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03-14-2017, 06:49 PM
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#76 | | Rs has made me the man i am today!
Join Date: May 2002 Location: Surrey
Posts: 3,219
Thanked 825 Times in 289 Posts
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Sale price less your original cost gives your gain. Now take your gain and divide that in half as the gain is 50% taxable. Subtract any outlays as well (legal expenses to sell and what not) and then you will have your final capital gains income.
Example:
Sold for 1,000,000 less cost of 500,000 equals a 500,000 proft (YAY). The 500,000 is divided in half leaving 250,000 less your outlays as your capital gains to be taxed in your personal tax return. Which means your fucked..lol
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03-21-2017, 12:45 PM
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#77 | | Ricer Mod
Join Date: Mar 2005 Location: Smithers
Posts: 7,008
Thanked 5,276 Times in 1,501 Posts
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Question on claiming dependents. Can 2 people claim a single dependent (child) and split the child tax benefits?
Berz out.
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President of RS Beat Down Crew
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03-21-2017, 12:51 PM
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#78 | | Need my Daily Fix of RS
Join Date: Nov 2014 Location: Burnaby
Posts: 276
Thanked 247 Times in 90 Posts
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I think your answer is here>> https://turbotax.intuit.ca/tips/fami...n-i-claim-5171 Quote:
Originally Posted by Berzerker  Question on claiming dependents. Can 2 people claim a single dependent (child) and split the child tax benefits?
Berz out. | | |
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03-22-2017, 09:56 PM
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#79 | | I contribute to threads in the offtopic forum
Join Date: Dec 2003 Location: Vancouver
Posts: 2,777
Thanked 1,045 Times in 419 Posts
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If I already got my return, but forgot to claim some expenses, can I still go back and claim them?
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03-23-2017, 07:07 AM
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#80 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,133
Thanked 2,066 Times in 865 Posts
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Originally Posted by mr_chin If I already got my return, but forgot to claim some expenses, can I still go back and claim them? | yes
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Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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03-23-2017, 05:41 PM
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#81 | | My homepage has been set to RS
Join Date: Nov 2008 Location: vancouver
Posts: 2,242
Thanked 2,474 Times in 543 Posts
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Originally Posted by mr_chin If I already got my return, but forgot to claim some expenses, can I still go back and claim them? | There's a T1-Adjustment form available
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04-10-2017, 07:13 PM
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#82 | | Willing to sell body for a few minutes on RS
Join Date: Oct 2006 Location: Vancouver
Posts: 12,074
Thanked 3,186 Times in 929 Posts
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If I've been paying tuition out of my pocket, do they need to know that? Or the T2202a form should cover all that already
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04-11-2017, 01:57 PM
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#83 | | Proud to be called a RS Regular!
Join Date: Feb 2016
Posts: 121
Thanked 64 Times in 20 Posts
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If any of you last minute procrastinators need help with tax filing this year, I can extend my company's friends&family 50% off to you guys. Just shoot me a PM  | |
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05-28-2017, 03:45 PM
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#84 | | Need to Seek Professional Help
Join Date: Oct 2004 Location: burnaby
Posts: 1,034
Thanked 550 Times in 118 Posts
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Anyone have a delay on getting your refunds?
I sent mine in early April and still haven't received it in the mail yet.
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05-29-2017, 11:43 AM
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#85 | | Rs has made me the man i am today!
Join Date: May 2002 Location: Surrey
Posts: 3,219
Thanked 825 Times in 289 Posts
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Originally Posted by Suprarz666 Anyone have a delay on getting your refunds?
I sent mine in early April and still haven't received it in the mail yet. | If you paper filed your tax return it can take up to 8 weeks minimum. If it was EFILED than I suggest you call them as that only takes 7-10 business days.
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06-02-2017, 07:31 AM
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#86 | | Say NO to blade grinders!
Join Date: Apr 2001 Location: Vancouver
Posts: 8,083
Thanked 1,256 Times in 580 Posts
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Delay here as well, who doesn't efile these days?!
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06-17-2017, 06:18 PM
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#87 | | Even when im right, revscene.net is still right!
Join Date: Dec 2008 Location: Richmond
Posts: 1,360
Thanked 659 Times in 201 Posts
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I screwed up and reported my 2016 rental property income as $14400 rather than $14000. I dont have the full bank statements because PC bank only keep records for past 13 months. I only have partial bank records and rental agreement showing monthly rent income. If I submit only my rental agreement rather than bank statement, would this suffice? And if they ask for bank statements that I cannot provide, will I get in trouble?
__________________ Quote:
Originally Posted by JSALES While driving yesterday I saw a banana peel in the road and instinctively swerved to avoid it...thanks Mario Kart. | | |
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06-17-2017, 10:25 PM
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#88 | | I subscribe to the Fight Club ONLY
Join Date: Apr 2004 Location: BC, HK, USA
Posts: 7,343
Thanked 2,346 Times in 973 Posts
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^ $400 bucks more? errrr don't sweat over it.
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06-18-2017, 08:03 AM
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#89 | | Even when im right, revscene.net is still right!
Join Date: Dec 2008 Location: Richmond
Posts: 1,360
Thanked 659 Times in 201 Posts
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400 bucks is about $100 in refunds. You're probably right, I'll consider that as a lesson to be more careful 
__________________ Quote:
Originally Posted by JSALES While driving yesterday I saw a banana peel in the road and instinctively swerved to avoid it...thanks Mario Kart. | | |
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