anyone know about tax returns?

[tjthemanto]

Thats pretty much what I figured once I stopped to think about it. I don't think enough taxes came off me last year (less than $1700 and I made just under $19000)

Sigh, I guess I should have dropped the money and gone into a place and claimed my eyecare bills. I only did the online free version so save a bit of $$. I appreciate that I did get a refund and don't owe, its just the first time I had seen one total and been given another and I've been filing for over ten years (4 of them by myself)

Chalk this one up to annoyance and learning curve I guess.

Actually $ 1,700 is a lot on $ 19,000 . I know people making in the same range & have got almost all of it back

I don't know your DH's tax situation & how much he makes etc ..but you should have got a lot back if it was just you .

Your only in a 15 % Federal tax bracket ..plus there are lot of basic personal exemptions ..which would have brought your taxable income down from $ 19,000 to a lot less.

Right now they have charged you taxes on $ 19,000 but they should have charged you taxes on a lot less...with all the tax credits below.

Basic Personal Amount : $ 11,038
Canada Employment Amt
CPP contributions
EI Contributions
Medical Amt

etc etc

[tjthemanto]

Thats pretty much what I figured once I stopped to think about it. I don't think enough taxes came off me last year (less than $1700 and I made just under $19000)

Sigh, I guess I should have dropped the money and gone into a place and claimed my eyecare bills. I only did the online free version so save a bit of $$. I appreciate that I did get a refund and don't owe, its just the first time I had seen one total and been given another and I've been filing for over ten years (4 of them by myself)

Chalk this one up to annoyance and learning curve I guess.

Did you do it manually or use a tax software or use a professional tax clinic.

[scbpooh]

Posted in wrong thread. Oops!

[Dealfinder07]

Actually $ 1,700 is a lot on $ 19,000 . I know people making in the same range & have got almost all of it back

I don't know your DH's tax situation & how much he makes etc ..but you should have got a lot back if it was just you .

Your only in a 15 % Federal tax bracket ..plus there are lot of basic personal exemptions ..which would have brought your taxable income down from $ 19,000 to a lot less.

Right now they have charged you taxes on $ 19,000 but they should have charged you taxes on a lot less...with all the tax credits below.

Basic Personal Amount : $ 11,038
Canada Employment Amt
CPP contributions
EI Contributions
Medical Amt

etc etc

It's hard to say without looking at all the information(But don't forget provincial taxes, federal is just half of it ), to be honest getting the tax return as close to 0 without going under is usually the best thing possible in my opinion. I know everyone loves that huge tax check in February, but your honestly just loaning the government money for up to a year when you get a refund. If human resources are taking the correct amount off, you shouldn't be getting such a high refund at the end of the year. Of course, if you do rely on this money as a way of saving you could ask HR to take off extra each paycheck so you have a higher refund(Though the better idea is to ask your bank to automatically take off the same amount each paycheck and put it into a TFSA as you'll earn interest and have an emergency fund)

Provincial tax credits can be a big part of the refund, along with businesses over-taxing, having a dependent, rent credits(this is provincial and not everywhere) even just claiming bus passes is a huge tax credit.(Though this is something they often request, so you do need to keep them all)

[tjthemanto]

It's hard to say without looking at all the information(But don't forget provincial taxes, federal is just half of it ), to be honest getting the tax return as close to 0 without going under is usually the best thing possible in my opinion. I know everyone loves that huge tax check in February, but your honestly just loaning the government money for up to a year when you get a refund. If human resources are taking the correct amount off, you shouldn't be getting such a high refund at the end of the year. Of course, if you do rely on this money as a way of saving you could ask HR to take off extra each paycheck so you have a higher refund(Though the better idea is to ask your bank to automatically take off the same amount each paycheck and put it into a TFSA as you'll earn interest and have an emergency fund)

Provincial tax credits can be a big part of the refund, along with businesses over-taxing, having a dependent, rent credits(this is provincial and not everywhere) even just claiming bus passes is a huge tax credit.(Though this is something they often request, so you do need to keep them all)

Yeah ..provincial taxes also add up..and OP is from Nova Scotia , which has the highest provincial taxes .

The HR & payroll usually don't cut the taxes properly ..they generally don't look at the tax situation of each individual employee ..but paint all the people who are making the exact same amount with the same brush & cut the same tax , CPP , & EI for all of them.

So if my co wroker who is sitting next to me & makes the same GROSS salary as me ..will have the exact same NET pay as me..my employer will cut the same taxes for us , without getting into our individual circumstances ..its easy for them to do that.

Later on both of us have to file tax returns & depending on our tax situation we will get different refunds back for the same salary .

[Passoutpanda]

I filed my taxes last week and it says my dd will be deposited on 6th march. Is there any chance I can get my taxes earlier.

[Passoutpanda]

???????

[psbudrow]

I filed my taxes last week and it says my dd will be deposited on 6th march. Is there any chance I can get my taxes earlier.

Nope, they are very accurate as to when they will give you the money. Mine is March 6th too- filed last Monday so not too bad of a wait.

[Passoutpanda]

So we will get it in the day of the 6th or we will get it on the 7th

[macw1960]

So we will get it in the day of the 6th or we will get it on the 7th

Bright and early on the 6th.

[Passoutpanda]

Thanks bro sounds goood lol

[DianneS]

You can file an "adjustment" claiming your eyecare expenses. The form can be found here:

http://www.cra-arc.gc.ca/E/pbg/tf/t1-adj/README.html

Attach your receipts (keep copies) and complete the form. They will re-assess your return for you. I just realized I need to file one myself for 2013 because I forgot to claim a $650 receipt.

[Passoutpanda]

Cra to slow

[tjthemanto]

Cra to slow

Actually they are very fast .

[Passoutpanda]

We'll my wife got her return in 3 days I don't know why I have to wait 8 business days