Pulling in the big bucks in 2022? Here are 4 tax shelters
BNN Bloomberg
Making more money is a good thing; especially for the Canada Revenue Agency, which takes a bigger cut as our income rises. But as Dale Jackson writes, there are ways to keep more of those hard-earned dollars away from the taxman and in your own pocket.
Making more money is a good thing; especially for the Canada Revenue Agency (CRA), which takes a bigger cut as our income rises. There are ways, however, to keep more of those hard-earned dollars away from the taxman and in your own pocket.
We don’t usually think about income tax until the year is over and we’re staring down the barrel of a filing deadline. But with 2022 well past the halfway point, the fiscal year’s tax picture should be coming into view and early steps can be taken to find shelters to lower our tax bills and plan for the future.
In most cases, employers deduct an estimated amount of income tax directly from our paycheques. For others, especially those with more than one source of income, the tax bill could come as a shock. Either way, it’s your money — for now.
