Tax system in Canada and the best way to save a few tax dollars every year 🤑
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- čas přidán 21. 10. 2020
- We explain the tax system in Canada covering the following:
1. Types of income taxes in Canada - yup, there is more than one
2. How much is it and how it works?
3. Difference between Salary tax and business tax and how you can save tax in Canada - legally!!!
Useful links:
1. EI and maternity: • A step by step guide t...
2. E&Y tax calculator: www.eytaxcalculators.com/en/2...
Disclaimer: These videos are our personal views and opinion, they should NOT be considered as legal advice. We are not affiliated with any government organization or division. We assume no liability for how the information on this channel is used or interpreted and hence take no responsibility for any decisions that is made with regards to your application based on the information shared on this channel.
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Honestly, this is the video, every immigrant is looking for as they always come with a mindset like they will be paying 30-35% flat tax on their income. You guys clarified this simply great. Gob bless you both !!
I must say that’s the BEST yet simple video I’ve seen so far about Canadian tax system. You guys deserve a raise 😃
Haha
No doubt, explaining using boards, charts, diagrams is way better than just giving an oral speech. A much comprehensive with important information video. Thanks guys!
Hi guys! I watch your videos regularly. It's great to see you both. Your way of explaining to all the topics is really awesome. As we ( me & my wife) are planning to go to Canada, your videos really help us to understand the scenario. Thanks again.
Extremely well explained! 👍🏻👍🏻
Thanks 😃
Thank you so much guys for this enlightening video! There’s something about you both that makes you guys so endearing to all of us. God bless you guys! You are the ultimate example of the fact that we proper by sharing knowledge! Much love to Canada’s beloved Desi Potato Talkies!!! Sincerely yours, a 3 week old Canadian PR who made his way to Canada all thanks to you both...
very well explained guys, simple and easy !! no extra talks, hit the shot !
The thing I like and appreciate the most is the Green Chalkboard with the points that Potato Talkies use. Most other youtubers who might cover similar topics, talk about everything orally. After watching the entire video and liking it, I find it easy to go back and take a screenshot of the board to save on my laptop for future reference! :D Kudos @PotatoTalkies
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Very helpful video guys !! Thanks a lot !!
I have really enjoyed the way everything is explained on excel sheets. U need great intellect for explaining calculations with so much of ease. Potatoe couple, your hard work is much appreciated. Lots of respect. As I always say, you both are the sweetest couple. Keep progressing. Thank you ☺.
Thank you 😃💯
You guys are simply amazing. I have not seen anyone till now who have explained such complex things so easily. It's really helpful and love your content.😁😁😁😁😁
Thanks 😃😃
Very well explained!! Thank you so much!! Was waiting for this one and awaiting the next one too😀❤️
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Good to hear that we can actually saveeeeee! Wooohoo! Amazing video! Waiting for Saturday 😍👌👌
Finally found someone who has answers of my all the questions.
Very well explained guys!!
Very well explained.... awesome detailing....cheers
Most awaited video.... Great job brother
Thank you 😀
Very well explained. I'm student and planning to come canada for studies. It motivated me to do business instead of looking for high salary jobs.😁❤️
Extremely informative !
Amazing video, I dont have time to check slabs and all but now everything is clear. Thanks guys u always rock..
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Thanks guys! Very helpful video as always.
Thank you 😃
Good content. Keep up the good work.
superb explanation - esp where you show comparison of numbers so people can understand the concepts !!
Nicely explained
Crisp and clear
Thank you so much!!! you guys are awesome :)
Very informative video, I had browsed multiple websites and had not found anything relevant.
But this cleared up my doubt!!
Hi guys! Very well explained content 👍
You cover the topics which are helpful to most of the immigrants and this is what makes you different than other CZcamsrs!
Keep it up guys.
I would like to see more info on business income as in what all business you can do while doing normal jobs..
Thanks guys..
Paaji maza agaya... Ek no. Video 🤩🙏🏻
Quite a detailed content video....Nicely explained...Really helpful for needed ones...Always loved your videos
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Excellent content and very well explained ( as always).
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Flawless and very much informative video... Thank you very much!!
Very informative thanks
Hi guys, I am following you people since from the beginnings itself. You're videos are encouraged me a lot to do something, So now I'm giving IELTS exam and preparing myself to immigrate to Canada. You are vlogs are so awesome and If I succeeded definitely I will come to meet you guys. Much love ❤️ keep it going.👌
Great content guys! I always gain a bit from your edu videos.
As usual very insightful guys.. Thanks👍
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Awesome as always 👍🏽👍🏽
Such a useful video. Thanks for explaining 👍
Very nicely explained
I commented about make a video on tax system on almost every Canadian youtuber but they didn't did it. Thanks for this awaiting n much useful video. Keep sharing such valuable information.
Excellent video I was wondering how the Canadian tax system works , Thanks again for the wonderful video 😊
Great Video. Thanks for sharing.
Very informative vlog and tax structure so immaculately explained with examples... Great work potato couple👍
Toooo good.!😊
Very well explained.. Loved it.!❣️
These kind of vedios diffrentiate you from other youtubers making vedios relating to canada.!
Keep growing.!!😊😊😊
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Fantastic Breakdown !!!
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Veerji aap ko CA try karna chahiye tha, meticulously explained. True nerd!!
Nice video! Now it makes sense why there are so many youtube channels from Canada 😀
Canada taxation explained in most easiest way possible. Great video Navjot and Simran.
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That was so cool and nice detail.
Was waiting for this video
You are awesome.. Answer most of my questions. Thanks guys
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You guys are lovely!!
Wonderful explanation.
Wow...Amazing Explanation with simpler calculations.....Love Potato Talkies !
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Quality explanation👌❤️
Great video. Keep up the good work.
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Well explained.. thanks for the presentation.
Thanks 😃
You both are awesome I watch your one video more then one time , you both are really a blessing for all of us
Loads of love from Pakistan
Thank you 🤗
Wonderful and Informative Video as always!!
Thanks 😃
That's awesome explanation! 👍. Good to know how Canada works.
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Great thanks for the help
You guys are the bestttttt🙌🙌😀😀
Superb. I will save this to forward it later to my daughter. She is doing her undergrad at the moment
You guys are doing a great job - all for free for the subscribers ! Hats off
Amazing Video sir🙏. Outstanding effort is given by you and mam ..Hats off
very informative and effective.
Nice information. Stay blessed guys! :)
Bahut badhiya Navjot bhai 👏👏👌🤘
Is Topic se related maine abhi tak YT pe proper video nahi dekhi.
You both did a Great Job🤘🤘❤❤
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You guys are awesome. So much information on the Channel. Will move to permeant to contract soon. Lol
Great work 👏 👍
U guys are awesome. God bless you
Awesome video. Thanks **
Extra ordinary, once again !
Good content! One clarification that you probably need to give is that CPP and EI deductions are both annually capped at $2,898.00 and $856.36 for salaried people and not always x% of your paycheck. This needs to be updated in your monthly budget calculator as well. I understand it's bit complex to explain and that's why probably you are choosing to just mention % there.
Brother and sister you both are amazing
Just Waow.. u made it so simple.. Thanks
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awesome clarification sir ji and Mam ji
NICE VIDEO very useful
This is very informative video.
Very good content 👍
Very well explained.. we are really inspired by you and your vlogs.. trying to set up our own channel.. :)
Wishing you the best 👏😃
Bang on, great video again, Very Informative. (y)
Fantastic video.. as usual. Can you please make a video on what business one can do , as you have done youtube..
That's very informative guys. Will wait for the next video. Also can you please consider making a video on how to register for a Contractor ? Once i get stable in my day job i want to start a consulting / contract work in IT field.
I have watched so many videos from this channel that when Simran says 'hey guys, welcome back to our channel.'- It kinda feels like she is a distant cousine of mine and I know her for a long long time. 😅
Thank you 🤗🤗🤗
Thank you so much guys for such an amazing Video 😊😊 Could you please make another video on how to file a tax return in Canada!!😃
Very good.
Hi, firstly a huge fan of your channel. I wanted to know what is the software you use "The chalkboard One". Also, you were going to make a video on "how to get parents in Canada". I think this would be the most awaited video of all times as everyone is talking about how to go to Canada but no one has information about how to bring your parents and the way you explain everything in details you are best of the best to create a video for that. Thanks for all the information you share
Excellent video! The way you explained total money through your regular employment and new business, can you please explain the tax system with two different employers ? Thank you so much!
First time CZcams mei apne firm ka kuch kaam aate dekha 😀 🔥🔥🔥
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Nicely explained. Can you also share some details on contract but incorporated. I hear a lot of software engineers here do that, would be great to learn more about it, thanks .great job!
Sure.. will make one
Awesome 👍
Very well explained .What about one time investments like camera/ drone , will you be able to claim it every year in business tax or would you need to upgrade devices to stay eligible to claim in tax ?
Marvellous!!! 👌🏼👌🏼👌🏼
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Please make a video on contract job vs full time. Pros and cons.
Guys please make a video on how lawyers can come to Canada and major things like how a lawyer can show his income and especially the ones who are independent advocates. Looking forward to it.
Video badhiya lagi :)
Please make more videos on financial education. Ps: great video 🔥🔥
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This was a great insight into the direct tax structure in Canada. However, when you talk about the tax structure of a country you also need to include Indirect Tax component. In Canada for most services and goods, the GST consideration is 13.5% which is in addition to the direct tax you pay on your salary. So net net you pay Fed Tax + Provincial Tax + GST.
The part which you have shown in Business Income section of the video is exactly similar in India as well. In India it's know as writing off on income statement wherein your expenses won't be taxed. And this is what most MSME businessman do in India inorder to skip the tax or save as much as possible.
Very well explanation !! One thing I figured out work in Canada and retired in India the pension plans and other retirement income will be huge when it will be converted into INR. just imagine! you have around 1.5 lakh rs to spend in a month... Ah-ha...