There are plenty of calculations involved in taxes. These include formulas used by governments to calculate tax rates as well as mathematical equasions used to determine the amount a taxpayer owes the government or the amount of one’s refund. (File photo)
QUIZ: The taxman cometh
As Canada’s income tax deadline nears, how much do you know about taxation?
It’s tax time in Canada.
The deadline for filing income tax is April 30, but this year, since the date falls on a Saturday, tax returns must be received or postmarked on or before May 2.
Income tax is not the only form of taxation in Canada. There are also municipal property taxes, sales taxes, excise taxes and more.
In addition, disliked government programs are sometimes described as “a waste of taxpayer dollars.”
To mark the end of income tax season, relax with these 12 questions about taxation.
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Governments at all levels collect significant revenue from taxation. How much do you know about taxes in Canada? (Black Press file photo)
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