How income tax works

Find out more about how income tax works, including tax deductions and tax credits, and try our interactive chart to see what tax bracket you are in.

3 min read

Reducing the tax taken from your pay cheque

If you’re an employee, your employer will deduct income tax from your pay cheque. This is known as tax deductions at source. Reducing the amount of tax withheld will increase your net take-home pay.

2 min read

RRSP and TFSA contributions

Your annual RRSP contribution room is determined by how much income you earned the previous year. You can deduct contributions to your RRSP but not your TFSA.

3 min read

Investors and tax

The amount of tax you pay on your investments depends on the type of investments you hold, and the type of account they are held in.

5 min read

Medical and attendant care expenses

You can claim a tax credit for medical expenses for yourself, your spouse, and minor children that you paid in any twelve month period ending in the current tax year.

3 min read
Showing results 1-12 of 18