Once you have identified what your income is, you need to know what percentage you'll pay as income tax. People with a lower income pay a lower tax rate than people with a higher income. This is known as a graduated income tax system.

Federal income tax
Your income falls into one of four income tax brackets (or segments). The tax bracket is based on your taxable income—that is, your total income minus allowable deductions and exemptions, as discussed in the section titled Reducing your taxes.

Each province and territory also charges income tax in addition to the federal income tax. Their rates and tax brackets vary. The chart below shows their tax rates.

Use the course content in your own program and help your students develop an understanding of how the Canadian tax system works. Modules: Purpose of taxes, Starting to work, Lesson plan: Working for an employer, Lesson plan: Working for yourself, Lesson plan: Preparing to do your taxes, Lesson plan: Completing a basic tax return, Lesson plan: After sending us your tax return, Lesson plan: Using My Account, Lesson plan: Accessing your benefits and credits

The following resource from the Sask DLC Financial Literacy 10 course contains: Income Tax Basics document, "Filing Income Tax Assignment", How to Get Started with Wealth Simple Document and rubric and Sask DLC Video: Wealth Simple Demo https://youtu.be/xbwRJHrYW3k?si=MzIwVus2uaPEootp

Indigenous communities have traditionally shown skill and strength in managing resources to support their community on an ongoing basis. People have understood and practiced the concepts of budgeting and saving, managing resources by budgeting so that they last the year, and putting aside savings for future use. In today’s economy, managing money can feel stressful at times. A helpful step is to identify goals for you and your family. This booklet provides a set of  activities to help you do that. The worksheets can help you plan your money goals, track your spending, make a budget, and get ready for tax time. The land is our teacher. It teaches us about saving, sustainability and security. At creation animals, birds and fish were asked what they could teach humans. The animal world said humans can learn from our values, character and behaviour. In this booklet the animals will teach you about managing your money. Simon BrascoupéAnishinabeg/Haudenausanee Bear ClanMember of Kitigan Zibi Anishinabeg First NationVice-President Education and Training, AFOA Canada

This resource contains: Financial Literacy Resource presentation for teachers, and an activity on a paystubb and payroll deductions.

This one page document shows limits and information on many Canadian tax topics including:TFSA, RRSP, Spousal RRSP, personal tax deadlines, pension amounts, US threshold information, RESP details, Registered Disability information, Canada Pension Plan, Old Age Security, Guaranteed Income Supplement, Capital Gains exception details, federal tax credits, federal tax brackets, donation information, government contact numbers and more!

English for Financial Literacy is an instructor’s resource for teaching financial literacy concepts and skills in LINC and adult ESL programs at CLB levels 1 to 8. The main objective of English for Financial Literacy is to help instructors incorporate financial literacy content into their program planning and teaching, and support them in learning about key topics and concepts related to financial matters.Full workbooks and audio files accompany this resource. 

Demystify taxes and boost confidence in youth so they can do taxes on their own with these gamified courses, built by the CRA for grades 6-12 (French and English). This free course is approx. 10 hrs of work, can be done at the student's own pace, and will be available year-round. Students will also receive a certificate of completion.

Students will be able to access five courses designed to help them understand the Canadian tax system and give them the tools they need to confidently do their taxes on their own.

Learn About Your Taxes course titles:
1. Starting to Work
2. Preparing to Do Your Taxes
3. Completing a Basic Tax Return*
4. After Sending the CRA Your Tax Return
5. Purpose of Taxes

Gamified tax literacy courses are now freely available for Canadian students and teachers on the ChatterHigh platform.  Demystify taxes and boost confidence in youth so they can do taxes on their own with these 7 gamified online courses by the Canadian Revenue Agency. Course titles include: Starting to Work, Preparing to Do Your Taxes, Completing a Basic Tax Return, After Sending the CRA Your Tax Return and Purpose of Taxes. Students will earn a certificate of achievement for completing the Completing a Basic Tax Return course. By seeing examples of tax slips and tax returns, as well as walking through the steps of completing a basic tax return, students will tain the tools they need to confidently do their taxes on their own.

Investigate personal income tax.

Teacher Guide included.

5-10 hours

Investigate taxes paid by individuals in Saskatchewan.

Teacher Guide included.

5-8 hours