https://padlet.com/kobeimcleishdiaz/Bookmarks By: Kobei McLeish-Diaz 100647589 en-us 2020-11-29 18:55:39 UTC 2023-01-29 19:26:51 UTC hello@padlet.com kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969308923 Hello,

My name is Kobei, and my padlet with be walking you through some resourceful tips that will benefit you.

Every Canadian Citizen must file an income tax report if they seek to receive some sort of benefit. These benefits may include Old Age Security, Child Care benefits, Employment Insurance among other things.  ]]> 2020-11-29 20:46:41 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969308923 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969325185 2020-11-29 20:59:20 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969325185 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969325509 2020-11-29 20:59:34 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969325509 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969325879 2020-11-29 20:59:47 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969325879 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969326105 2020-11-29 20:59:59 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969326105 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969378734 Website #1: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/you-have-file-a-return.html

This link takes you to the Ontario government's website, which informs you on conditions and requirements needed to file a tax return. 

I choose this website because it gives you a pathway to understand if you're required to file a tax return. This is useful because international students might not understand if they fit under the criteria. 


Website #2:   https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/refunds.html

This link takes you to the CRA website, which provides information on how long it takes to receive you income tax refund depending on how you filed.

I wanted to bring this link into attention because, when filing an income tax report you either owe money or receive a refund. Most people who receive a refund may expect their money ranging from 2-8 weeks. This link tells you the benefits of filing online over mail.

Website #3:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/community-volunteer-income-tax-program/need-a-hand-complete-your-tax-return.html

This link brings you to the CRA website. It discusses free tax clinics provided by the government. It informs citizens where to seek tax filing help in-person, or drop-off and pick ups.

I found this link interesting because for Canadian citizens or Permanent Residence who require help filing their taxes, the government has given them a pathway. You are able to see if your eligible for this free help on their website. 

Website #4:
 https://www.investopedia.com/terms/r/rrspdeduction.asp#:~:text=An%20RRSP%20deduction%20is%20the,cap%20that%20is%20revised%20annually.

This website takes you to Investopedia. Upon clicking on the link, they provide RRSP tips, and the legal maximum 18% contributions for the calender year.

I chose to provide this link because an RRSP is a useful tool that can be used to reduce your tax bill. By contributing to this fund, it lowers your taxable amount of income, thus allowing you to pay less tax. ]]> 2020-11-29 21:41:54 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/969378734 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/970167136 Video #1:
https://www.youtube.com/watch?v=FRW1lZJ4-dg

This is a video of Rob Tetrault discussing what income splitting is, and how it can benefit you. 

This video is interesting to me because it talks about another tax saving strategy, which saves you money. This tool allows you to place money in a spouses registered account, and allows you to claim the deductions as well. 

Video #2:
https://www.youtube.com/watch?v=4MtB-I0QNPY

This video is from a YouTube channel called GTA Accounting. This discuss what capital gains mean on properties, and the effects it can have on your income tax.

I chose to include this video because capital gains or losses are one of thee most fundamental parts of investing. In Canada, you are only required to pay tax on 50% of your gains on investments. You are also allowed to carry forward capital-losses into new calendar years. 

Video #3:
https://www.youtube.com/watch?v=l1Kn8bV08oY

This video link is of a women walking viewers through a income tax software, and providing a tutorial on how to file their taxes.

I believe this video is important because, we need to conceptualize an income tax report and how to file one. There are many different tools and rules required to follow, so by watching someone complete a step-by-step guide, it is very benefitical for viewers.    

Video #4:
https://www.youtube.com/watch?v=Dwjykm_lnuo

This video was created by Soni Bro's Investing. Within this video it talks about the importance of signing up for the CRA my account. 

This video highly suggest the need to use the CRA My Account. As a user of this service I cannot agree more to the suggestion. This resource gives you the most up to date information regarding your contribution room for your registered accounts, as well as information regarding you income taxes.


]]> 2020-11-30 06:38:13 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/970167136 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/970168960 Image #1:
- This image is of a Canadian Federal and Provincial tax bracket. Any person filing their income tax is subject to be placed within a tax bracket. 

Image #2: 
- This image is a screenshot of free tax software that the CRA provides Canadian's to use. This software is the most up to date for the filing year, and can be linked to NETFILE.

]]> 2020-11-30 06:39:14 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/970168960 kobeimcleishdiaz https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/970169614 What I Learned.]]> 2020-11-30 06:39:35 UTC https://padlet.com/kobeimcleishdiaz/Bookmarks/wish/970169614