Which of the following is an acceptable method of reducing your tax bill for the current year?
A)Making large payments on your outstanding mortgage
B)Increasing your contributions to your tax free savings account
C)Earning income outside of Canada
D)Deducting employment expenses you weren't reimbursed for

Question

Quizplus · Accepted Answer

Deducting employment expenses that you weren't reimbursed for is an acceptable method of reducing your tax bill for the current year. However, making large payments on your outstanding mortgage, increasing your contributions to your tax-free savings account, and earning income outside of Canada do not directly reduce your tax bill for the current year.

Which of the Following Is an Acceptable Method of Reducing