Do you Know How Canadian Tax Works? | Your Money, Your Choices

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In today’s episode, I’m going to give you some insights into the world of taxes so that you can make the type of personal financial decisions that help you pay just what you need to and not more.

If you have any questions after watching my video, make sure to leave them in the comment section below!

Update: There is a calculation error at 1:19. It should be $44,718 with tax of 9,167.19 (at 20.5%) for total taxes of $15,959.19 and an average tax rate of 17.7% (74,040.81 leftover after taxes).

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Aakash Shah says:

I think u made calculation mistake. In the second slabe , 90000-45282 is not equal to 45192.

Klay Thompson says:

What about provincial tax brackets, and their interplay with federal tax brackets?

Tatyana Ashley says:

Subscribed because GoT and HP were in your background

Deep Khanna says:

Susan Will You Marry Me ?

Akif M says:

Great video but please stop playing the music lol

Rory O says:

I am confused about tax deductions.. Could you make a video on that? Like simplified version on tax deduction —- for example– If I started a home based business and I am at the 26% TAX bracket.— and the morgtage I pay is 1000 a month. THEN would I get 260 dollars back a month?

Gaius Baltar says:

Taxes help Justin Trudeau take trips and bring muslim terrorists into canada where they live better than canadians

bthebest says:

If only my tax currency be used for Canada, by Canadians. Not for foreign 'aid' that Canada donates to other countries.. Canada is great but we should not have poverty or inequality what so ever..

Abhinav Sharma says:

Hey, I just got know about this video. I was wondering if you can explain tax credits and deduction in Canada? If you already have video, just ht like and if not then do the reply. Goo information! Cheers!

Deep Khanna says:

Intelligent Susan please tell. If i earn 16 per hour then 13% tax in Toronto = after tax 13.92 per hour. Have i to pay 15% tax on annual income 45000 separate? i live in India planning to come Canada on Permanent Resdiencey base

Deep Khanna says:

Thank You Natural Beautiful Susan for give intensive knowledge.

szs voc says:

tax in canada should be 19pct not 40

Michele Burton says:

Cleared up a few misconceptions I had for sure! Thank you!!!

AKS says:

Remember: if you are a divorced father, you won't be getting any tax benefits for your children at all……it goes to the resident parent (which is almost always the mother in Canada). Even if the spouses live together, in Canda (check out form RC66), our CRA “usually consider[s] the female parent to be the applicant”. You can't even claim sports fees any more since they phased that out as well.

Jeli Maniago says:

Tim ferries there

Pedro Adriano says:

For the past 2 years it's been nothing here what's happening to our tax money economy is not as great as you think what's going on with our tax money where is it going it ain't staying in Canada I don't see anything done here at least in Winnipeg not much government buildings or anything going on in the city our streets get temporarily repaired because you're not giving enough for the employees to finish the job what the hell is going on with our f**** tax money us working people that pay taxes should be allowed to fire whoever screws up in the government

General MaCcorpy says:

sexy and smart

Cameron Di Franco says:

Is there a maximum amount of income you can make before having tax taken off? For example if I make 12,000 in a year putting me at 15% would I get the income tax back because my income was so low? Probably a stupid question but I'm really not familiar with this stuff.

ramiyan22 says:


Victor Lin says:

So you have to pay federal (15%) and Provincial (5%) tax in Ontario? Never knew that…grand total of (20%)?

Anand Lila says:

thanks for information. But still i don't know the tax system that you explained is weather for residents or non-residents.

Freedom Hustler says:

How about taxes on income earned from YouTube or Affiliate Marketing?

Nello Acosta says:

Im in love😍

288theabe says:

3:20 while I can see your logic, sometimes, it’s better this way. I had a buddy who screwed up how much taxes his employer should take off and ended up owing the government over $1000 he didn’t have. Personally, I would much rather the government take too much and then sort it out come tax season. Much less of a headache to find extra funds and definitely not worth the few dimes and nickels through interest.

Still love your videos!

Online Billings says:

Congratulation on earning the CFA credential so young! Good for you.

Umair Arif says:

@Susan, that was really helpful video, I would like to know more about what kind of expenses can an individual claim and tax credit available?

Nathalie Grant says:

Hi, Susan…Thank you for the clear explanation..Do you have suggestions for financial apps in canada that help monitor and fix credit?

Nevin X says:

This was a great video thank you so much

Yahya Nafi says:

can I get a refund on grocery and fuel expenses

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