Canada offers a wide range of resources and activities to its residents.

Governments take your

taxes and give them back to you in the form of affordable tuition, health insurance, bridges and
highways, and a variety of other social benefits. These are some of the established advantages that
Canadians enjoy: Credit for goods and services, Old Age Security, and family benefits such as the Canada
Child Benefit are all available.

Any Canadian citizen is expected to file an income tax return once a year. Each household
member with a source of income is responsible for filing his or her own taxes. Individual income tax is a
government-imposed tax on an individual's earnings or profits, while corporation tax is a government-
imposed business expense.

Canada's tax system is unique in many respects. In Canada, the tax system is progressive or
graduated, meaning the more money you make, the more income taxes you pay. You will pay taxes on
your income at both the federal and the provincial level. Provincial tax is a tax that one needs to pay
depending on the province that you live in while federal tax is a common tax that all Canadians have to
pay. For example, in federal tax if you make a $60,000 a year in Ontario, you’ll have to pay the exact
same federal tax as someone who makes a $60,000 a year in Alberta. This is done through tax brackets,
if your income belongs to a particular tax bracket, then you will pay the same tax rate as any income in
that tax bracket. As your income rises, you will also face provincial and federal claw backs but still more
money that you have in your wallet. For individual tax living in Ontario that earns more than 75 dollars,
there is an additional tax that you have to pay besides the federal and provincial tax which is called
provincial surtax. It is a tax that high income earner has to pay. That is why you don’t need to have a
high paying job to be wealthy as you can lose half of you paycheck in taxes, instead be wise on money
and focus on side business and investments.