Financial Literacy 20, 30

(a)	Discuss why individuals pay taxes, how taxes are used by all governments (i.e., federal, provincial/territorial, municipal and First Nations), and how individuals and communities benefit from the tax system.
(b)	Research various types of taxes paid by people in Saskatchewan, including: income tax on employment and other income; sales taxes including the Goods and Services Tax (GST) and the Provincial Sales Tax (PST); property taxes; customs duties or tariffs on certain imported and exported goods; and, contributions by employers and employees to social security plans such as the Employment Insurance (EI) system and the Canada Pension Plan (CPP).
(c)	Examine the tax powers of First Nations governments and how various tax systems (i.e., federal, provincial/territorial, municipal and First Nations) apply to First Nations individuals.
(d)	Discuss the importance of tax documents (e.g., T-4, T-5, statement of earnings and TD-1s).