Chapter 24: Canadian Taxation

In this section

• 24.1 The Canadian Taxation System
  • 24.1.1 Overview of Taxation in Canada
    An in-depth examination of Canada's taxation structure, including federal and provincial taxes, various types of taxation, and the economic principles underlying the Canadian tax system.
  • 24.1.2 Taxation Principles
    An exploration of the fundamental taxation principles within the Canadian tax system, emphasizing equity, efficiency, and the progressive tax structure.
• 24.2 Capital Gains and Losses
  • 24.2.1 Understanding Capital Gains
    An exploration of capital gains, their calculation, and taxation in Canada.
  • 24.2.2 Capital Losses
    Understanding how capital losses can offset capital gains and the carryover provisions for capital losses in Canadian taxation.
• 24.3 Tax Deferral and Tax-Free Plans
  • 24.3.1 Registered Retirement Savings Plan (RRSP)
    Exploration of RRSP contribution rules and the tax deferral benefits aimed at retirement savings in Canada.
  • 24.3.2 Tax-Free Savings Account (TFSA)
    Comprehensive guide on Tax-Free Savings Accounts (TFSA) covering contributions, withdrawals, and tax-free investment income growth.
  • 24.3.3 Registered Education Savings Plan (RESP)
    Exploring the benefits, structure, and opportunities of Registered Education Savings Plans in Canada.
• 24.4 Tax Planning Strategies
  • 24.4.1 Income Splitting
    Explore comprehensive tax planning strategies with a focus on income splitting as a method to minimize overall tax liability among family members and specially tailored techniques for pension income splitting applicable to elderly couples.
  • 24.4.2 Use of Tax Shelters
    Understanding the use of tax shelters and their impact on taxation and investment strategies including the associated risks.
  • 24.4.3 Charitable Donations
    Understanding the benefits and strategies of incorporating charitable donations into tax planning for maximizing tax credits and optimizing financial benefits.
  • 24.4.4 Estate Planning
    Exploring strategies to minimize estate taxes and facilitate tax-effective transfers.