How Tax Works for Immigrants in Canada - Income Tax, Sales Tax, Taxable income

#immigration #taxreturn #incometax

Filing taxes in Canada before tax deadline April 30 to get income tax refund. Learn about income tax brackets, income tax, sales tax and how to file a tax return. I will also talk about how to use deductions to reduce your income tax and how you can claim your work from home expenses.

This video is made specifically for newcomers or for those who are filing their first tax return or recently got their first job

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Timestamps:
0:00 Intro
0:40 3 main ideas
1:28 CRA
1:46 Sales Tax
3:32 Income Types
8:30 Know the process
10:26 Federal Tax Brackets
11:31 Provincial Tax Brackets
12:49 Steps to Filing taxes
15:44 Getting Your Refund
16:28 Balance Due
17:13 Reduce Your Tax
19:33 Outro

===Useful links====
Get ready to file your taxes
https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax/get-ready-taxes.html

Types of income
https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-2/4.html

FILING YOUR RETURN:
https://www.wealthsimple.com/en-ca/product/tax/

Income tax calculator:
We recommend: https://ca.talent.com/tax-calculator
EY - another great calculator: https://www.ey.com/en_ca/tax/tax-calculators

Federal and Provincial tax rates
https://www.canada.ca/en/revenue-agency/services/tax/individuals/frequently-asked-questions-individuals/canadian-income-tax-rates-individuals-current-previous-years.html

COVID relief tax deduction
https://www.canada.ca/en/services/taxes/income-tax/personal-income-tax/covid19-taxes.html

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===== Watch Next====
Travel rules during COVID - https://youtu.be/Ie8Ivhxy7vs
New habits you get after moving to Canada - https://youtu.be/4B7e7rW2P9g​
Building Credit Score in Canada - https://youtu.be/PSOW8eta84k​

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This channel is curated by Anna and Anastasia, expats from Russia living in Toronto, Canada. We started this channel to share our experience of adapting to a life in a new country after immigration. We talk about personal growth, career and life with a mission to inspire and motivate more people make that change.

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