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income tax cra

When it comes to filing your taxes, whether you take on the task yourself or enlist a professional, navigating the countless Canadian tax credits and deductions that the CRA outlines is no easy feat.

Luckily, tax season doesn't need to be completely overwhelming. In addition to contributing to your RRSPs or TFSAs, there are many other expenses that you can deduct from your taxes this year along with credits that could even score you some pretty sweet cash in return.

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Let's be real: while we all know it helps society run (somewhat) smoothly, few people really like paying their taxes. Filing your taxes in Canada — whether you do it yourself or enlist a professional — can be complicated and it can sting to watch some of your hard-earned cash fly out of your bank account.

The good news is that, beyond putting money into RRSPs or TFSAs, there are expenses you can deduct from your taxes this year — and even credits that will get you some cash! Here are six of the most common tax deductions and credits.

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It's that time of year again in Canada...tax season! The Canada Revenu Agency (CRA) wants you to beware of tax schemes that promise to reduce your taxes and are sharing tips and warning signs on how to spot them.

According to the CRA, tax schemes are "plans and arrangements that attempt to deceive taxpayers by promising to reduce the taxes they owe, either through large deductions, or through promising tax free income."

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