Taxes - what does 'refund transfer' mean?

[mrsjanuary]

So hubby just got his assesment back and he got a cheque instead of direct deposit. The amount on the cheque is a bit less than what Quicktax told us he would get. While looking over the assesment, I see that there is a "refund transfer" amount deducted from what we were supposed to get back (about what the cheque was short). I tried looking online but can't seem to figure out what this means and why it was deducted from our cheque.

In case it helps, the cheque amount was 4391.20 (woot!) and the refund transfer is 80.71

Any help would be appreciated!

[tasha313]

I think.. but im not sure.. maybe it went to you. Did you get your cheque yet ? I dont know why this would happen but i think thats possible. Or maybe if you owed money to the govt.. otherwise.. i dunno. . Try calling an accountant they might give you that info on the phone. Try that before calling the govt cause youll be on hold for a while lol.

[haneylaw]

Could you have checked something accidently that said to hold some of your refund to put toward next years taxes? I think you may need to sit down with a tasty beverage and wait on hold, I could call them about it.

[Insane]

Usually it has to do with owing the gov money. It should be written on the first page of his notice of assessment.

[lessthanthree]

Stupid QuickTax. Told me I was getting $1622.32 back...I got $49.90.
Jerks.

[Mia001]

"refund transfers" are usually done between H/W, as an example, if you had to pay an amount to gov, a part of your DH refund can be tranferred and deducted from the amount you have to pay.....to reduce and/or to make it to 'zero'...

[mrsjanuary]

oh okay! i think i understand now. thank you for the help my peeps!

[Sally888]

No idea but holy sh*t how did u get back so much?

[Mia001]

No idea but holy sh*t how did u get back so much?

well....i don't want to go into personnal things but he probably had pay too much taxes +all kind of deductions worth it....kids, SAHM, + some others....there are all kinds one can have .....lol

[mrsjanuary]

for mine, i had to pay a bit, since i own my own business.

for hubby, he has the RRSPs under his name (FOR NOW!) and he also had a bunch of school credits.

[orv]

wow thats a nice cashback! lol.. we owed the gov't too.. any they just took it off our refund..(although we went through HRblock) and told us if we supplied them with what they needed,(rent receipts and letters from people ect) we could eventually be re-embursed for the money they took... 318$... i doubt ill bother.. its not money i received so its not really money im missing.. and its a big hassel to have to run around finding the crap they want........lol