Canada Revenue Agency: How to Reduce Your Tax Bill by $2,420 in 2021

Author: External Author | | Categories: Accounting , Bookkeeping , Business Advisory , Chartered Professional Accountant , Corporate Tax Preparation , GST Returns

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As one of the most volatile years in memory comes to a close, millions of Canadians are looking forward to a much calmer 2021. While the Canada Revenue Agency (CRA) has provided residents with several benefits to help them overcome a difficult 2020, it will also expect Canadians to pay their tax dues next year.

However, the CRA also allows you to take advantage of several tax deductions that will lower your tax liability. Here we look at two tax breaks that are authorized by the Canada Revenue Agency.

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Original Article Source Credits:   The Motley Fool , https://www.fool.ca/

Article Written By:  Aditya Raghunath 

Original Article Posted on:   December 3, 2020

Link to Original Article:  https://www.fool.ca/2020/12/03/canada-revenue-agency-how-to-reduce-your-tax-bill-by-2420-in-2021/



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