Chapter 24: Canadian Taxation

In this section

• The Canadian Taxation System
  Dive into Canada’s self-assessment principle, progressive tax structure, and core responsibilities for individuals and businesses under the federal Income Tax Act and provincial tax regimes.
• Capital Gains and Losses
  Explore the fundamentals of capital gains and losses in Canada, including taxation, adjusted cost base, principal residence exemptions, and best practices for accurate reporting.
• Tax Deferral and Tax-Free Plans
  Explore how Canadians can benefit from RRSPs, RPPs, TFSAs, RESPs, and RDSPs by leveraging tax deferral and tax-free strategies to optimize their financial growth.
• Tax Planning Strategies
  Explore effective tax planning techniques designed to minimize tax liability, optimize after-tax returns, and maximize wealth in the Canadian context.