How is Being a Baby Boomer Going to Affect Your Canada Taxes?
Many of us know that this is the age of the baby boomers, and if you are not sure if you fit into this category then all you have to realize is that if you were born between 1946 and 1965 then you can count yourself amongst this group.
So what does that mean to you from a tax point of view? Well first off it will depend on whether you are still actively working or whether you have retired. It will also depend on whether you are now receiving your Old Age Security and perhaps Canada Pension Plan. It will also depend on whether you have private investment income, RRSPs and other registered savings plans. In other words being a baby boomer and your tax implications and obligations are just as individualized as they have been prior to becoming a baby boomer.