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The Income tax in Canada is composed of federal tax and the provincial tax. If you live in Ontario, your Income tax is the total of your federal tax and Ontario tax. These two taxes have different rates and brackets. Therefore, they need to be calculated separately and then added together to get the Income tax. This article will show you what these rates and brackets are for both taxes with a couple of example calculations.

Here are the milestones of the short journey of the Harmonized Sales Tax (HST) in the province of British Columbia (BC):

Even if you owe no incom tax, you could get money back by claiming a number of tax credits and benefits in Ontario. Here are some of these credits for 2010.

In Canada, when two individuals with different income levels both make one additional dollar, the income tax they pay on this extra dollar earned is different? That is because the Canadian tax system features a built-in fairness system in the form of progressive tax rates.

Canadian taxation is based on the concept of residence. A person who is a resident in Canada will be taxed on his or her worldwide income from all sources. However, a non-resident person only pays Canadian income tax on income from sources inside Canada.

There is substantial difference between a tax deduction and a tax credit, but it is easy to get the two confused.

The Universal Child Care Benefit (UCCB), launched in July 2006, pays $100 monthly to families for each child under the age of six to help cover the cost of child care.

The GST/HST rate varies depending on the province. The following shows the applicate rates in different province in Canada.

When capital properties are transfered between taxpayers who are not dealing at arm's length, a consideration may be established at the level higher or lower than the fair market value to allow one or both taxpayers to reduce or avoid taxes. To prevent transfer price manipulations, rules are needed to deal with inadequate considerations.

Cumulative Net Investment Loss (CNIL) was introduced in the 1988 tax reform legislation to prevent individuals from simultaneously deducting investment losses while sheltering investment income through the use of the lifetime capital gain deduction.