Understanding Tax Shelters

Tax planning is a vital part of every financial plan. Arranging your financial affairs to minimize the amount of tax you pay is the definition of Tax Planning and it is everyone’s responsibility.

The Income Tax Act (ITA) defines a Tax Shelter as “any investment where the tax credit received is equal to or exceeds the out-of-pocket expense within a 4 year period.”

To learn more about Tax Shelters, the CRA and your rights click here (link to www.canadataxshelters.org)

At a Glace:

Tax Shelters Maximize Cash Flow

Tax Shelters are an Effective Deferral Tool

Tax Shelters are encouraged in the ITA

 

 

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