2022 Halloween: I am the Tax Man!

No one likes taxes, but teaching my 5-year-old godson, his best friend, and their other 5 yr old classmates about taxes was extremely amusing, and educated them all while trick-or-treating around a North York neighbourhood – that evening made my week!

First I explained that if they got 3 candies I’d get 1 and immediately I got comments of ‘We don’t like the Tax Man!’, and ‘I don’t like taxes!’ to which I responded I don’t like taxes either but it’s a part of life, just ask your parents and teachers if they like paying taxes. As I glanced around I noticed they seemed a little quieter, sadder, until we got to the next door of course and they took off and the smiles returned. By the end of the night, I even taught them the progressive tax system, collect 3 give 1 to the Tax Man but you get 10 candies and 5 go to the tax man. Seeing their faces while listening to me explain the tax system reminded me how much it pains me as an adult to meet my accountant yearly around tax season or even seeing those taxes come off our bi-weekly pay.

BUT this Tax Man has a heart of gold so towards the end of the night the Tax Man gave them a one-time candy tax credit and they got to hold onto all their treats! Now I’m known as the Tax Man, till next year when he returns their candies, chocolates and other goodies are safe.

Let this be a lesson to you as we get closer to year-end, make your RRSP contributions, understand if you can submit T2200s (Declaration of Conditions of Employment) and better yet GST370s (Employee and Partner GST/HST Rebate Application) along with the T2200s, get your paperwork in order, receipts, slips, and so forth ready so you can be prepared for your accountant and with their help ‘hopefully’ legally save as much as possible from you know who hahaha

Final thoughts, our school system could do more to incorporate financial literacy into the system but till they do as parents, godparents, grandparents, and friends let’s keep teaching the youngins something new regardless of their age so they keep learning and positioning them in a better place then we were at their age – even if they don’t like it talking to them about it and having them apart of the discussion will go a long way as they grow older.

Thank you for reading to the end … here’s a borrowed meme to keep you smiling!

Did you find this blog post funny? If yes please share it with another parent, grandparents or godparents who’d also get a good chuckle out of reading this. Thank you for your time and till the next blog drops goodbye and wish for you to get a tax return next time.

Till Halloween 2023, Your neighbourhood Tax Man!!