Taxes Definition: Types, Who Pays, and Why

Essential Questions

  • What are examples of different kinds of taxes?
  • Why do we have to pay taxes and what is the tax money used for? 
  • What are tax forms and how do I fill them out? 
  • How do I read my paycheck to determine how much tax I am paying? 

Learning Objectives

  • Define and describe various types of taxes.
  • Understand the purpose and impact of taxes on individuals and society.
  • Understand the importance of filing taxes accurately and on time.
  • Describe how to find out how much tax is being paid from a paycheck.

Please review all of the resources before completing your assignments.

Resources

Read Purpose of Each Tax (complete lessons: A, C, and D)

https://www.canada.ca/en/revenue-agency/services/tax/individuals/educational-programs/purpose-taxes.html 

Watch Income Tax Brackets and Legal Methods to Reduce Your Taxes 

https://www.youtube.com/watch?v=GShKBkv2xY8&pp=ygUWdGF4ZXMgZXhwbGFpbmVkIGNhbmFkYQ%3D%3D  

Read Filing Your First Tax Return in Canada

https://startright.scotiabank.com/file-your-first-tax-return.html 

Read Completing a Basic Tax Return (complete lessons: A-G)

https://www.canada.ca/en/revenue-agency/services/tax/individuals/educational-programs/completing-basic-return.html

Watch Reading a Paycheck

https://www.youtube.com/watch?v=uFg3tDxmqiE&pp=ygUWdGF4ZXMgZXhwbGFpbmVkIGNhbmFkYQ%3D%3D

(Optional) Calculate Breakdown of Taxes and Other Paycheck Deductions

https://ca.talent.com/tax-calculator?salary=80000&from=year&region=British+Columbia

(Optional) Read Government Resources for Filing Taxes

https://www.canada.ca/en/revenue-agency/services/tax/individuals/educational-programs.html 

Assignments

  • After completing the lessons on Completing a Basic Tax return (link below) complete the quiz at the bottom of the page. Please email us a screenshot of your results after pressing “Finish and Close Quiz”. This is for completion marks, not a grade. https://www.canada.ca/en/revenue-agency/services/tax/individuals/educational-programs/completing-basic-return.html#lsn-a-modal
  • Write a 200-300 word blog post sharing your takeaways from the Canadian Government website “Purposes of Each Tax”. Was there anything you disagreed with or have further questions about? Please share two interesting or unexpected things that you learnt through completion of the activities on the Canadian Government website. Respond thoughtfully to two discussion posts from your peers. Post your responses as a comment on their blog post. Click here to see the list of class blogs.
  • Write a 300-400 word blog post explaining what information you need to fill in a tax form and why it is important to fill in a tax form accurately.