Managing Your Personal Taxes 2015-16
A Canadian Perspective
Can you simplify a complex tax situation?
Whether we like it or not, taxes affect us all. And they can be pretty complicated — personal taxes perhaps the most of all.
At EY, we’re committed to doing our part in building a better working world. And we start with the world that matters most to you — your world. So we want to help make things a little easier for you when it comes to your personal taxes.
To build a better world, you need to ask better questions. How can I sort through the myriad tax credits to find the ones that are right for my situation? Would income splitting be the right path for me? What do I need to know before buying a house or making any other major investment? Is an RRSP or a TFSA the better plan for retirement?
Better questions lead to better answers — and the next thing you know, your world is working better.
In the following pages, you’ll find tips, strategies and suggestions that we hope will inspire you to ask those questions and help you understand your tax situation, plan for the future, benefit from government incentives and — perhaps most important — save you time, money and, hopefully, stress. New this year is our feature chapter on preparing a private business for sale.
For more tax-planning ideas and savings, visit us at ey.com/ca/tax, or contact us at the EY office nearest you, listed at the back of this book.
Unless otherwise noted, all currency figures are in CDN$.