Module 8: Income taxes
New tax filing and payment due dates
- The due date for filing individual tax returns has been extended to June 1, 2020. Taxpayers will have until September 1, 2020 to pay any 2019 income tax amounts owed. Find more information on tax measures to help support Canadians during the COVID-19 pandemic
You can apply for the Canada Emergency Response Benefit (CERB) in CRA My Account or over the phone.
- some basic facts about taxes
- what counts as taxable income, and how different types of income are taxed differently
- standard deductions and tax credits that reduce the taxes you pay
- how plans like Tax-Free Savings Accounts (TFSAs) and Registered Retirement Savings Plans (RRSPs) can help you save money and reduce your taxes
- how to file your taxes and avoid problems with your tax returns.
Throughout the module, you will find learning tools that you can use now and in the future:
- quizzes that illustrate significant facts about taxes
- worksheets and checklists to help you reduce your taxes and avoid mistakes
- calculators to help you estimate the benefits of registered tax plans
- a video that gives you tips on managing your taxes efficiently
- an action plan of steps to help you minimize your taxes.
The information in this module is for general understanding only. For up-to-date details and to see how to apply the information in your own situation,go to Canada Revenue Agency . If you also pay income taxes in Quebec, go to Agence du Revenu du Québec .
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