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The After-Tax Effect

Learning Objectives

After studying this section, students should be able to:

  • Recognize that taxes are commonly an individual’s largest expense
  • Be familiar with the importance of understanding tax in becoming financially independent
  • List beneficial reasons to file your individual tax return
  • Understand how income is taxed in Canada
  • Calculate the effective tax rate and marginal tax rate for an individual
  • Appreciate digital services accepted by Canada Revenue Agency
  • Understand various parts of the T1 Income Tax and Benefit Return

 

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Financial Freedom for Trades Workers Copyright © 2024 by Anne Lee is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License, except where otherwise noted.

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