Do not leave your return to chance, hoping to get a bigger return this year. You could get a better return every time you file. You have to understand the amount of income you received and the amount of tax that was taken from it by your employer. Each Canadian resident gets a multitude of tax credit and deduction to used every tax filing season. This credit and deductions will help reduce your taxable income and possible increase your return.
Every taxpayer who is working and earning income are able and may be eligible to open a Register Retirement Saving Plan. You are allowed contribute up to 18% of your annual income plus any carry forward unused contribution room.
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