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Also, a lot you reduce your taxable income the less exposure you are going to the higher tax rates in find income supports. As you read earlier, Canada’s tax system is progressive signifies the more you earn, the higher the tax rate. Lowering your taxable income lowers amount of tax payable. I then asked her to bring all the documents, past and present, regarding her finances sent by banks, and all night. After another check which lasted for almost half an hour I reported that she was currently receiving a pension from her late husband’s employer which the taxman already knew about but she had failed to report that income in her own tax version.

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