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Taxes are amount of money collected by government to run the government services.
Income taxes are those which are applied to the income of a person

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To calculate the taxable income deductions should be subtracted from the total income.

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1. It is important to calculate income for the calculations of tax. These following things are added in calculation of the total income: -

Salary
Wages
Commissions
Interest income
Dividend income
Capital loses and gains
Tips, prizes and awards.

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One can reduce the burden of the tax by use of tax credits.
Some of them are Refundable or Non-refundable.

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Tax Planning should be done in order to record activities and transactions. It helps in the elimination of the taxes.
Save money in the Tax Free Saving Account.
Maximize RRSP that is Registered Retirement Saving Plan.
Deduct employment expenses from your personal income.
Borrow money to invest in our Business.
Purchase tax free houses.
Claim your Medical expenses.
Split the income among family.
Tax- file should be on time.
Always maintain a record of each and everything.

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1. Personal Finance

2. 78 Tax Tips For Canadians For Dummies Cheat Sheet

No Canadian likes taxes, but if you do a little tax planning and claim all the credits and deductions available to you, you may just change your tune. These helpful articles provide tips on how to reduce the tax you pay so you keep more of your money, answer the most common Canadian tax questions, and tell you where to turn for tax help.

The Top Five Canadian Tax Return Questions Answered

When should you file your Canadian tax return? How do you get missing tax forms from the Canada Revenue Agency? These are just a couple of the common questions that arise at tax time. This article gives you the answers you need to eliminate tax-time stress and worry.

Where do I file?
If you choose to paper-file your return, the address where you send your tax return depends on where you live. The Canada Revenue Agency (CRA) sends you mailing labels in your tax package each year, but if you've misplaced them you can visit the CRA Web site to obtain the address of the tax office where you should send your return. You can also call 1-800-959-8281 to request this information.

Can I change my return if I find a mistake?
Yes, you can file a T1 Adjustment using form T1-ADJ, "T1 Adjustment Request," to amend your return for any mistakes you may find after the fact. You can also request changes online under the "My Account" option on the CRA Web site.

Where to Find Help with Your Canadian Tax Return

Questions about deciphering the Canada Revenue Agency's forms? Wondering when you will get your income tax refund or your GST credit? Here is the contact information you need, including toll-free phone numbers and the Web site address, to get the answers you want.

Have an income tax question? Call 1-800-959-8281.

Wondering where your refund is? Call 1-800-959-1956.

Waiting for your GST credit? Call 1-800-959-1953.

Waiting for your Canada Child Tax Benefit or Universal Child Care Benefit? Call 1-800-387-1193.

Top Tax Reduction Tips for Canadians

Just about every Canadian wants to pay less in taxes. This article spells out the best ways to reduce what you owe the Canada Revenue Agency (CRA), from Registered Retirement Savings Plan (RRSP) and Tax Free Savings Account (TFSA) contributions to pension income splitting. Follow these four tips and you will lower your taxes!

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78 Tax Tips For Canadians For Dummies Cheat Sheet - dummies

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No Canadian likes taxes, but if you do a little tax planning and claim all the credits and deductions available to you, you may just change your tune. These helpful articles provide tips on how to reduce the tax you pay so you keep more of your money, answer the most common Canadian tax questions, ...

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There are several resources for the income tax. These resources are provided by government as well as private companies. Some of the resources are:-

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Research Guides: Tax Law: Primary Resources for Income Tax Research

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Research Guides: Tax Law: Primary Resources for Income Tax Research

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Are you prepared? Get the right tax resources to keep your competitive edge

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Tax season is a busy time of year for financial professionals. Make sure you're ready with CPA Canada's library of tax resources, designed to provide practical guidance to help you optimize time and productivity.

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Some of the deductions, which are exempted from income tax are: -
Registered Pension Plan
Registered Retirement Pension Plan
Union/Professional Due
Child care expense
Support payments
Carrying Charges