Managing Your Personal Taxes 2016-17

A Canadian Perspective

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Is your biggest tax issue the one you haven’t thought of?

30 September 2016

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 eldercare.

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$.


This publication contains information in summary form, current as of 30 September 2016, and is intended for general guidance only. It should not be regarded as comprehensive or a substitute for professional advice. Before taking any particular course of action, contact EY or another professional advisor to discuss these matters in the context of your particular circumstances. We accept no responsibility for any loss or damage occasioned by your reliance on information contained in this publication.