Some taxpayers mistakenly use the terms tax credit and tax deduction the same way. While they both result in a lower tax bill, they do it differently. A tax credit is a dollar-for-dollar reduction of your income tax liability. A tax deduction decreases your taxable income by an amount equ...
Learn how federal tax law changes could impact your tax return in 2010 and beyond. Here is a summary of all federal tax law changes between 2010 - 2017.
the government is also seeking to raise revenues by introducing a temporary corporate level tax on non-resident corporations providing digital services in Canada. No details were provided in the FES other than a proposed implementation date of January 1, 2022. An obvious impediment the ...