Tag Archives: tax

A common retirement planning mistake

Retirement accounts are generally lauded for being tax friendly. But what if you’re a high income earner? 🤔 Can contributing to a tax advantaged retirement account hurt you instead of help you? Yes. I’ll demonstrate how in today’s post. A lot of readers here make over $100,000 a year. So let’s approach retirement planning from a taxation and… Read More »

Don’t feel guilty about taking government benefits

One of the great advantages of living in Canada is the generous government benefits system. Had a baby? Take some tax-free child benefits. Lost your job? Apply for employment insurance benefits (EI.) Making low income? There are multiple assistance program for you. 🙂 But one dilemma facing the financial independence/early retire community is whether or not we should… Read More »

Tax Freedom Day is Almost Here

By | 06/01/2018

Next week is Tax Freedom Day! This is the first day of the year in which Canada has earned enough income to pay its taxes. Every payment to the government of all levels that is officially considered a tax is counted. The purpose of having a tax free day is to provide tax paying citizens with a metric with which… Read More »