Taxation is an inescapable reality of life. Every Canadian citizen needs to accept this reality and live with it. After all, there is nothing that a person can do about something as real as taxation. It is a reality that will live with a person from the moment of birth to the hour of death. Even after death, the descendants of a person will still pay taxation on the wealth that a person has left behind. Some Canadians consider taxation to be a harsh reality. With the best Canadian tax advice, one will notice that taxation is a beautiful thing.
Canada does not levy taxation for the sake of it. If not for the expensive cost of democracy, all Canadians could have been exempt from taxation. As a matter of fact, democracy is the most expensive governance system. However, it is worth the cost because the alternative for democracy is autocracy. It is better to pay taxation and enjoy the high quality of life of Canada.
Taxation is just the little price that one has to pay for the immense benefits of a democratic system of government. Definitely, government officials and civil servants have to be paid so that they can make democracy to work. Canada’s democratic government feels for the financial needs of its citizens. That is the reason why it has created many taxation saving opportunities.
The amount of money saved as a result of paying less taxation can be used to finance other important personal expenditures. Alternatively, such monies can be saved for future purposes. For businesses, the monies saved will provide much needed cash flow. They can also be used for the sake of business expansion. A business can save millions through taxation optimization.
There are a number of taxation saving strategies. A financial advisor will advise a person or a business on the different strategies and their implication on personal income or the nature of business. Taxation avoidance is a popular strategy. Some people think that it is illegal to avoid taxation. That is not the case. Actually, it is perfectly legal.
As a savvy taxpayer, some lessons will come in handy. One needs to understand the difference between taxation avoidance and evasion. The two do not have the same meaning. If one has doubts, he should check the English dictionary. The word evade and the word avoid are found in different parts of the dictionary and they have totally unrelated meanings.
The big question is not how to avoid taxation because as explained early it can be done in more than a dozen ways. Rather, the big question is how to best avoid taxation so that to be able to maximize the savings and minimize the expenses. This is a question that will best be answered by a top taxation advisor in any Canadian city.
There a number of taxation related activities that all Canadian resident businesses and individuals have to do during the course of the taxation year. It should be remembered that people as well as enterprises usually pay taxation to the country of residence. That is done so that to be able to avoid double taxation. One should file his returns on time.
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