8.3.9 Summary of key messages

From: Financial Consumer Agency of Canada

  • Canada's tax system provides many deductions and tax credits that will reduce the tax you pay. It pays to find all the deductions and credits that apply to you.
  • The tax deductions and credits that apply will vary through your life as your family and financial circumstances change.
  • The way the tax deductions and credits apply are very specific, so check the General income tax and benefit package or get expert help to see how they apply to you.

At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage your taxes successfully in the future. Use the action plan as a roadmap for financial action!

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