Using a tax refund calculator is an easy way to calculate a tax refund. Most tax calculators are able to provide a reasonably accurate estimate after the user has answered a few questions. The information entered is then processed according to a formula based on that year's tax laws. It is important, however, not to depend entirely on a tax refund calculator, as it may be somehow wrong.
How are forex earnings taxed in Canada? This is a question that beginners in trading usually ask us. The simple answer is that if you make money through forex trading in Canada, then the Canada Revenue Agency (CRA) considers that a business income. Therefore, they are 100% taxable. Check out this resource https://www.forexcanada.ca/forex-trading-tax-canada/ for more about this. In Canada, people who buy and sell currencies on the financial market are taxed on the money they make from it. If you make more than a certain amount from trading currencies, you have to pay taxes on that money. The best forex brokers should be able to inform you more about this information.