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

  • Starbucks branches out Italian style with pizza bakeries

    Economic CTV News
    The American coffee chain, which aims to open 12,000 new outlets worldwide by 2021, is embarking on a whole new culinary adventure in 2017, branching out from coffee to pizza. As well as serving ethically sourced coffee and a host of other hot and cold drinks and snacks, Starbucks -- which aims to increase its global sales outlets by 50 per cent -- is now planning to open a line of standalone Italian bakeries. Source
  • BRP vows to remain in Mexico even if Trump pulls out of NAFTA

    Economic CBC News
    The maker of Ski-Doos, personal watercraft and off-road vehicles says it will maintain low-cost production in Mexico even if Donald Trump withdraws from NAFTA. BRP Inc. says it expects to take a $20-million to $25-million hit if tariffs are restored on more than $1 billion of goods traded annually between Mexico and the United States. Source
  • BRP vows to remain in Mexico even if Trump's withdrawal from NAFTA raises tariffs

    Economic CTV News
    MONTREAL -- The maker of Ski-Doos, personal watercraft and off-road vehicles says it will maintain low-cost production in Mexico even if Donald Trump withdraws from NAFTA. BRP Inc. (TSX:DOO) says it expects to take a $20-million to $25-million hit if tariffs are restored on more than $1 billion of goods traded annually between Mexico and the United States. Source
  • North American markets advance, loonie up slightly

    Economic CTV News
    TORONTO - The Toronto stock market advanced in late-morning trading, led by health-care, utilities and energy stocks. The S&P/TSX composite index added 31.90 points at 15,327.10. In New York, the Dow Jones industrial average advanced 40.85 points to 19,655.66, while the S&P 500 gained 6.02 points at 2,252.21 and the Nasdaq composite rose 27.18 points at 5,444.53. Source
  • Sears Canada reports $120 million loss in third-quarter as revenue drops

    Economic CTV News
    TORONTO -- Sears Canada saw its third-quarter loss grow to $120.0 million from $53.2 million during the same period last year as revenue declined. The loss amounted to $1.18 per share, compared with 52 cents per share a year ago. Source
  • Coca-Cola CEO Muhtar Kent to step down next year

    Economic CTV News
    NEW YORK -- Coca-Cola said Friday that CEO Muhtar Kent will step down as CEO next year and be replaced by Chief Operating Officer James Quincey. The world's largest beverage maker is under pressure to grow as people around the world drink less soda, including its flagship Coke. Source
  • U.S. airlines may soon let you talk on your cellphone in flight

    Economic CBC News
    Airlines could let passengers make in-flight phone calls using Wi-Fi under a proposal from federal regulators. Flight attendants and others have complained that the calls could be disruptive. But the Department of Transportation said Thursday that it envisioned allowing the calls if airlines tell all customers about the policy when they buy their tickets. Source
  • Tribes suing over Dakota Access pipeline willing to put claims on hold

    Economic CTV News
    BISMARCK, N.D. -- Two Sioux tribes suing over the Dakota Access pipeline say they're willing to put their claims on hold while the Army considers whether to allow the pipeline to cross under a Missouri River reservoir in North Dakota. Source
  • Dakota Access pipeline court battle to linger into new year

    Economic CTV News
    BISMARCK, N.D. -- A federal court battle over whether the developer of the Dakota Access oil pipeline can finish the $3.8 billion project will linger at least into the first couple months of the new year. Source
  • Japan ratifies Pacific trade pact despite Trump plans to withdraw U.S.

    Economic CTV News
    TOKYO -- Japanese Prime Minister Shinzo Abe won parliamentary approval Friday for ratification of the Trans-Pacific Partnership, despite U.S. President-elect Donald Trump's plan to withdraw from the 12-nation trade pact. Upper house lawmakers approved the TPP on Friday, heeding Abe's calls to push ahead with it despite Trump's rejection of the free-trade initiative championed by President Barack Obama. Source