Canadians plan to keep more of their money in 2010
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Canadians are taking steps to improve their finances and keep more of their money according to a recent poll by Angus Reid Public Opinion for H&R Block Canada. Eighty-six per cent of Canadians have taken at least one step to improve their financial situation in the last six months.
From shopping less for non-essential items to waiting for sales to eating out less to cutting household expenses, Canadians have changed their spending habits in the last six months and appear to be looking for other ways to keep more of their money.
But when it comes to claiming tax credits and breaks, Canadians are still missing out. Only 35 per cent of taxpayers plan to make an RRSP contribution and 26 per cent have opened a Tax Free Savings Account. A mere five per cent of 18 to 34 year-olds said they are claiming the First Time Homebuyers Credit.
Twenty-two per cent of Canadians said they planned to ask a tax professional to make sure they were claiming all their tax credits and deductions. Three in 10 taxpayers said they trust the tax software they are using to point out the credits and deductions to claim.
What are you doing to improve your finances this year? Email comments@ilstv.com or call our toll-free comment line at 1-877-703-2713 to let us know.
