find good investments?

Are there any other tax options? There Are several tax options if you want to avoid paying Canadian taxes on your income: Personal tax deferral : For low income earners, you qualify for a tax-deferred tax credit and some other advantages. Generally, you pay less on your income in tax years that are more favorable to you. Your tax situation will be adjusted the following year.

: For low income earners, you qualify for a tax-deferred tax credit and some other advantages. Generally, you pay less on your income in tax years that are more favorable to you. Your tax situation will be adjusted the following year. Income-tested tax-free savings accounts : These tax programs generally pay out a dividend tax credit to eligible Canadians to offset tax savings on their dividend income for the year.

: These tax programs generally pay out a dividend tax credit to eligible Canadians to offset tax savings on their dividend income for the year. Employment Insurance benefits: You may be able to claim unemployment insurance benefits with no work in Canada. When claiming these benefits you may receive a lower tax benefit than if you received your pay directly from the Canadian government.

How do I know where to file to get a tax deduction?

You can find our filing rules, deadlines and requirements here.

You will need to know how much your salary is and what you do with it. The most likely place where you’ll file is your annual tax return, as there are several different methods to file. You may be able to reduce your tax bill by filing on paper.

The Federal Tax Rates by Province (updated May 2011)

For each province, let’s take a look at the federal income tax rates at different income levels and tax brackets:

British Columbia $0 to