| So is the greatest personal finance myth out there that | | | | Although the CRA does advertise some tax |
| the Canadian Revenue Agency will help you save | | | | deductions, the most efficient tax avoidance strategies |
| money on your Income Tax...perhaps. | | | | (to legally pay the least tax possible), can only be |
| Although the CRA are very helpful when it comes to | | | | found through solid due diligence research. |
| educating you on the ways to pay tax; evidenced by | | | | My wife and I investigated ways to reduce our tax |
| their recent bout of 'tips', they will not show you the | | | | burden a few years ago and discovered donation tax |
| best ways for you to save money. | | | | shelters. |
| This is for a number of reasons: | | | | Tax shelters are a legal way to make the Income Tax |
| | | | Act work for you. For every one dollar you put into |
| 1. The CRA are collectors not financial educators | | | | the program you should expect to see a return of one |
| 2. The CRA's mandate is to collect as much tax as | | | | dollar or more in tax credit. Although there are many |
| possible from Canadian income tax payers | | | | different types of shelters, my wife and I participated in |
| 3. The CRA will re-assess you and demand more | | | | a donation program which allowed us to save money |
| money for your tax liabilities, if it will make them more | | | | on our taxes and donate life-saving drugs to Africa. |
| money.So, as you can see the CRA is playing a | | | | So, before you accept the income tax advice of the |
| numbers game, so cannot be relied on to have your | | | | CRA on available tax credits and other Income Tax |
| best interests at heart. So you have to rely on the | | | | Deductions, do some research and look into tax |
| person who has always had your best interests at | | | | avoidance programs. Take control of your tax money |
| heart...you...and take control of your tax money. | | | | and create tax benefits. |
| Educate yourself | | | | |