Help your teen become tax savvy

Life moves fast. One day you’re holding your baby and the next, you’re teaching your teenager important life skills to prepare them for adulthood – from doing their own laundry and cooking their own meals to searching for their first job.

Doing their taxes is another important skill teens will need to learn. Teaching them doesn’t have to be hard.

A simple way to get started is to introduce them to the Canada Revenue Agency’s interactive “Learn about your taxes” online tool.

Through lessons, quizzes and videos this tool teaches your teen what they’ll need to know about taxes once they start working, how to understand their first pay stub, what benefits and credits are about and what their tax obligations are.

Understanding the basics when they are still young will improve their confidence when it’s time for them to do their taxes independently.

And, it will help them get the tax refund and benefit and credit payments they may be entitled to at different stages of their life.

Benefits like the GST/HST credit and the Canada child benefit (for grandkids, someday) are administered through the tax system. Doing their taxes on time, every year, will ensure they don’t miss out on any benefit and credit payments.

Though it’s a big change to watch your child grow into an adult, teaching them life skills will help ease the transition.

And, the more independent they are, the more freedom you’ll regain.

We all know that the days are long, but the years are short. Your teen can get started at canada.ca/learn-about-taxes

Related Content

Why you should check the label before you mail a package

Why you should check the label before you mail a package

Whether you’re a consumer returning something that you no longer want or need, or a manufacturer or retailer sending out products to your customers, it’s important that you know the rules about shipping certain products. Under federal regulations, some items are...

read more
The secret to shipping gifts safe and sound

The secret to shipping gifts safe and sound

So you’ve found the perfect gift for someone on your list. But if they live far away, how do you make sure it gets to your family member or friend without breaking, leaking or being otherwise damaged? While you’ll need to pay the right amount of postage and choose...

read more
3 ways to make sure your gifts arrive safe and sound

3 ways to make sure your gifts arrive safe and sound

As much as we love to gather with friends and family for holidays and other big life events, sometimes distance makes in-person meetings impossible. If you are sending packages out of town or out of the country, here are three ways to make sure they arrive as...

read more
3 common scams to watch for when shopping online

3 common scams to watch for when shopping online

Online shopping is a convenient and common way to shop for many of us these days. Whether you shop online all the time or only occasionally, there are some things you can do to keep yourself safe from scammers. Aside from best practices like choosing unique, complex...

read more
Finetune your finances in 2024

Finetune your finances in 2024

After the joy of the holidays has passed, you might be facing a bit of sticker shock when your bills start coming in. To avoid the pain of overspending, make this the year you finally get on top of your finances. Here are three things to keep in mind. Build a budget...

read more
Want to start exporting abroad? Two things to know

Want to start exporting abroad? Two things to know

Making a career out of taking raw ingredients or materials, transforming them into something new and selling your product can be both exciting and rewarding. You can use your imagination until it’s just right. But once you’ve cornered your local market, you might want...

read more