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CRA 2020 Tax Filing: How to Reduce Your Income Tax Bill in 3 Easy Steps

Author: External Authour | | Categories: Accounts Payable , Accounts Receivable

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The Canada Revenue Agency (CRA) is promoting April 30 as the last date to file your income tax returns. You now have to pay tax on those $2,000/month stimulus checks you received last year. Is the amount of your tax bill giving you goosebumps? I bring to you three ways to reduce your tax bill.

The CRA offers many tax benefits to help Canadians enjoy their income instead of worrying about income tax. You must pay taxes because the CRA uses this tax money to give several cash benefits, including the generous stimulus checks. But you can reduce your income tax bill by claiming the right benefits.

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

Article Written By:  Puja Tayal 

Original Article Posted on:  March 15, 2021

Link to Original Article:  https://www.fool.ca/2021/03/15/cra-2020-tax-filing-how-to-reduce-your-income-tax-bill-in-3-easy-steps/



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