[Mr.HappySilp]

Is that time of the year again. So fellow RS are you getting money from the gov:toot: or have to pay :heckno:

I am not getting much back around $1000 but it isn't too bad.

[saveth]

You aren't getting money from the government. You overpaid your taxes therefore you're getting a refund.
Posted via RS Mobile

[radioman]

Closest to $0 wins :) $348 here.

Without going under :troll:

[Selanne_200]

Going under is actually a win, it means you got a loan from the government tax free for a year. It's money you would've had to pay tax on anyways
Posted via RS Mobile

[Mr.HappySilp]

You aren't getting money from the government. You overpaid your taxes therefore you're getting a refund.
Posted via RS Mobile

It would be aorund like 0 if I haven't purchase RRSP so I guess is free money?

[Teriyaki]

Paying is the win. Means you're in a respectable income bracket. Furthermore you didn't prepay enough and got a interest free loan for a year.
Posted via RS Mobile

[IMASA]

This is the first time I have maxed out my RRSP's, including everything accumulated from previous years. Looking to get a ~$5k return.

[Selanne_200]

This is the first time I have maxed out my RRSP's, including everything accumulated from previous years. Looking to get a ~$5k return.

Maxing out your RRSP is only beneficial to you when you make more than the lowest tax bracket, otherwise, you're just deferring the taxes you owe the government

[bobbinka]

It would be aorund like 0 if I haven't purchase RRSP so I guess is free money?

it's not free money, it's YOUR money to begin with. effective tax planning could have ensured you kept that money during the year, instead of waiting till tax time to get it back. Basically, you just gave the government an interest free loan. I don't know if I would call that a win :)

Paying is the win. Means you're in a respectable income bracket. Furthermore you didn't prepay enough and got a interest free loan for a year.

Please clarify what you mean by a "respectable income bracket".

Paying or getting a refund does not mean you're in a higher/lower income bracket. The only thing it tells us is whether too much/little tax was deducted from you throughout the year. Anyone at any income level can owe or get a refund.

[sdubfid]

I think you have income tax and welfare mixed up. Welfare is where you get money from the government. Bill 77 states all companies must send out vaseline with your t4
Posted via RS Mobile

[mr_chin]

it's not free money, it's YOUR money to begin with. effective tax planning could have ensured you kept that money during the year, instead of waiting till tax time to get it back. Basically, you just gave the government an interest free loan. I don't know if I would call that a win :)

Do you go up to children and tell them santa clause is not real?

[Lomac]

Did my taxes a couple weeks ago and the first try came out to me owing roughly $2000. Thought it looked wrong, so I redid it and now I'm owed just shy of $600. Only reason why I'm getting a refund is because I cashed out one of my RRSP accounts last year and I had my bank take a few extra dollars to dump towards the taxes just in case I had miscalculated at the time.

*shrug*

[bobbinka]

Do you go up to children and tell them santa clause is not real?

only when i want a good laugh :lol

[bcedhk]

Question:

How do I know or find out whether I claimed my T2202A (tuition/books)? I graduated 3 years ago and I can't recall if I claimed any T2202a's because I was told to "save it" until I get a larger annual income.....

Will I need to call the CRA to find out?

[jing]

Look up your tax returns from previous years? Or, you can access all that info online but you will have to sign up for an account on the CRA site.
Posted via RS Mobile

[evlee]

This is the first time I have maxed out my RRSP's, including everything accumulated from previous years. Looking to get a ~$5k return.

X2 but I am predicting a return of 3k

Muneys I will not see as it will go back in.
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[BrRsn]

finished taxes, and was ready to mail them -- happy about a fairly large return (..because... unemployed...)

then I opened my mail from friday and realized I owed about $600 worth of taxes from 2012

#firstworldproblems

:okay:

[Slifer]

Paid wayyy too much taxes last year! :flamemad:

[karmsidhu]

Yeah I have yet to file mine as well
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[FerrariEnzo]

I paid $90... DAMN

[4444]

i have a feeling i have to pay this year, have over $20K in contract work that i didn't think was $20K!!!!

i have to wonder, if i made all that money 'extra', where the hell did it go, i sure as i hell don't have it now!!!

[trancehead]

Question:

How do I know or find out whether I claimed my T2202A (tuition/books)? I graduated 3 years ago and I can't recall if I claimed any T2202a's because I was told to "save it" until I get a larger annual income.....

Will I need to call the CRA to find out?

sign up for an account on the CRA website and you can view how much you have left remaining.

I did this last thursday.

Although they will tell you that you need to receive a PIN by snail mail first before you can proceed. But you can preview or take a sneak peak at your account amounts still . Just look for that option.

[trancehead]

SimpleTax: Free Canadian Tax Return Software (http://simpletax.ca) is great btw. I still need to see my accountant as I have some business activity, but this is a great projection neverless

[heleu]

I'm expecting a ~ 3K refund.

Yes, while I know I overpaid in taxes, at the end of day, cash is king, and all I know is that I'll have some extra money later this month.

[Gamed]

HR Block has free tax software
https://www.hrblock.ca/services/tax_software/tax_software.asp

Same with Studio Tax
StudioTax - Canadian Personal Income Tax Software (http://www.studiotax.com/en/?page=2)

[m3thods]

I've used StudioTax for 3 years now and it's been great. I actually duplicate work on TurboTax to "check my work" as the software wizard is better on the latter. I just submit via netfile using ST. I continue to use ST as my previous years' information are all stored in their file formats.

[nns]

I'm a little confused. I received 2 T4s from my employer. Each T4 having different #s. I'm guessing I should file both?

[saveth]

I use studio tax. Its not the nicest tax software to look at but gets the job done.
Posted via RS Mobile

[bobbinka]

Question:

How do I know or find out whether I claimed my T2202A (tuition/books)? I graduated 3 years ago and I can't recall if I claimed any T2202a's because I was told to "save it" until I get a larger annual income.....

Will I need to call the CRA to find out?

sign up for an account on the CRA website and you can view how much you have left remaining.


The remaining amount shown is not an indication of whether you reported your previous T2202a, nor is it an indication of how much had been claimed before.
ie. if my remaining amount is $10000, how do i know if its from last year or the year before? how can i tell which year i forgot to include the t2202a?

The only way to check is to look at each year's Tax Return and see whether there was anything reported in each of those years. If you are not sure how to figure that out by looking at it, you will need to call CRA to be certain (or pay somebody).

[bobbinka]

I'm a little confused. I received 2 T4s from my employer. Each T4 having different #s. I'm guessing I should file both?

Yes, you include both. Some employers issue multiple T4s for different types of payments. For example, my overtime pay is on a separate T4 than my regular pay.

[nns]

Thanks.

Maybe you can help me answer this, what's "13 - RRSP contributions you are deducting for 2013"?

I'm guessing that's the amount of money out of the sum total that I've put into RRSPs, which I've decided to claim in income taxes in an effort to get a return back?

[bobbinka]

Thanks.

Maybe you can help me answer this, what's "13 - RRSP contributions you are deducting for 2013"?

I'm guessing that's the amount of money out of the sum total that I've put into RRSPs, which I've decided to claim in income taxes in an effort to get a return back?

Precisely.

I can contribute $1000 in RRSPs this year, but it doesn't mean I need to claim all $1000 right away. Maybe I only want to claim $200 this year and save the other $800 for next year. (note* You'd still need to report you contributed the total $1000, so CRA knows how much unused amount is left over for the future)

[winson604]

I'm surrpised people still pay and buy tax software when CRA themselves list all the free programs on their bloody website.

NETFILE - Certified Software for the 2014 NETFILE Program (2013 tax return) (http://www.netfile.gc.ca/sftwr-eng.html)

[meme405]

I'm surrpised people still pay and buy tax software when CRA themselves list all the free programs on their bloody website.

NETFILE - Certified Software for the 2014 NETFILE Program (2013 tax return) (http://www.netfile.gc.ca/sftwr-eng.html)

Once your taxes get a little more complicated, such as owning a business, you have to start investing in better tax software.

However for the vast majority of people you are correct, I have no idea why they pay for tax software...

[m3thods]

Judging from what I've seen at the retail level, there are a lot of people who are wary of free software thinking there's some catch. While working at Staples I would sometimes quietly mention that there are always free alternatives, but I would always get a "I don't trust free software/Nothing is free" rebuttal.

Also, some people (I know because I see it in my own family) simply don't know how to use the internet. They would rather just go into a store and buy the program that they can simply find just by doing a Google search. I know it's hard to believe in this day and age, but it's true.

[JSALES]

I had to pay around $600 last year, hopefully this year I get a decent return though I'm still waiting for my T4 =/

[winson604]

Judging from what I've seen at the retail level, there are a lot of people who are wary of free software thinking there's some catch. While working at Staples I would sometimes quietly mention that there are always free alternatives, but I would always get a "I don't trust free software/Nothing is free" rebuttal.

Also, some people (I know because I see it in my own family) simply don't know how to use the internet. They would rather just go into a store and buy the program that they can simply find just by doing a Google search. I know it's hard to believe in this day and age, but it's true.

lol fair enough. I can think of countless time I'm talking to a citizen on the phone trying to direct them to our City website vancouver.ca

Conversation goes like

me: Ok go to Vancouver.ca
citizen: ok I'm on google now where do I go
me: *face palm*

[Euro7r]

I'm surrpised people still pay and buy tax software when CRA themselves list all the free programs on their bloody website.

NETFILE - Certified Software for the 2014 NETFILE Program (2013 tax return) (http://www.netfile.gc.ca/sftwr-eng.html)

Isn't it only free if you are a student or making low income?

[Euro7r]

I owe about $1k. Cra can wait till deadline before they see money from me lol

[m3thods]

lol fair enough. I can think of countless time I'm talking to a citizen on the phone trying to direct them to our City website vancouver.ca

Conversation goes like

me: Ok go to Vancouver.ca
citizen: ok I'm on google now where do I go
me: *face palm*

Oh man I seriously think that the majority of the 45+ demographic is like that. Not everyone is happy with change, and a lot of that has happened in the last 20 years. It's easy to be left behind with the sort of progress we've seen.

My mom who is turning 50 this year (and was never a technical person to begin with) uses a computer every day for work. But "using" a computer is not the same as using a computer. Case and point- I was using my mom's computer the other day (it's in the living room, has linux because it's been a pain maintaining Windows for her) and I noticed "facebook.com" in the google search bar just beside the URL bar in Firefox.

I asked my sister what the hell that was all about, and she replied that putting "facebook.com" in the google search was how my mom logged on. Sure it's an extra click, but god damnit you'd be surprised what people don't know with respect to newer technology. You just can't assume they know lol


Back on topic- I'm expecting a healthy return as I've been putting RRSPs away for use for a first-time home buyers' credit. The refund will just end up in my TFSA to continue saving for said home :(


Isn't it only free if you are a student or making low income?

Yep it is. I forget what the income cut off is (I think 20k or something).

[winson604]

Isn't it only free if you are a student or making low income?

No, Studio Tax for example is straight up free regardless. I've been using it for a few years now. Some of the free options I believe have a criteria but some are just straight free.

[m3thods]

^I was thinking he meant for paid programs like TurboTax. StudioTax is free free free.

[mr_chin]

Me and my friend was discussing that if you get a professional to do your income tax, you can possibly get more back.

My question is, under what circumstances should you pay someone to do it for you? I've been filing my own income tax for several years now using studiotax, I just hope I'm not missing out on more money by not having someone with income tax knowledge to file it.

I'm just an average employee doing 8 hour shift 5 days a week.

[Selanne_200]

Most tax programs are more than sufficient to maximize your return and claiming of any credits if you have a simple income such as those from a T4 or a T5. The only time I would consider maybe getting a professional on board would be when you have multiple sources of income including business, property and commission, since there are many things that are deductible and non-deductible or 50% deductible and the whole deal. Also if you run your own business, I would probably recommend getting an accountant to handle your tax as well

[mr_chin]

Damnit, looks like I will be owing $4.00.

[twitchyzero]

pretty annoyed at CRA for 2012 reassessment
they said review/processing my T2202A takes 6-8 weeks...for one friggin form
so I thought to upload documents electronically to speed up the process because i'm in a crunch to get to my 2013 taxes filed

nope...they want to send you a security code by slow mail before you can even register...seriously what kinda backwards ass country do we live in

[m3thods]

^It's the worst. My first code didn't come in so I called in to ask if they could give it to me over the phone. I understand that it's a security feature, but given I answered all the security questions over the phone, I don't see how that's safer than getting a code in the mail for someone to potentially steal (likely by accident).

Anyways the code took the whole 5 BDs. Thankfully I wasn't in a rush to get things done, but yes you're right it's quite backwards.

[Mr.HappySilp]

I am actually getting $1200 back after RRSP and school credit =D. Time for a new phone!

[bobbinka]

pretty annoyed at CRA for 2012 reassessment
they said review/processing my T2202A takes 6-8 weeks...for one friggin form
so I thought to upload documents electronically to speed up the process because i'm in a crunch to get to my 2013 taxes filed

nope...they want to send you a security code by slow mail before you can even register...seriously what kinda backwards ass country do we live in

The onus is on you to file your taxes correctly on time, which would've been last year. Since you are only doing/fixing it now, you can't really blame anyone else. It's tax time right now, for 2013 taxes. Your 2012 return has no priority.

Just because it's one form doesn't mean they just slip it into a folder under your name and call it a day. Your entire return is redone. The credits from your tuition don't just affect that year's tax return, but also future tax returns.

Identity fraud. That's why. I don't even know why this would need to be explained.
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[CA_FTW]

I use Quicktax/Turbo Tax every year..

Torrent the newest (CAD) version and good to go.. gets all the updates.. never been an issue.. been doing it every year. for the last 8 years or so.

i also do the Tax's with it for my Sisters/ and couple friends.

[twitchyzero]

The onus is on you to file your taxes correctly on time, which would've been last year. Since you are only doing/fixing it now, you can't really blame anyone else. It's tax time right now, for 2013 taxes. Your 2012 return has no priority.

Just because it's one form doesn't mean they just slip it into a folder under your name and call it a day. Your entire return is redone. The credits from your tuition don't just affect that year's tax return, but also future tax returns.

Identity fraud. That's why. I don't even know why this would need to be explained.


I file my taxes correctly and on time every year... I suspect I get audited each year because my tution was significantly more than the average...happened to all of my classmates but most other students didn't seem to be affected. I got fed up and didn't send supporting documents for a reassessment in a timely manner...regardless I'm surprised things aren't processed on a first come, first serve basis.

I get that they are trying to make the system safer, but really, 5-10 business day just to get a login? If they are so worried why not let people go in-person to a Service Canada centre to setup? Banks have information equally sensitive yet they don't have this delay.

Forgive my ranting...I'm just frustrated at some of the system we have in place in Canada. For example, an admissions exam that I'm writing...in Canada it's offered twice a year only, results take 8 weeks...scheduled at the worst times in the year (midterm season). Get to exam 30 min early..yet it starts an hour late (apparently it's normal). US equivalent is offered daily and results are given at end of the exam. :fulloffuck:

[winson604]

I file my taxes correctly and on time every year... I suspect I get audited each year because my tution was significantly more than the average...happened to all of my classmates but most other students didn't seem to be affected. I got fed up and didn't send supporting documents for a reassessment in a timely manner...regardless I'm surprised things aren't processed on a first come, first serve basis.

I get that they are trying to make the system safer, but really, 5-10 business day just to get a login? If they are so worried why not let people go in-person to a Service Canada centre to setup? Banks have information equally sensitive yet they don't have this delay.

Forgive my ranting...I'm just frustrated at some of the system we have in place in Canada. For example, an admissions exam that I'm writing...in Canada it's offered twice a year only, results take 8 weeks...scheduled at the worst times in the year (midterm season). Get to exam 30 min early..yet it starts an hour late (apparently it's normal). US equivalent is offered daily and results are given at end of the exam. :fulloffuck:

LOL I hear ya about the 5 business day for a login code being mailed to you. I was going to make an account to check the status with my claim and when it said I gotta wait for a piece of mail first I just opted to wait instead. One of these years I'll wait haha

[Volvo-brickster]

cra even lists all the free software out there

NETFILE - Certified Software for the 2014 NETFILE Program (2013 tax return) (http://www.netfile.gc.ca/sftwr-eng.html)

3rd year using studio tax

for shit and giggles i tried 2 different programs last year, they were within $0.50 of each other, so pretty accurate

[bobbinka]

I file my taxes correctly and on time every year... I suspect I get audited each year because my tution was significantly more than the average...happened to all of my classmates but most other students didn't seem to be affected. I got fed up and didn't send supporting documents for a reassessment in a timely manner...regardless I'm surprised things aren't processed on a first come, first serve basis.

It sucks, but at the end of the day you had your chance!


I get that they are trying to make the system safer, but really, 5-10 business day just to get a login? If they are so worried why not let people go in-person to a Service Canada centre to setup? Banks have information equally sensitive yet they don't have this delay.

Well, first off, Canada Revenue Agency and Service Canada are two different things, so that doesn't work. Second, money money money. Not sure if anyone's paid attention in the last year or two, but there were budget cuts that led to a large cut in Government jobs. The effect it had on CRA included the shut down of all front offices, meaning you can no longer walk in to talk to somebody. So, they can't afford to do it.

Yes, there are lots of companies that have sensitive information as well, but the difference is that you're their client and they want you to stay with them so they can make money off of you. If spending more money to pay for services and technology that will make your life more convenient, helps keep you as a customer and brings more customers in, then why not? It's an investment.

For the government, it's different. Unless you choose to move to a different country, you have no choice but to pay tax. Spending dollars on something that already works would mean not being able to spend elsewhere. No matter what they do, someone else will complain, it's a lose-lose situation. You want someone at the counter for you to go pick up an online code, someone else will think that it's a waste of money when you can just wait 5 days for the mail and complain the government is spending money on useless things (which i'm sure we can all relate to).


Forgive my ranting...I'm just frustrated at some of the system we have in place in Canada.

I hear ya, but it is what it is. No system (here or anywhere else) is perfect. They all have their flaws and to fix all of them would cost everyone an arm, a leg, and their first born child.

Economies of scale. People tend to forgot (or don't realize) that Canada has the 2nd largest land mass in the world but with only a fraction of the population of other countries.

1 Russia - 143,420,300 population - 17,075,200.00 Sq kilometers
2 Canada - 32,805,000 population - 9,976,140.00 Sq kilometers
3 USA - 295,734,100 population - 9,629,091.00 Sq kilometers

While there are less people to "take care of", there are fixed costs that stay the same regardless of the population. Simplest example would be roads, we need them to connect us between various locations. It doesn't matter if there are 100,000 people using them or 500,000 using them, they need to be built. But for a community with only 100,000 people, that means it would have less money to spend elsewhere in comparison to a larger community. This makes it seem really inefficient, but it's just doing the best it can with what it has.

Having said that, we're all tax paying citizens and you deserve to be heard. If things aren't the way you want and you want change, you should let your MP know.

[GabAlmighty]

Looks like i'm getting about 5k back. Was gonna buy car parts but instead it's going into the buy a house fun.

Now to see if I get audited for the 4th year in a row...

[twitchyzero]

bobbinka,

how should I report temp work? I did some work for 2 days and some employers give you T4 some don't. All I have is the paystub with total amount and no clue on the actual deductions. I requested a T4 and they said they don't give them out for temps if I didn't go through temp agency.

are they wrong and jus have lazy accountants?

[bobbinka]

When to complete a T4 slip (http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/rtrns/t4/slps/whn-eng.html)

if they didnt have to deduct anything, and it was below a certain amount paid, they may not have to issue you anything.

if you dont fall under that category, then there's a possibility it has to do with your employment type, or how the employer classifies you (employee vs contract). But for this, you're better off speaking with the Business side of CRA to try and figure out whether you are an employee or not (and therefore whether deductions should have been made).

if you know how much you earned from that pay stub, you can just include it on your return anyway (other employment income). Since they didn't issue a T4, i'm guessing no deductions were made.

[hotjoint]

fuck I owe about $1400 :(

[Carl Johnson]

fuck I owe about $1400 :(

that's actually a good thing

[m3thods]

"good thing"

I buy the "interest free loan" argument. But there's nothing good about having to pay them eventually. At least for me, since I'd be unaware to an extent that I'd be owing the government, I wouldn't have put whatever taxes I owe to the government to something constructive like a short-term investment account.

I probably would've blown the "loan" on random shit like hockey sticks and take-out. Otherwise known as needless things.

[mr_chin]

I just got my dental bill today and the receptionist said I can use it for next year, but since I haven't filed yet can I still claim it?

[subordinate]

I just got my dental bill today and the receptionist said I can use it for next year, but since I haven't filed yet can I still claim it?

When did the dental work happen? if it was in 2013, then you can claim it for 2013.

Generally speaking, if you have more dental expenses for this year, it would be advised that you defer the credit until the 2014 tax return, since the calculation of the Medical expense would be the total for any 12-month period of that year.

[Selanne_200]

If i remember correctly, medical expenses can be added together in any 12 months period as long as it ended in 2013, but in order for it for translate into a tax credit for you, you must've spent at least 2,152 or 3% of your net income, whichever is less. So basically whatever you spent on top of that amount would translate into tax credit, anything else, it doesn't do anything for you and its a waste. In other words, if you have no other medical expenses for 2013, it might be more worthwhile for you to save it for use in 2014.

[subordinate]

If i remember correctly, medical expenses can be added together in any 12 months period as long as it ended in 2013, but in order for it for translate into a tax credit for you, you must've spent at least 2,152 or 3% of your net income, whichever is less. So basically whatever you spent on top of that amount would translate into tax credit, anything else, it doesn't do anything for you and its a waste. In other words, if you have no other medical expenses for 2013, it might be more worthwhile for you to save it for use in 2014.

This, Selanne worded it much more clear than I did.

It sounds like he got braces and instalment plan?

[mr_chin]

This, Selanne worded it much more clear than I did.

It sounds like he got braces and instalment plan?

Thanks guys.

Got a crown done and paid 50% of it, so I guess no point claiming it. I will save it for next year.

[subordinate]

Thanks guys.

Got a crown done and paid 50% of it, so I guess no point claiming it. I will save it for next year.

yeah, I don't think the crown (roughly 1,100 by itself) is going to meet past the threshold to claim it as a medical expense. Unless you have glasses, etc, that are eligible to go over the bracket amount.

[SpartanAir]

Some tips:

Don't use H&R Block, they have no idea what they're doing. It's like a weekend course to be certified to work there.

Don't E-File. 80% of audits come from E-Filing.

[radioman]

^I'd agree with you on the first point.

Got anything to back up the second one? I've always heard that it wont affect your odds of being audited.

[SpartanAir]

^ I don't, other than my accountant used to work for Revenue Canada. It's an estimate based on his experience; he suggests all his clients mail their returns. Almost every audit in the past several years he dealt with came from an E-File.

If you think about it it makes sense. Revenue Canada can process far more accounts by scanning numbers electronically submitted. However if someone has to manually input the figures from mailed returns, one can only process them so quickly.

[bobbinka]

E-filing is NOT the reason why someone would be audited. The filing method does not affect your audit risk. I highly dislike the fact that some accountants or tax preparers take your money and don't even bother taking 30 seconds to explain something properly. Or maybe they do it intentionally to scare people to make sure they keep going back to them, everybody freaks out when they hear the word "audit".

When you file by paper, you include all documentation along with it. Because it's manual, it takes a longer time to assess. Hell, just mail alone, takes time.

E-filing saves everybody time but has 0 documentation. When you have an item on your return that requires documentation, you are then sent a letter at a later point in time asking to send the documentation in. This is NOT an audit. They're simply asking for documentation that you otherwise would have sent in anyway, had you paper filed it. Does this mean EVERY person who e-files will be sent a letter at some point? No, because not everything requires documentation.

If 100 out of 100 people e-filed returns that did not require documentation, then the "audit" risk is 0%. If 100 out of 100 people e-filed returns that required documentation, then the "audit" risk is 100% (I put audit in quotations cause it's not actually an audit). It's meaningless.

So do not be scared to E-file. Just keep everything like you normally would in case they ask for it and you'll be fine.

PS. if you get audited (like an actual audit, not the above stuff)... YOU'LL KNOW.

[nabs]

Just used E-file... getting heavy return :)

I do my taxes myself I just surprise myself every year, but my return has been consistent for the last 3 years though.

[MelonBoy]

I do my tax returns online every year.. but for some reason I remember always sending it in papers and documents after I fill everything out.

Oddly enough. Last year I sent in my papers with a 600ish return but when it came back they redid my papers and gave me about 800. (Does this mean they did a audit for me and found I was suppose to receive more money??) Someone be fixing my shit and giving me back more :woot2:

[ImportPsycho]

I netfiled my wife's tax last week, i forgot that she has some additional income last year.
how do I go about adjusting her income?

[Selanne_200]

I do my tax returns online every year.. but for some reason I remember always sending it in papers and documents after I fill everything out.

Oddly enough. Last year I sent in my papers with a 600ish return but when it came back they redid my papers and gave me about 800. (Does this mean they did a audit for me and found I was suppose to receive more money??) Someone be fixing my shit and giving me back more :woot2:

I think there is a big misconception of what an audit is. After you file your taxes, you'll typically receive a Notice of assessment and/or a notice of reassessment, which basically means CRA went through your current tax return and whether or not they agreed with what you've reported/claimed and subsequently adjusted those amounts. An Audit on the other hand, is CRA going through your entire tax return and requiring you to support the claims you've made on your return either by mailing in copies of evidence and whatnot. Also, an audit could be done on any of your tax return for up to 7 years past.

[winson604]

I netfiled my wife's tax last week, i forgot that she has some additional income last year.
how do I go about adjusting her income?

You wait until they do your return then you submit changes.

How to change your return (http://www.cra-arc.gc.ca/changereturn/)

[Jayboogz]

self employed.. havent played a dollar in taxes lol gonna be scary once i get the bill from the accountant =(

[Oleophobic]

Just netfiled
used Ufile for 3 years but decided to go with StudioTax this year.
Getting a little over $3k back because of RRSPs.

Just a tip for those of you who have made donations after March 20, 2013 and have never claimed any past donations (since you can carry them forward for up to 5 years). Make sure you take advantage of the First-time Donor's Super Credit (http://www.cra-arc.gc.ca/gncy/bdgt/2013/qa01-eng.html).

It might be more worthwhile to hold off on claiming your donations until next year or even later if you plan on continuing to make donations.

[skiiipi]

So how does one set up direct deposit for your tax returns?
I tried doing it on the CRA site, and when I tried to log in with my banking info, RBC was not on the list, I saw TD, Scotia, INGDirect, but not RBC...does that mean I am not eligible for direct deposit?

Also, after I file my returns any idea how long it takes for me to get my returns back via direct deposit. I don't trust Canada Post in my area as mail always goes missing, so I really would rather the refund gets direct deposited.

[radioman]

You can add your bank info on your CRA account on the CRA website. It's the myaccount section.

Getting a cra account without using a banking institution is a pain in the ass. It might involve calling in and them mailing you your username and password. Not fun at all.

[hirevtuner]

So how does one set up direct deposit for your tax returns?
I tried doing it on the CRA site, and when I tried to log in with my banking info, RBC was not on the list, I saw TD, Scotia, INGDirect, but not RBC...does that mean I am not eligible for direct deposit?

Also, after I file my returns any idea how long it takes for me to get my returns back via direct deposit. I don't trust Canada Post in my area as mail always goes missing, so I really would rather the refund gets direct deposited.

hope this helps: How to start direct deposit or change your information (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/drct_dpst-eng.html)

[winson604]

So how does one set up direct deposit for your tax returns?
I tried doing it on the CRA site, and when I tried to log in with my banking info, RBC was not on the list, I saw TD, Scotia, INGDirect, but not RBC...does that mean I am not eligible for direct deposit?

Also, after I file my returns any idea how long it takes for me to get my returns back via direct deposit. I don't trust Canada Post in my area as mail always goes missing, so I really would rather the refund gets direct deposited.

I got money deposited into my account exactly 8 business days after I submitted my taxes with Studiotax
Posted via RS Mobile

[Verdasco]

i get around $600-700, when do these cheques come in lol

[Everymans]

I completely forgot to do my taxes two years ago. If i go ahead and do my taxes for this years on turbotax will I have an issue because I missed the year before? and can i do the year before on there as well? First time doing online taxes. I don't think i'll get a huge return so im not concerning myself with seeing a specialist.

[Nicotine]

honestly i paid H&R 100 bucks
sat there fot 20 minutes with my t4 and student loan papers
i asked my questions
(i became a legal guardian this year. and contributed rrsp)
came back few days later with, direct deposit slip from my bank and legal documents of guardianship and rrsp recipt.

i ended up getting around 4k+

maybe spending the 100 ish bucks wasnt such a bad move after all, i would not have found myself that money.

[Jas29]

I would not go to H&R Block to get your taxes done
Posted via RS Mobile

[westopher]

Clearly it worked for him.

[Jas29]

I'm pretty sure even if he went some where else they would have gotten him a refund
Posted via RS Mobile

[tool001]

I completely forgot to do my taxes two years ago. If i go ahead and do my taxes for this years on turbotax will I have an issue because I missed the year before? and can i do the year before on there as well? First time doing online taxes. I don't think i'll get a huge return so im not concerning myself with seeing a specialist.

u can file ur taxes for previous years, u wont be able to netfile, however mail it in, i did for last years taxes recently (a month back, got assessment already + chq). wait till u get assessed and then do this years. just in case (save the hassle of refiling for changes etc).

if u r getting $ back, u don't need to follow deadline.....

[Nicotine]

I'm pretty sure even if he went some where else they would have gotten him a refund
Posted via RS Mobile

yeah, i would have got a refund anywhere, but my point is they basically doubled my refund by awnsering all my questions and being very friendly. these aren't bad people and i would have no problem letting them do my taxes again.

wouldnt u be stoked to have 4k in your pocket?

[Euro7r]

^I rather pay $4k in taxes than get $4K back. Government don't give out "free money". You contributed RRSP, it'll get taxed later on when you take it out.

[m3thods]

^I rather pay $4k in taxes than get $4K back. Government don't give out "free money". You contributed RRSP, it'll get taxed later on when you take it out.

It's safe to assume that if he takes out the RRSP he contributed, it'll likely be for education, a first-time homebuyers credit, or for retirement. Most people don't take it out of the account in any other case unless there's some sort of dire emergency, or the person is stupid beyond repair.

The free money thing is only helpful if you somehow thought ahead and put that money in an investment. Most people will spend whatever disposable income they happen to come across and not think twice. If I listened to that logic, I would be upset that CRA won't take repayment in the food, hockey sticks, or the other random shit that I bought with said "free loan".

Paying 4k is worse than receiving 4k in almost every situation, even when the money is yours to begin with. I would agree with you 100% if you had said "I'd rather be square with the government than get a refund", but saying you'd rather pay 4k than get 4k is pretty out there.

[Nicotine]

^I rather pay $4k in taxes than get $4K back. Government don't give out "free money". You contributed RRSP, it'll get taxed later on when you take it out.

i paid almost $11,000 in tax on my paychecks over the last year. it wasnt free, i worked hard to have that money come back to me.

[maksimizer]

Made 15k
1.7k return

[noclue]

Government knows that most people cant save money so they withhold taxes from your paycheque. It's better to get a tax refund than frantically come up with money to pay taxes for the majority of people. Plus it feels good getting a cheque.

[bobbinka]

i paid almost $11,000 in tax on my paychecks over the last year. it wasnt free, i worked hard to have that money come back to me.

You might want to read through the thread to get a better idea of how income tax works.

If I make $50k and every single dollar is deducted from me as tax on my paychecks, just because I get back a $40k refund does not mean the tax preparer did anything good (or bad).

Competent tax preparers will calculate your tax return the exact same way. Whether H&R block was competent in doing yours, only a tax professional would know. To each their own, but generally they are not very reliable. Are you certain you weren't supposed to get back $6k instead? Or maybe they over calculated and you should only get back $2k, thus making you owe? I'm not saying you need to worry, but just pointing out that getting a cheque in the mail doesn't mean they did a good job (or bad).

[SkunkWorks]

Personally, paying $100 when you're a student for a tax return is highway robbery considering how little work is actually involved.

(This coming from someone currently working at a CA firm)

[Selanne_200]

^Agree. If you have a basic understanding of how taxes work, you would know that as a student, and the only income you have is on a T4, it could be done in as little as 10 minutes. It only gets complicated when you're a salesman on commission or self-employed/ business income regarding deductions and expenses

[dachinesedude]

yeah, i would have got a refund anywhere, but my point is they basically doubled my refund by awnsering all my questions and being very friendly. these aren't bad people and i would have no problem letting them do my taxes again.

wouldnt u be stoked to have 4k in your pocket?

sure this year you got $4K back, what if next year you pay them $100 bucks to find out that you owe hundreds in taxes? still no problem letting them do your taxes?

[Nicotine]

been 2 years now with more than 3k each year. im not complaining. its funny how no matter what forum your in on RS there is 15 people ready to jump on the guy with a diffrent opinion.

[snails]

I would not go to H&R Block to get your taxes done
Posted via RS Mobile

this, i went to H&R the last 2 years and they fucked up both times.
first time they gave me too much money back, CRA did a re evaluation and sent me a bill for 400$.

and last year i got a return, again CRA sent me a letter saying i was entitled about 100$ more

i still have to do mine for this year.. im a little gun shy after my previous experiences

[Szeto]

if it's nothing complicated ufile is a good choice, easy and straightforward. H&R block charges like 50-70 bucks to do it for you don't they?

[v_tec]

is the deadline still end of April...? or has it been extended?

[m3thods]

is the deadline still end of April...? or has it been extended?

It's been extended a days to replace the days the CRA was offline due to HeartBleed. The exact number escapes me (and the article below).

CRA extends tax filing deadline amid chaos created by Heartbleed bug - The Globe and Mail (http://www.theglobeandmail.com/news/national/cra-extends-tax-filing-deadline-due-to-chaos-created-by-heartbleed-bug/article17949709/)

[Jas29]

May 5th
Posted via RS Mobile

[moldex]

been 2 years now with more than 3k each year. im not complaining. its funny how no matter what forum your in on RS there is 15 people ready to jump on the guy with a diffrent opinion.

You just don't get it.
Posted via RS Mobile

[josayeee]

You might want to read through the thread to get a better idea of how income tax works.

If I make $50k and every single dollar is deducted from me as tax on my paychecks, just because I get back a $40k refund does not mean the tax preparer did anything good (or bad).

Competent tax preparers will calculate your tax return the exact same way. Whether H&R block was competent in doing yours, only a tax professional would know. To each their own, but generally they are not very reliable. Are you certain you weren't supposed to get back $6k instead? Or maybe they over calculated and you should only get back $2k, thus making you owe? I'm not saying you need to worry, but just pointing out that getting a cheque in the mail doesn't mean they did a good job (or bad).

This is correct. Someone who gets you the highest refund is not necessarily the best tax preparer.

As someone with a strong financial background, I will say this..

For the majority of the population, H&R Block will be sufficient and do a good job with your taxes. H&R Block will fuck up often but MORE often you make so little money CRA won't care or they just won't catch it.

If you don't have a clue about our tax system, go see H&R Block. If you make real money, go see an accountant.

[bobbinka]

been 2 years now with more than 3k each year. im not complaining. its funny how no matter what forum your in on RS there is 15 people ready to jump on the guy with a diffrent opinion.

You're judging them based on how much you're getting back. We're simply pointing out to you that that is not an indication of whether they're reliable or not. Nobody's jumping anyone, but rather trying to keep people informed.

[Nicotine]

You're judging them based on how much you're getting back. We're simply pointing out to you that that is not an indication of whether they're reliable or not. Nobody's jumping anyone, but rather trying to keep people informed.

incorrect, im judging them based on the fact that they assisted me in retrieving some of that money. they helped me out, and helped me understand what i may be entitled too. explained rrsp deductions, TFSA, first time home owner usage for that, my penalties should i need the money for other things. but it wasn't about the money, it was about the professionalism i felt. they knew what they were doing, and were very nice about it. whatever IMO, not bad people to deal with, and helped me out a bunch, so if your not dealing with hundreds of thousands of dollars its not the worst choice you can make.

[bobbinka]

they knew what they were doing...

You don't know that. I'll leave it at that. :)

[ForbiddenX]

Talk about procrastination, just finished filing my taxes :fullofwin:

$520 refund

[v_tec]

May 5th
Posted via RS Mobile

May 4th, 11:59pm...before May 5th?

Or May 5th 11:59pm?

[winson604]

May 4th, 11:59pm...before May 5th?

Or May 5th 11:59pm?

Let me google that for you (http://lmgtfy.com/?q=canada+income+tax+deadline)

[Vansterdam]

super last minute but is there a free program or website I can do my taxes on lol

[Hehe]

Accountant finished the filling on Friday... and as usual after I see the numbers... :fuckthatshit: :suspicious::okay:

Oh well... as my old folk would say, "if you are paying tax, it means you are earning money"

[46_valentinor]

super last minute but is there a free program or website I can do my taxes on lol

I believe H&R block is free depending on your income. Just finished using it and Im getting back 100 dollars, woohoo, 2 weeks of gas!!

[winson604]

super last minute but is there a free program or website I can do my taxes on lol

NETFILE - Certified Software for the 2014 NETFILE Program (2013 tax return) (http://netfile.gc.ca/sftwr-eng.html)

Personally I recommend Studio Tax. If you prefer web based there's a new one this year called Simple Tax that wasn't bad.

[Drow]

decided to do my taxes early this year so as soon i got my T4 i punched in the numbers with turbotax (great site to do it on, ive been using that site since i was in high school)

2.5k owing. WTF??? It's my first tax year where i wasn't a student. Every year i get money back, last year i got 2k.

I don't even make much... is my employer not deducing enough tax every pay cheque???

[josayeee]

Can't tell for certain unless you are willing to disclose the box numbers on the slip.

decided to do my taxes early this year so as soon i got my T4 i punched in the numbers with turbotax (great site to do it on, ive been using that site since i was in high school)

2.5k owing. WTF??? It's my first tax year where i wasn't a student. Every year i get money back, last year i got 2k.

I don't even make much... is my employer not deducing enough tax every pay cheque???

[Drow]

Can't tell for certain unless you are willing to disclose the box numbers on the slip.

i think my employer does not deduct enough taxes

[Nlkko]

Or you already used all your tuition credits during the years you were a students.

[yray]

two or more jobs?

Anyone know if union startup deductions count if they are part of deductions? I have $184 deducted till end of 2015 but only $84 in my T4.

[SkunkWorks]

Or you're working full-time now and making more?

Like above, can't tell you much unless we have the numbers.

[Timpo]

I heard this year's federal tax will be a little different because...

http://www.globalresearch.ca/wp-content/uploads/2015/10/trudeau_transparency_20140611.png

[Timpo]

oh but there's no change for the provincial tax...

http://www.waterwarcrimes.com/uploads/3/6/3/8/3638406/255770_orig.jpg

[Timpo]

decided to do my taxes early this year so as soon i got my T4 i punched in the numbers with turbotax (great site to do it on, ive been using that site since i was in high school)

2.5k owing. WTF??? It's my first tax year where i wasn't a student. Every year i get money back, last year i got 2k.

I don't even make much... is my employer not deducing enough tax every pay cheque???

If you make $23,500/year, you will owe approx $2500
https://simpletax.ca/calculator

[Timpo]

Kevin O'Leary thinks middle class focused income tax rate is bad for the country.

https://www.youtube.com/watch?v=lPXqGDtZVmU

[yray]

If you make $23,500/year, you will owe approx $2500
https://simpletax.ca/calculator

Its missing personal allowances.

[Reeyal]

Death and taxes; you can't avoid them.
If you owe taxes after doing your filing, it just means you haven't paid enough taxes through-out the year on your cheques. If the government is paying you, it just means you paid too much during the year.
In the end, you pay taxes regardless: Now or later.
RSP just means you defer taxes for later. The true savings is marginal if you calculate in all factors.

[ForbiddenX]

Anyone know of any good accountants that handle cross border taxes?

I used AGTax last year and wanted to see what else was out there

[winson604]

and every year I'll share that CRA has a list of free certified programs you can use.

Certified software for the 2016 NETFILE program (http://www.cra-arc.gc.ca/esrvc-srvce/tx/ndvdls/netfile-impotnet/crtfdsftwr/menu-eng.html)

[meowjinboo]

got over my anxieties and filed 4 years worth of taxes and completed some audits.

I'm getting a 5 digit return with gst and hst returns included.

[whitev70r]

If BC government is not going to reduce MSP but instead, increase it. MSP should at least be tax-deductible.

[tiger_handheld]

Anyone know of any good accountants that handle cross border taxes?

I used AGTax last year and wanted to see what else was out there

AmeriTax

[Jmac]

If BC government is not going to reduce MSP but instead, increase it. MSP should at least be tax-deductible.
MSP itself is pretty much a tax

[hotjoint]

Does anyone have any information about being married and claiming a dependent (child under 18)?

My wife used to be able to claim her son as a dependent but since we're now married, I'm trying to claim him under her tax return but it says we can't claim if we're married or common law. I'm using studiotax

I've search in google to see what the rules are with this but it's not giving me answers to what I'm looking for.

[DavidNguyen]

getting 98 bucks back. should i get RRSP?
im a total noob when it comes to taxes. all i know is if i dont pay then im GOOOD

[tiger_handheld]

getting 98 bucks back. should i get RRSP?
im a total noob when it comes to taxes. all i know is if i dont pay then im GOOOD



I'm sick. Should I go to the doctor?
I'm a total noob when it comes to health issues. all I know is if i don't die then i'm good.

[CRS]

Does anyone have any information about being married and claiming a dependent (child under 18)?

My wife used to be able to claim her son as a dependent but since we're now married, I'm trying to claim him under her tax return but it says we can't claim if we're married or common law. I'm using studiotax

I've search in google to see what the rules are with this but it's not giving me answers to what I'm looking for.

Can you claim the amount for an eligible dependant? (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/305/lgbl-eng.html)
What are the situations in which you cannot claim the amount for an eligible dependant? (http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/305/sttns-eng.html)

From the first link, studiotax appears to be correct.

You may be able to claim this amount if at any time in the year you met all of the following conditions at once:

You did not have a spouse or common-law partner or, if you did, you were not living with, supporting, or being supported by that person.

[bobbinka]

Does anyone have any information about being married and claiming a dependent (child under 18)?

My wife used to be able to claim her son as a dependent but since we're now married, I'm trying to claim him under her tax return but it says we can't claim if we're married or common law. I'm using studiotax

I've search in google to see what the rules are with this but it's not giving me answers to what I'm looking for.

it's best to search the website itself first. if you're referring to what used to be line 367:

Replacement of the Child Tax Credit with the enhanced Universal Child Care Benefit (http://www.cra-arc.gc.ca/gncy/bdgt/2014/qa12-eng.html)

The Child Tax Credit will be replaced by the enhanced UCCB for the 2015 and subsequent taxation years.

if you're referring to the "eligible dependent" claim on line 305, then neither of you qualify, as you're married.

[Razor Ramon HG]

Anyone here have experience with adding a WITB + T2202A?

I was a full-time student for about two months in 2015 (T2202A documented three months, so 13 weeks). According to TurboTax, "You are not eligible [for the WITB] if you were a full-time student during at least 13 weeks of the year."

Seeing as I was documented as being a full-time student for only 12 weeks, does that mean I can apply for WITB as well?

After adding just my T4/T4A documents, SimpleTax gives me an estimated refund of $1,140. Upon adding my T2202A information, it jumps to $1,670, and then when I add the WITB it jumps to $2,205.

My tax return last year was a lot simpler since I was a full-time student and I just want some confirmation if I'm doing it right this year. It seems too easy to be obtaining several hundred back like that.

EDIT: Turns out I will be fine submitting my T2202A and applying for the WITB.

According to the Income Tax Act that someone linked to me - http://laws-lois.justice.gc.ca/eng/acts/I-3.3/page-127.html

ineligible individual for a taxation year means an individual:
(b) who .. was enrolled as a full-time student at a designated educational institution for a total of more than 13 weeks in the taxation year

[XplicitLuder]

did my own taxes this year as its only a t4 and a small amount of RRSP, and used that simpletax website. only getting 59$ back =[ lame haha. how to change it so they tax me a bit more so i can have a bit more of a return later on in the year

[Gucci Mane]

did my own taxes this year as its only a t4 and a small amount of RRSP, and used that simpletax website. only getting 59$ back =[ lame haha. how to change it so they tax me a bit more so i can have a bit more of a return later on in the year

talk to the payroll of the company you work for and ask them to take off an extra 80-100 off per cheque.

[Mr.HappySilp]

did my own taxes this year as its only a t4 and a small amount of RRSP, and used that simpletax website. only getting 59$ back =[ lame haha. how to change it so they tax me a bit more so i can have a bit more of a return later on in the year

Why? I mean why would you want the gov to take your money and spend it without giving you any interest at all. Sure you get it back a year later, but why not have it now and use it on what you like IE investment, hookers and blow, new cell phones etc etc......

[CorneringArtist]

Need to confirm the numbers, but having shifted companies, and nearly fucking myself over on a low RRSP contribution, I'm getting $600 back.

[yameen]

apparently i contributed a lot to my pension plan from my union. do any of you still invest in rrsp if you have a good pension plan?

[IMASA]

apparently i contributed a lot to my pension plan from my union. do any of you still invest in rrsp if you have a good pension plan?

I do if I have the funds and if it helps me fall into a lower tax bracket and I get a nicer return. I also have to do a HBP payment.

[radioman]

Fall into a lower tax bracket? lol

[Tapioca]

apparently i contributed a lot to my pension plan from my union. do any of you still invest in rrsp if you have a good pension plan?

How good is your pension plan? Do you think it will be there when you retire? If it's a gold-plated, defined-benefit, public sector pension protected by legislation, then it will likely be there when you retire. However, if it's a private sector pension plan, there's always a chance that the company could go under and won't be able to fund its commitments to the pension fund. Or, the company could implement a change to a defined contribution plan, particularly as a tradeoff for something like higher wages in a future collective bargaining agreement.

A lot of people say that if you're young, it's better to put your savings in a TFSA because you're likely making a lower salary now than you will be in the future. The TFSA is a much more flexible instrument because you can make withdrawals and regain the contribution room the following year. If you have to use your RRSP for unforseen emergencies, you lose that contribution room forever and you have to pay tax on that money at your marginal rate when you take it out. When you retire, you have to start withdrawing your RRSP at age 71 and you have to set up a Retirement Income Fund (RIF) to stage your withdrawals to minimize your income taxes. If you have a gold-plated pension plan that is indexed to inflation, forced RRSP withdrawals could increase the taxes your normally pay, depending on amount of your pension. On the other hand, any money you decide to withdraw from your TFSA will not be taxed, no matter how low or high your income is at the time you withdraw it.

[yameen]

i'm not sure what type of pension plan i have, but it's the municipal pension plan. i contributed close to 10k last year and have very little room for rrsp contribution. this is the first year i opened a tfsa account but i guess i should contribute more into tfsa.

thanks for the info. so much info out there in google that it gets a bit confusing.

[Tapioca]

i'm not sure what type of pension plan i have, but it's the municipal pension plan. i contributed close to 10k last year and have very little room for rrsp contribution. this is the first year i opened a tfsa account but i guess i should contribute more into tfsa.

thanks for the info. so much info out there in google that it gets a bit confusing.


You should read your pension information booklet and learn about how it's managed, the types investments it contains, etc. If it's municipal, it's likely defined-benefit which means your pension is determined by some sort of formula - for example 2 times the number of years of service, divided by 100 to determine the percentage of your salary you would receive in retirement. You get the payment based on the formula, as opposed to how well your investments in the pension fund have done over the years.

However, municipal governments, because they're inherently smaller, may be riskier in terms of the financial health of their plans. You should read the financial statements of your pension plan to determine how safe it is.

[Timpo]

Fall into a lower tax bracket? lol

Tax season 2016: 10 myths that mislead Canadians - Business: Tax Season - CBC News (http://www.cbc.ca/news/business/taxes/tax-time-2016-1.2508364)

Myth 4: I should have refused that pay raise because it will bump me into a higher tax bracket.

Federal tax brackets for the 2015 tax year:


Up to $44,701 — 15%
$44,701-$89,401 — Tax rate 22%
$89,401-$138,586 — Tax rate 26%
Over $138,586 — Tax rate 29%

​​Source: CRA

Canadians face four federal tax brackets and up to six brackets provincially. But "bumping into the next bracket" just means that one's excess income in the higher bracket will be taxed at the higher rate. The higher rate does not apply to all of the person's income.

"All of the money you earned below the new tax bracket remains taxed at the lower rates," points out Edmonton-based financial educator Jim Yih in his Retire Happy blog.

"The bottom line is you should never, ever, ever turn down money. Enjoy every pay increase you receive without tax worries, and remember that those higher paycheques mean more money in your pocket."

[Timpo]

If you have Netflix account, chances are, you are cheating on your GST/PST.

However, the tax compliance is "virtually zero"

Read e-books? Watch Netflix? You're probably a tax cheat - Business: Tax Season - CBC News (http://www.cbc.ca/news/business/taxes/tax-time-2016-netflix-1.3435434)

[Hondaracer]

Does anyone know with the T2200 form, work related expenses etc, can you claim parking?

[Timpo]

Does anyone know with the T2200 form, work related expenses etc, can you claim parking?https://turbotax.intuit.ca/tax-resources/tax-deductions/tips-for-claiming-job-related-expenses.jsp


Other Employment Expenses

In some circumstances, you might be able to claim “other” employment expenses as well. However, to qualify for this additional deduction, the CRA wants you to meet two special conditions. The first condition is that your employment contract requires you to pay the expenses, and the second is that you don't receive an allowance to pay the costs; or if you do receive an allowance, that your employer adds it to your total income. If you meet these two conditions, examples of some of the expenses you can claim include accounting and legal fees, transportation costs, office rent, supplies and the price of electronic devices -- and maybe even a rebate of any GST or HST taxes you paid when you purchased these items. Just note that allowable expense amounts differ based on whether you’re a salaried or commission employee: The CRA website provides a detailed breakdown of how much can be deducted for both employee types in a wide range of categories, from meals to lodging to parking.

Unlike the Canada employment amount credit, you must keep track of expenses for this deduction. Vancouver tax professional Darryl Francis reminds us that the expenses “must be directly related to your employment – for example, if you purchase supplies, they must be used for work and not for another purpose. You want to make sure you have documents, such as receipts or invoices, to prove your expenses so they can be verified if you’re ever audited.” If you claim expenses under this category, it's a deduction from income, which ultimately reduces your taxable income and can lower your total tax due. If you’re eligible, you can claim expenses under this category, plus the general employment amount credit.

[Timpo]

What the heck...
https://www.youtube.com/watch?v=l7U3D_EGAAk

more details: Canada Revenue offered amnesty to wealthy KPMG clients in offshore tax 'sham' - Business - CBC News (http://www.cbc.ca/news/business/canada-revenue-kpmg-secret-amnesty-1.3479594)

I hope Justin Trudeau will fix this mess.
https://www.youtube.com/watch?v=zbupv6JWQVk

[XplicitLuder]

did my tax this time with turbotax, literally had to punch in 4 boxes as its a basic t4 (income, ei premiums, cpp contributions, cpp earnings) and this time it says im only getting 80 cents back LOL havent filed it but did the steps to see what i would get in return.

[jeedee]

did my tax this time with turbotax, literally had to punch in 4 boxes as its a basic t4 (income, ei premiums, cpp contributions, cpp earnings) and this time it says im only getting 80 cents back LOL havent filed it but did the steps to see what i would get in return.

atleast you're getting something back... did mine and i owe them $15 apparently :seriously: