Last updated: February 05 2013

Reduced Net Income Pays Off in Spades

Keep an eye on net income, Line 236 of your T1 return. It’s one of the most important lines because of its impact on the size of your refundable and non-refundable tax credits. 

You can reduce your net income by making an RRSP contribution. That will increase your credits and your after-tax cash flow, too.