Other role plays and team work assignments include mock-up interview or sales pitches, tests with 50 questions for 5 minutes, splitting in teams and getting you to nominate a speaker and present something… Or they will do a short presentation and then quiz you on what you remembered. Pretty much everything they wanted to do as children and they never got around to doing!

A good aspect here is that while being interviewed, you can really see the team leads and feel the atmosphere. This will help you get motivated and stay or focus efforts elsewhere.

Some of the folks which are being interviewed are very smart and motivated. Helps if you get some business cards and start thinking on forming your own team. Take the positive out of the often humiliating situations!

Great job on the website and thank you for allowing me to contribute to this site! Glad I can impart some general information on Canadian taxes.

Generally, there is a 3 year rule from the date the original Notice of Assessment (“NOA”) is issued by the CRA. The Notice of Assessment essentially acknowledges that you filed your return and summarizes the amounts reported by you. You have 3 years from the date noted on the NOA to make changes to your tax return and the CRA can do the same. However if you had losses in the current year and you carried it back to be applied to a previous tax return, then that previous return stays open for 6 years. Also, if you carry on business, you must keep records and books of account and at a minimum, you would need to keep the books and records for 6 years.

Unlike the US where you can deduct mortgage interest on your principal residence or tax preparation fees, in Canada, the deductions are more restrictive.

There are two types of deductions: those that reduce your taxable income and those that reduce your tax liability ie. non-refundable tax credits.

Contributions to a Registered Retirement Savings Plan (“RRSP”), which provides tax free savings for your retirement, are generally deductible in reducing your taxable income; however, this is based on your prior year’s earned income (which essentially is your employment income). Another deduction from taxable income would be investment fees ie. investment advisor fees, safety deposit box fees (which holds your investment certificates) and accounting fees to keep records of your investments (some people try to deduct their tax preparation fees, but upon audit by the CRA, you may be denied this deduction).

The common non-refundable tax credit is charitable donations. If you are at the top marginal tax bracket in BC, then every qualifying donation totaling over $200 in a calendar year, you get a tax credit of 43 cents for every dollar given; for the first $200 in donations, the tax credit is at a lower rate ie 20 cents for every dollar given.

The discussion above is not meant to be exhaustive and cannot be relied upon as professional advice.

Also, are mortgage payments considered tax deductible in Canada? What else can be deducted?

Thank you,
This is great information!