Which of the following types of income is subject to both federal and provincial taxes in Canada?

What is the purpose of an RRSP contribution?

What happens if a taxpayer overpays their taxes through payroll deductions?

The marginal federal tax rate is the tax rate applied to your last dollar of income.

Contributions to a TFSA are made with pre-tax dollars and grow tax-deferred.

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Arrange these tax deductions from most to least likely to reduce taxable income: RRSP contributions, Childcare expenses, Charitable donations.

Rank these types of income from highest to lowest tax rates: Capital gains, Employment income, Dividend income.

How can strategic tax planning benefit an individual or business?