Need tax-time tips? Ask this 8-year-old

Carlie Weinreb is only eight years old, but she’s already offering adults lessons in how to fill out their dreaded tax returns.

See Full Article

Weinreb told CTV News Channel that she started learning about taxes when she was five years old, with help from her Chartered Accountant father.

At a recent tax seminar at the University of Toronto Scarborough, Weireb used a whiteboard to show a group of adults how to calculate what they owe.

She broke it down into federal taxes, provincial taxes and the Ontario Health Premium, a surcharge of up to $900 paid by anyone in the province making more than $20,000 per year.

A seemingly confused audience member said he thought that health care costs were completely covered by provincial taxes.

“That’s a myth,” Weinreb replied.

Weinreb said her biggest tip for 2016 is that that those making up to $45,000, “aren’t different,” whereas those making between $45,000 and $90,000, “are happy” and those making more than $200,000 might be “sad.”

That’s because the Liberals cut taxes on the middle portion of income (from 22 per cent to 20.5 per cent) while raising the top tax rate from 29 per cent to 33 per cent.

Carlie’s next workshop scheduled for March 16 at Western University in London, Ont.

She said that if she gets paid, she intends to donate her earnings to a children’s charity. (That’s deductible, after all.)

Although she hasn’t yet decided what she wants to be when she grows up, Weinreb told CTV News Channel she hopes it will have something to do with math.



Advertisements

Latest Economic News

  • Asian stocks flat as support grows for U.S. interest rate hike

    Economic CTV News
    SEOUL, Korea, Republic Of - Asian stock markets were largely flat on Thursday with investors in the U.S. markets going on a Thanksgiving holiday and the Fed minutes largely in line with investor expectations that the Fed will soon raise interest rates for a third time next month. Source
  • First LNG shipment leaves B.C. for China as industry looks to expand exports

    Economic CTV News
    SURREY, B.C. -- FortisBC says it has shipped 950 gigajoules of liquefied natural gas from Vancouver to China, marking the industry's first shipment to the Asian country. The move is part of a pilot project aimed to determine long-term feasibility of B.C. Source
  • U.S. commission alerted to review allegations against TripAdvisor

    Economic CTV News
    BOSTON -- The U.S. Federal Trade Commission could take action against TripAdvisor after the Massachusetts-based travel company was accused of deleting hotel reviews that contained allegations of rape and other crimes. Several people told the Milwaukee Journal Sentinel this month they were sexually assaulted at Mexican hotels and resorts but the online reviews that mentioned the crimes were taken down. Source
  • Trump SoHo to shed 'Trump' amid reports of sagging business

    Economic CTV News
    NEW YORK -- The Trump SoHo hotel is dropping the name it shares with the U.S. president. The Trump Organization said Wednesday that it is ending its licensing deal with the New York hotel amid reports that the property has struggled to attract business. Source
  • Wellsite pipeline leak spills 560 barrels of oil into northern Alberta swamp

    Economic CTV News
    CALGARY - The Alberta Energy Regulator says a pipeline owned by Calgary-based Mount Bastion Oil & Gas Corp. has leaked about 560 barrels of an oil and water mixture at a northern Alberta wellsite. AER spokesman Jordan Fitzgerald says the regulator has staff supervising cleanup by the company at the site about 65 kilometres northwest of Red Earth Creek, which is about 420 kilometres north of Edmonton. Source
  • Wellsite pipeline leak spills 560 barrels of oil emulsion into Alberta swamp

    Economic CTV News
    CALGARY - The Alberta Energy Regulator says a pipeline owned by Calgary-based Mount Bastion Oil & Gas Corp. has leaked about 560 barrels of an oil and water mixture at a northern Alberta wellsite. AER spokesman Jordan Fitzgerald says the regulator has staff supervising cleanup by the company at the site about 65 kilometres northwest of Red Earth Creek, which is about 420 kilometres north of Edmonton. Source
  • Uber customers torn between scandals and service

    Economic CTV News
    DETROIT -- Uber has managed to hold the title of world's largest ride-hailing service despite its seemingly endless string of scandals. Its latest misbehaviour involving a data breach coverup revealed this week could be the impetus for people to ride elsewhere -- or keep looking the other way. Source
  • Freedom Mobile announces iPhone X dates, provides update on network rollout

    Economic CBC News
    Freedom Mobile will begin taking orders for the Apple iPhone X and iPhone 8 models starting Friday, with the smartphones in its stores on Dec. 8. While that's more than a month after Canada's three national wireless carriers began selling the iPhone X, it will be the first time Freedom Mobile has a full roster of Apple smartphones to offer its customers. Source
  • Highlights of sweeping new Ontario labour laws, including a minimum wage boost

    Economic CTV News
    TORONTO -- Ontario's Liberal government passed a host of changes to labour laws Wednesday. Here are some highlights of the legislation, including the centrepiece minimum wage increase: -- Minimum wage rises from $11.60 an hour to $14 on Jan. Source
  • Canadian grocers expand online services after Amazon acquires Whole Foods chain

    Economic CTV News
    VANCOUVER -- Metro Inc. is looking to expand its online grocery offerings to Ontario next year, making it the latest Canadian retailer to ramp up its e-commerce options in the face of potential competition from Amazon. Source