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New Income Tax Starts Sept 1 in Canada
National revenue department tables show deductions from Canadians pay cheques for income tax starting with the first Sept pay period. Deductions for life insurance, pensions, or home payments may be subtracted from the savings portion, but never exceeding it. Complete Form TD-1 now to receive full allowances. Even with high rates, only 52 percent of wartime needs will be tax funded. the rest will be borrowed via War Savings Stamps and Victory Bonds.
MENTIONED IN THIS ARTICLE
National Revenue Department
Canada
National Defence Tax