Don't Miss Out On Tax Breaks!

Uncertainty about taxes isn't new to anyone. What if you're missing out on a lot of tax breaks just because you don't know about them?

"Meanwhile, a separate survey of taxpayers highlighted that many Canadians don’t fully understand their personal tax situation.

About nine in 10 don’t understand how recent changes to the federal budget impact their personal tax situation, according to the survey carried out for BMO Nesbitt Burns.

Almost 40% aren’t confident they are taking advantage of all of the tax incentives available to them, while three-quarters fail to take tax into account every time they make an investment, it said.

"The results clearly indicate that many Canadians do not fully understand their personal tax situation," said John Waters, manager of tax planning at BMO Nesbitt Burns. "People have the opportunity to pay less tax if they take the time to understand the basics and seek advice when needed.” Edmonton Sun

Canadaonline.about.com has a great resource section where you can find a lot of information on Canadian taxes.