How to Calculate Income Tax in Canada?

Answer The Canada Revenue Agency (CRA) makes tax-rate information for both the federal and provincial governments available on its website. (See Resources) Using your gross salary information you can us... Read More »

Top Q&A For: How to Calculate Income Tax in Canada

If one received a financial compensation for loss of limb from an insurance company is that money taxable and should it be included as income for income tax in Ontario Canada?

That is going to depend on your destination. For example, if you are flying into the United States you could opt to get travel insurance from American Visitors Insurance, a well known travelers' he... Read More »

How to Calculate Rental Income From Income Tax Return for Mortgage?

Each year taxpayers must to report their rental income on their taxes. Often if a person is trying to obtain a mortgage, he will need to provide the rental income to the lender. The taxpayer can si... Read More »

Income Tax Information for Canada?

Canada has been collecting income tax since 1917, according to the Canada Revenue Agency. Canadian income tax is payable both to the federal and provincial or territorial governments based on an in... Read More »

Definition of Low Income in Canada?

Three distinct measurements define low income in Canada. Statistics Canada uses the "Low Income Cutoff," based on the ability to purchase necessities, and the "Low Income Measure," based on inequal... Read More »