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There might be some good reasons why you won’t want to file your taxes online. It might be that you dislike trees or want to contribute to the increasing usage of paper. Whatever the reason it might be, you do have to keep in mind that filing online is less tedious and easier compared to the paper-filing. File Taxes Online Canada – Steps You Must Know The following are the steps to file taxes online in Canada – ● Making Sure You Have Online Access Now every Canadian taxpayer planning to file taxes online must be able to access the “My Account” option present in the CRA. This is a secure portal that allows you to view your personal income tax as well as benefit information. Plus, you can easily manage your tax affairs online. ● Select A NETFILE Certified Tax Calculator Canada Software It might be possible that you have an accounting degree, however, the CRA won’t allow you to go to its site and file your tax return using NETFILE system. So, to file taxes online...

For some filing, the income tax return might be a chore that they like to avoid. But it doesn’t need to be like that. It can be a great opportunity to make some savings or get reimbursed for monetary benefits you didn’t know you were entitled to. Deadline The deadline to file taxes online  for 2019 is April 30th, 2020. So, if you are reading the blog just before the due date, it means there is still time for you to know about the benefits you have. In addition, the tax system is constantly updated by the Canadian government and some people wait until the last minute to know what deductions and credits they are liable for. A word of advice – never wait until the tax deadline. Get yourself educated before you file taxes from various file taxes online Canada  sites. The best part is that if you know what you are entitled to early on in the tax year, it will make it easier for you to get the list of the receipts and documents for claiming the expenses. Helpful Ti...

The country of Canada operates on a tax system known as a marginal tax rate system. In simple words this means that more the income earned by the citizens of Canada, the more the tax they are going to pay. Marginal tax is nothing but the tax amount calculated and paid on additional income of the person. The rise in tax rate is directly co-related to the rise in income. Marginal tax is different from a flat tax rate where in a person needs to pay a fixed tax irrespective of his income. Being well informed about the marginal tax rate can go a long way in helping the person in planning his financial goals and make an easy decision on investments. Mere knowledge about the money one makes is not enough, it is to understand as to how much one can keep, is what matters at the end of the day. Marginal tax rate system helps guide people on how much amount from the earned dollar a person can spend towards maintaining his lifestyle. Persons, planning for retirement goals, should always fo...