View Full Version : where to find out about taxes?
UrbanPoet
Feb 18th, 2005, 04:03 PM
Umm.. where can i find out information about taxes?
eg. tax brackets
purchases that are 'deductable'
other related things
you see i never learned any of this in school, and my brother handles all this stuff for me. Im a student w/a parttime job so Taxes were never really that complicated for me anyways. But where can i start learning about this stuff so i can know later on for my own reference?
robattoronto
Feb 18th, 2005, 04:10 PM
http://www.taxtips.ca/tax_rates.htm#ONTaxRates
ctam
Feb 18th, 2005, 04:33 PM
There are a lot of books out there that provide good info in regards to personal finance and taxes.
It is also good to talk to a financial consultant. In fact, talk to a few of them.
Jono
Feb 19th, 2005, 11:09 AM
Kind of a general question. Another good place to start is Canada Revenue Agency's website - they have lots of guides you can download and read when you have the time.
http://www.cra-arc.gc.ca/tax/individuals/topics/learn-tax/menu-e.html
B40
Feb 19th, 2005, 11:46 AM
I'd suggest a "For Dummies" type book, probably the easiest way to go. Anything more advance may be confusing and too technical.
orbit
Feb 19th, 2005, 01:35 PM
Can I ask, would you be more interested from a business or an individual's point of view? I can point you in a few directions if you let me know. Or, if there are a few topics that are of interest to you, let me know. Regarding your question about tax brackets etc.. it varies a little depending on province of residence. I also find that people misinterperet what tax brackets actually mean. Here's a good fact sheet that you might find interesting (page 2 for info):
http://www.deloitte.com/dtt/cda/doc/content/ca_tax_QTF2004-E.pdf
Regarding what purchases are deductible, that's why I ask for business or individual, because they are quite different.. and usually the question is - deductible from WHAT kind of income? Business income, employment income, etc.
A lot of useful information for you will come from Canada Revenue Agency's "IT Bulletins" or interpretation bulletins. You can search for specific topics here, but if you post what you are most interested in I can maybe give you direct links. Of course, this information is free.
http://www.cra-arc.gc.ca/search/menu-e.html
I've got the full database of pretty much everything here. PS, I'm a CGA.
UrbanPoet
Feb 19th, 2005, 02:01 PM
ohh. Just an Individual point of view! im still a student.. so the only jobs im holding down are part time where i wont go over that limit where i start to do complicated tax returns. alli really do is fill like 3 lines and im done.
But im thinking its good to know now then get my first job, have april come around and get all iffy.
Those are awesome links tho
orbit
Feb 19th, 2005, 03:50 PM
Since you are a student, here's a link to a CRA pamphlet called "Students and Income Tax". Very very basic, but maybe you will find something interesting:
http://www.cra-arc.gc.ca/E/pub/tg/p105/p105-e.html
I think this is the same info, just in a different format:
http://www.cra-arc.gc.ca/tax/individuals/segments/students/menu-e.html
The link Jono provided above is also good:
http://www.cra-arc.gc.ca/tax/individuals/menu-e.html
Which province are you located in?