Maximise your tax benefits in Canada
As tax season approaches with an April 30 filing deadline, this article offers valuable tax tips for Canadians who got married, entered a common-law partnership, or had a child. Key advice includes maximizing deductions through shared tax credits, optimizing returns with partner’s unused credits, and reaping benefits like the Registered Education Savings Plan. Particularly, it highlights the importance of updating your relationship status with the Canada Revenue Agency and the various tax breaks available for parents, such as adoption credits, regional RESP grants, and the Canada Child Benefit.
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