Tax payers started to have headache as and when the season of tax-paying comes. These tax payers try their every bit possible so they have to pay as little tax as possible. It is, however, impossible to completely eliminate this burden, but, there are ways through which we can reduce this burden.

1. How to Reduce Tax Burden in Canada
Tax payers started to have headache as and when the season of tax-paying comes. These tax payers try their
every bit possible so they have to pay as little tax as possible. It is, however, impossible to completely
eliminate this burden, but, there are ways through which we can reduce this burden.
The taxes paid by us contribute towards the development of the country and therefore we should make sure
that we pay our taxes in time. It is also important that in our effort to reduce our tax burden we should not
make use of illegal means. Never encourage accountants in Mississauga to resort to illegal means in preparing
accounts.
Make Use of Legitimate Means to Prepare Accounting Books
The legitimate way to reduce the tax burden is by maintaining your books in proper order. When your
accounting books are maintained properly you are aware as to what is the present financial status of our
company and how can we reduce the burden. Consult accountants in Oakville to maintain your books in
proper order.
In case accounting books are not maintained properly you will have little idea on what measures need to be
taken to reduce tax burden. A sure shot means to maintain books in good order is by hiring accountants in
Oakville.
There are accountants in Mississauga who will help you out in maintaining your accounting books in good
order, but they will also tell you ways on how you can reduce your tax burden. There are various deduction
schemes available from government / firms that can help you reduce your tax burden.
Lets us take a look at some of these programs:
The Child Tax Credit (CTC) – you can claim a tax credit for each of your child of $2,000. This non-refundable
tax-credit is given to only those children who are below eighteen years of age.
The Children Fitness Credit – A credit to the tune of five hundred dollars is given when a child who is below 16
year old is registered. This credit is given when a child joins a program at any time of the year.
The Canada Child Tax Benefit (CCTB) – This monthly payment is tax free and it is designed to help familiar in
raising their kids. This benefit is given till a child reaches the age of 18 and the annual benefit that is given is
around twelve hundred dollars.
There are numerous other programs that you can make use of to reduce the tax burden on you. There are
certain rules about which you might not be aware of as a normal person, and it is for this reason you need to
hire the services of accountants in Oakville.
Preparing for tax can be quite cumbersome for any person and for a business person there are numerous other
important things to take care of. When you hand over the task of maintaining accounting books to an
accountant in Mississauga than you will have the peace of mind that you might have been looking for.
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