HOW TAXES WORK IN CANADA | REDUCE YOUR TAX BILL | Canadian Tax Guide Chapter 1

wow im beyond words. your channel is awesome. this has made things so easy to understand for me as an immigrant. i am hooked and watching your videos everyday during the holidays Also you have a very engaging and simplified way of explaining these concepts otherwise these financial terms usually go over my head. could you please make a video on how side businesses are taxed and tackled when running in combination with fixed income. like you mentioned in this video. i will be really thankful for that. wish you a prosperous new year!!

Thanks very informative vid - can rental income be termed as business income?

Amazing video !!! Thank you

Love the simplicity here! Does this tax bucketing system still the same?

Legend. Ngl, youre making this learning process a whole lot easier for me ! Cheers

i recently started back to work and also just started receiving my cpp. work docs asked if i still want to contribute to cpp, should i?

Wow... so... I'm likely to be broke forever then...

Quick question here. Are provincial taxes calculated from your gross income minus federal income tax.

Hello, I’m planning to move to Canada, I’m from Mexico and I am an accountant, I want to know more about taxes in Canada, thank you for your content, It’s helpful for me.

well explained thank you

Your the 🐐

Great video

👏👏👏best video 👏👏👏

Great content !

Love your videos ❤

Thank God u made a ig page and showed up in my feed

Thank you 🙌🏻

Very interesting! Thanks

Amazing video! Do you have by chance a video that explain how the Basic Personal Amount (BPA) is addressed /calculated on the income tax?

It’s amazing sir. Please keep posting such videos.👍🏻

Thank you for this incredible video with so much excellent tax information in a brief but comprehensive. I'm curious about Ey. As I open the link, it doesn't work and doesn't calculate any amount? I would be grateful if you give any clue or advice.

I'm so happy I came across this video.... A bit late but still on right time I'm seeing it.
Thank you for sharing this 🙏 ❤❤

Would love some videos about taxes related to rental properties!!

Thank you .... i am a new comer and your videos are the best ... thank you

So If I charged $500 for a service, then paid my employee $150 and myself $150 and $50 for expenses does that mean I only pay taxes on the remaining $150 for my corporation?

Hey bro, So if I start a business in ontario, how much percentage should I put aside for taxes for each sale I make?

this video is so great

Not about how much money you make, but it's about the money you KEEP! I JUST read this in Tony Robbins' Unshakeable book, too. Love to see this

I don't understand the 100k full time T4 income and 30k side business expense. when I do tax, the accountant first does my T4, the 100k, then do my HST business tax, if I have 30k expense n 10k income in side business, my HST tax still be 0, it doesn't lower the T4's 100k tax. So is my accountant wrong? Or I can use side businss expense to reduce my full time T4 income? Because ur vid make it sound like it side business expense can reduce T4 tax..So pls help :)

How do taxes work when on long term disability ?? I am off work due to a head injury, and I know my insurance company isn't taking the necessary taxes. How do I make sure I don't get screwed at tax time ?? 🤔

Love it!

Where did he learn all of this? Is the Canadian T-shirt an accountant?

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“in this world, nothing is certain except death and taxes” - tax is such an important topic yet most of us were never taught about it in school properly. Thank you for explaining this huge topic in an easy to understand way! 👍

Hey Adrian, I just wanted to say thank you

If I'm scrutinizing my finished multi-page tax return, what are the main things to look for? I assume gross income. If I want to make a ledger to see how my numbers change over the years, which totals would tell my financial story? Great video- thanks!

I am swamped by taxes. I pay taxes into my salary, then i pay taxes over anything i buy, than i pay taxes over rent on a foreign country) than i pay taxes AGAIN in canada for the same income from that rent), than i still own money at each tax returns + still need to pay installments over the year. I Live basicaly to pay taxes in Canada. It's a lot and i frankly don't cleary understand it. That's why i am watching this video to try to understand better. Cost of Living eats up half of my income, taxes eats up a Good bite of the rest. ;(

THE BEST VIDEO EXPLAINING TAXES!!!!

Thanks I have a little more understanding about all these taxes and a little less anxiety and butt pain.

Thank you, Thank you, Thank you!
This is such important information that i need.
Thank you so much for making this series and putting this information out here.

Please, speak slowly. Too much information to get it at once . Thank you!

Its just wowww !!

SO you're telling me I gotta make yearly payments or wait until it builds up when I'm ready..

Hi, I have a question. I have a TFSA which I used to invest in US stocks. If I sell those stocks and withdraw money, do I have to pay tax to both Canada and US? If I do, how do I pay tax to US?

This is my first time paying taxes in Canada. Incredibly helpful video. Thank you so much for taking time to make this!

thank you so much for this video!

The most comprehensive and greatest video on Taxes presented on layman's language.😀