The Federal Tax Credits Blog

Question: Would I receive a tax refund or owe additional taxes?

Adjusted gross income- 43,190
Child care tax credit- 80
Amount for personal exemptions- 7950
Itemized Deductions- 11420
Federal Income Tax withheld- 6784
Based on tax rate on taxable income of 15% [$15,100-$61,300]

Answer: Judy, it’s a homework question.

You and I would just do a mock tax return.

Canadian Government Highlights Tax Reliefs For 2011 ,

A reduction from 18% to 16.5% of the federal general corporate income tax rate. “This tax reduction will encourage new business investment, which is an important driver of Canadians’ prosperity.

How to File Your Taxes Online : Online Tax Deduction & Credit Tips

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