![]() |
|
| *The Commerce Journal>>>Canada Taxes |
2007 Canadian Taxes - Scholarship Deductions? |
As far as I know, last year, one did not have to claim scholarship ammounts not exceeding $3000 -- they were tax deductable. Now, my question is, for the year 2007, is it possible to subtract $3000 from one's current scholarship amount which exceeds $3000? http://www.cra-arc.gc.ca/tax/individuals... . . . this is the link to the Canada Revenue Agency page that offers up the details needed. dunno For your 2007 return, do you have a T2202a (for tuition amounts)? If you do and it shows either part time or full time months attended then the entire scholarship is tax free because you get the education amount. If you do not have an education amount then the entire thing is taxable. |
| Tags |
| Spain Taxes Singapore Taxes Mexico Taxes Ireland Taxes India Taxes Germany Taxes Canada Taxes Australia Taxes Small Business Renting & Real Estate |
| Related information |
More US replies I see, but in this case the rules are pretty well the same it seems. Assuming your audit report is finalized, CRA will deduct the audit figure from the refund for this year. PS ... Once again, you can IGNORE the US answers. All income is taxable, he needs to claim everything, even a small amount. If he ONLY had that income, he could probably get away with not paying, but ... same enevelope is OK, as the CRA will open it up and review each tax return. ...Doubtful that it has even been processed this soon. ...Consumers do not get GST back, no matter when they dispose of goods. That's the whole point of the tax, it is applied each time there is a transaction. So if a car were (for some reason) to ... You would contact the Provincial Ministry of Revenue, as well as the GST people, and ask for their advice on the situation. I am guessing that GST will still apply unless YOU can show the serv... yes, you will be charges interest if it not received by April 30th. if you sent your filing in, they will send you a statement and you can pay at your bank.... deadline 30Apr. hopefully you get tha... That's funny. I didn't know that in Canada we report to the IRS. I always thought it was CRA. ... |
Commerce Categories--Copyright/IP Policy--Contact Webmaster |