| Canada Taxes |
| Can I re-file my 2006 tax return ? |
In Canada mortages and home improvements are not tax deductable. The exception would be if your renting out your property.
However for reference there is a T4 Adj form that you file to amend a ... |
| Can i claim my two teenage children for the last two years.i forgot to claim claim them as dependant? |
Yes, u can. Just file an amended tax return for each of the prior two years to claim your two other children. ... |
| Deduction for a dependant living abroad? |
Once again, IGNORE the US answer above. Why can't they read the category?
In CANADA, a person is only entitled to deduct an amount for dependents living with them. That pretty well implie... |
| Transferring website revenue from paypal/alertpay to an offshore bank account? |
If you are a cdn taxpayer and your website business constitute a permanent establishment in cda, you are required to maintain your business books and records in cda regardless where the bank accoun... |
| I'm in Canada on a work permit. Do I have to pay CPP and EI taxes? Any input will be appreciated. Thank you! |
Canada has a Social Security Agreement with the U.S. (see link).
Whether you are required depends on how long you will be down there, who your employer is (U.S. or CDN).
This of course ass... |
| Who is required to file a relev茅 1 form for income tax?? |
Au contraire, you have it backward. You file tax depending on where you live, not where you work. So you need to file Quebec and Federal returns.
Lucky you, twice the work and you'll prob... |
| Income tax return for canada...? |
You may get refunds for your paper-filed tax return in about 4 weeks.
The Canada Revenue Agency does not start processing Canadian income tax returns until the middle of February. No matter how ... |
| Who do you file an amended Canadian income tax return? |
You file an amended tax return when you notice a mistake in your prior tax year tax return. You may identify the error in a letter to the CRA with supporting document enclosed. Or, you can re-do ... |
| Where can i get stats on lawnmowers manufactured in canada and us in one year? |
You'd be pretty lucky if it turns out that these stats are kept by any agency. You'll probably have to contact the manufacturers yourself for this one. Start with the brands carried by ma... |
| How long do i have to own my principle residence before i dont have to pay capital gains if i sell it.? |
You must own and live in that residence DURING SOME PART OF A YEAR, and you can only claim one tax free principal residence exemption each year.
To designate a property as principal residence, a... |
| Taxes canadian? |
In addition to monthly public transit passes, the public transit tax credit has been expanded to include costs for:
路 Shorter duration passes if:
o each pass entitles you to unlimited travel for... |
| I owe Federal and Quebec Income tax but can only pay one. Who should I pay?? |
Basically, they are both the same. Unless you want to pay the Feds and move OUT of Quebec, you're going to have to pay both.
It really doesn't matter much. Make sure you file your fo... |
| Where can i get wage blank wage slips from? |
If you look carefully at your own wage slip you will typically find it's a pre-printed 'self carbon' form that has been computer printed (using a dot-matrix or 'impact' pri... |
| Need help claiming tuition on my taxes? |
The 16,731.00 is the total tuition you paid in previous years. The reason that the amount wasn't claimed is because you didn't need it. While you were in school, you were either not worki... |
| Canadian Tax Short Selling Stocks? |
CCRA deals with Transactions in Securities in IT- 479R. Paragraph 18 of the IT says: "The gain or loss on the short sale of shares is considered to be on income account (non capital gains or... |
| Would i have to pay tax on this? |
Interesting couple of answers above. Both of those risk you going to jail, fined, and/or being permanently denied entry to Canada.
Tell the truth, pay the GST. ... |
| GIC Interest, Where Does It Go? |
For regular, non-RRSP GIC interest... that is the correct thing to do. ... |
| Which is the best software to use when filing your taxes on the CRS site? I don't think we qualify for free! |
I've been using Genutax for over five years now and love it. It's easy to use. You enter your information on screens that look exactly like your slips. The support is also very good too. ... |
| Will I over contribute CPP & EI if I change employers mid year? |
It is possible for the CPP & EI over contributions if your earnings for 2008 will exceed $40,200 (for CPP) or $40,000 for EI. If your 2008 earnings will exceed the above amounts, you may wish ... |
| Can Captial Costs Allowance be deferred to next year? |
Yes, CCA can be deferred to next year, which allows u to claim more later (with higher undepreciated capital cost (UCC)). You just add the capital cost of the car to the CCA schedle for the yr with... |
| I pay taxes on interest I make, but can't deduct on interest that I pay? |
The interest on the bank account is income, just like money you earned at work.
The loan interest is part of your personal spending choices. You had the use of the money, you chose to pay inter... |
| Why do i pay taxes now theat im married? |
It's hard to say without looking at your previous years' taxes. Since they now use both yours and your husband's incomes to calculate credits, you are likely not entitled to certain ... |
| Will the Bank of Canada lower the prime rate to lower the value of the Canadian $? |
The BoC has indicated that they are not necessarily move interest rates in the same direction as the US Fed.
For the currency to depreciate vis a vis the US dollar, we're going to have to l... |
| Does everyone receive GST cheques in canada? |
I find you lose the credit if you start making ~$30,000 or so. ... |
| Claiming property taxes on form T777? |
Ignore the post above. It is clearly false.
Your wife can claim a % of property taxes as a commissioned employee IF she has sufficient commission income. She will have a box 42 on her T4 repor... |
| Do Canadians have to report to the Canadian government income earned in the US? |
Yes, if your wife is "resident" of Canada for tax purposes.
She can claim a foreign non-business income tax credit for any foreign taxes paid to the U.S. state and federal governments... |
| I did not receive my T4 tax slip- I live in Ontario, CANADA.? |
If you are looking for the information from your T4, you can call CRA at 1-800-959-8281 (press *). Hopefully it is in their computer by then. ... |
| What months do the gst cheques come in? |
The first payment for the year 2007 returns will be July 2008. The rest of the payments... October 2008, January 2009, and April 2009.
It is usually direct deposit the first friday of the month... |
| Commissions Entry (Box 42 on T4)? |
Box 42 is a special info box for commissioned salespeople to claim tax deductions for expenses incurred. It is transferred to Form T777. Commissioned employees can deduct some costs that non-comm... |
| 20 years old and never filed taxes? |
Paying someone to do your taxes is a waste. It sounds like you are a typical 20 year old which means it would take a total of 5-10 minutes to do each year.
Start by going to ... |
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