Purpose of Taxes
Name 2 services that your taxes pay for
Education, Health care, roads, police, libraries, parks, community centers, garbage collection, national defense, etc.
The form you need from your employer to file taxes.
T4
Who collects property tax?
City or Muncipality
When are taxes due every year?
April 30 unless it lands on a weekend. Then it gets pushed back to the next business day.
How often do you get the GST/HST credit ?
Every 3 months. It helps individuals with modest incomes offset the GST/HST they pay
An expression we use for NEt PAY
Take home pay
What does CRA stand for?
Canada Revneu Agency
What does GST and HST stand for?
goods and services tax
harmonized sales tax
What is CTB? .
Child Tax Credit
The slip that tells you your pay and deductions.
Pay stib, pay slip, pay statement
Which tax makes up the greatest revenue for Canada?
personal income tax
A nine digit number that the government uses to identify you
SIN
What is the difference between Old Age Security and Canada Pension Plan?
OAS is universal and given to all adults over 65 years old. CPP is given to people that worked and contributed to their pension plan.
Hours x Rate of Pay
Gross Pay
Tax refund and Tax return are the same
True
False
False
When you purposely avoid paying taxes.
Tax evasion