Financial
Canadian personal finance
A long read
Who takes the tax (the CRA)
Canada has a tax agency. It is called the CRA.
CRA
Canada Revenue Agency. It collects taxes and runs special savings accounts.
Each year, people in Canada file a tax return. A tax return reports the money you earned. You owe tax on the money you earn. The CRA collects that tax.
Sources
- Canada Revenue Agency (canada.ca) — income tax, TFSA, RRSP, FHSA
- CDIC — deposit insurance
- CMHC — mortgage loan insurance
- Equifax / TransUnion Canada — credit scores
- canada.ca — CPP and OAS. NOTE: all figures 2026 — re-verify yearly.