Meet the 8-year-old giving tax-filing tips to adults

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

  • BlackBerry boost helps push Toronto stock index moderately higher

    Economic CTV News
    TORONTO -- Canada's main stock index made moderate gains in morning trading today with help from banks, utilities and BlackBerry. The Toronto Stock Exchange's S&P/TSX composite index was up 41.19 points to 15,499.65 after 90 minutes of trading. Source
  • Lobster thefts: 3 face charges in $3M international fraud case

    Economic CTV News
    BARRINGTON, N.S. -- A lengthy RCMP investigation into allegations of fraud and theft involving more than $3 million worth of lobster has led to charges against three Nova Scotia men. The Mounties say their investigation started in July 2015 when allegations arose that a man from Shag Harbour, N.S. Source
  • Extra work and time leads to jump in Canada Summer Jobs funding requests

    Economic CTV News
    OTTAWA -- Almost 42,000 businesses have applied to hire a student through the Canada Summer Jobs program, surpassing the number of applications last year, the federal government says. The number of applications could be considered a bit of a miracle after federal officials predicted earlier this year that applications would fall short of the government's goals. Source
  • 1st Trump budget chops food stamps, Medicaid while boosting defense & infrastructure spending

    Economic CBC News
    President Donald Trump Tuesday is unveiling a $4.1 trillion spending plan that relies on faster economic growth and steep cuts to programs for the poor in a bid to balance the government's books over the next decade. Source
  • Google aims to connect online ads to real-world sales

    Economic CTV News
    SAN FRANCISCO -- Google already monitors your online shopping -- but now it's also keeping an eye on what you're buying in real-world stores as part of its latest effort to sell more digital advertising. Source
  • Trump administration sending Congress $4.1-trillion budget

    Economic CTV News
    WASHINGTON -- U.S. President Donald Trump is sending Congress a $4.1 trillion spending plan that relies on faster economic growth and steep cuts to programs supporting low-income individuals to balance the government's books over the next decade. Source
  • Lumber exports help push March wholesale sales above $60B

    Economic CTV News
    OTTAWA - Statistics Canada says wholesale sales were up 0.9 per cent in March, surpassing the $60 billion mark for the first time. Total Canadian wholesale sales for that month reached $60.2 billion as strength in lumber exports offset declines in motor vehicles and heavy machinery. Source
  • Microsoft Surface gets battery boost, more viewing angles

    Economic CTV News
    NEW YORK -- Microsoft is refreshing its Surface Pro tablet with longer battery life and faster processors. The new, fifth-generation device -- simply called Surface Pro -- won't look or feel drastically different from its predecessor. Source
  • A 10% mortgage hike would sink almost three quarters of homeowners, Manulife says

    Economic CBC News
    Nearly three quarters of Canadian homeowners say they would have difficulty paying their mortgage if their payments were to increase by more than 10 per cent, says a new survey by Manulife Bank. Thirty-eight per cent of those polled say their mortgage bills could rise between one to five per cent before they would have financial difficulty; 20 per cent say they could sustain an increase in payments between six to 10 per cent before having trouble; and 14 per cent say any hike would be a…
  • After scare, Virgin Atlantic flight leaves Dubai for London

    Economic CTV News
    DUBAI, United Arab Emirates -- A Virgin Atlantic flight from Dubai to London that was evacuated over unspecified concerns earlier Thursday in the United Arab Emirates was cleared after a security check and took off for Britain, officials said. Source