Module 8: Income taxes
- 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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