Financial Orientation

Disability Tax Credit Certificate vs CPP Disability Benefit

Disability Tax Credit Certificate Individuals who have an impairment in physical or mental functions that is severe and prolonged use Canada Revenue Agency (CRA) form T2201 to apply for the Disability Amount. The Disability Amount is a non-refundable credit on your annual income tax return that can save up to $1726 (if you are Ontario …

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Why do you have to pay Income Tax?

Taxes are the primary source of revenue for the Federal, Provincial, and Municipal governments in Canada. Various levels of government in Canada provide education and healthcare, infrastructure such as roads and bridges, law enforcement, defense, municipal water and garbage collection, snow removal, and affordable housing. These programs may appear to be “free” but they are …

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