TAX HISTORY
What year was the Tax War Act created in Canada?
1917
One of the main roles of the CRA involves collecting these from individuals and businesses.
Taxes
In 2006, this savings account was introduced, allowing Canadians to earn tax-free investment income.
TFSA (Tax-Free Savings Account)
This was the original purpose of introducing income tax in Canada?
To finance WWI efforts
The CRA plays a critical role in administering this benefit, which supports eligible families with children under 18.
Canada Child Benefit (CCB)
Name the pandemic that struck Canada in the final year of World War I, adding to the nation's challenges.
The Spanish Flu
The CRA ensures compliance with tax laws through these, which may involve examining financial records of taxpayers.
Audits
Before the Income War Tax Act, this was a primary funding method for the Canadian government?
Tariffs and duties on goods