Only 33% of Canadians are 'very confident' in maximizing tax breaks: survey
BNN Bloomberg
Ahead of the deadline to file your taxes, most Canadians don’t think they are leveraging all of the tax breaks available to them.
In a press release Thursday, IG Wealth Management released findings from its annual tax study, finding that only 33 per cent of respondents were “very confident” they are taking advantage of all possible tax breaks.
“Prioritizing tax planning outside of tax season alone can help lessen your tax bill, maximize available tax credits and deductions, and ultimately, allow you to build and keep more of your wealth,” Damon Murchison, the president and CEO at IG Wealth Management, said in a press release Thursday.
Additionally, 57 per cent of respondents indicated they see the importance of tax planning throughout the entire year. However, only 27 per cent of Canadians said they make tax planning a priority throughout the year, the study said, potentially resulting in some leaving money on the table.
