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4 answers

Of course you do. You will not only be paying income taxes, you will also be paying the retirement taxes directly that are generally withheld from the paycheques of employees.

Try here http://www.cra-arc.gc.ca/menu-e.html for more info.

2006-12-04 15:28:50 · answer #1 · answered by Bryan 2 · 0 0

Under tax law, you can do this:

You pay tax on the net income you earn when self employed, therefore a 0 or nil net income will result in 0 or nil taxes owing (but they'll still get you on CPP and the like), at least thats what every tax accountant will tell you.

2006-12-06 02:15:57 · answer #2 · answered by p_rutherford2003 5 · 0 0

you have to pay taxes until after you die. you notice i said until AFTER you die. I'm retired and have to pay taxes on my retirement just like it was a monthly pay check

2006-12-06 06:53:27 · answer #3 · answered by roy40372 6 · 0 0

nope

2006-12-06 02:50:43 · answer #4 · answered by Wl 1 · 0 0

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