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Thread: 2016 Income tax return information (Canada, with a few US links too)

  1. #1
    Dancing bean paste bun Ciel's Avatar
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    Spotted a couple of items via Twitter today that will affect some Canadians filing their 2016 personal returns:

    Sold a home in 2016 that you lived in during ownership
    http://www.thespec.com/news-story/72...t-it-on-taxes/

    Information for aboriginal peoples filing returns
    http://www.cra-arc.gc.ca/aboriginalpeoples/

    List of what's new for 2016 for individuals from the CRA site: http://www.cra-arc.gc.ca/tx/ndvdls/t...htsnw-eng.html


    Need tax forms? If you cannot get books and forms from your postal outlet (they did arrive almost two months ago), you can print off forms from the CRA site. http://www.cra-arc.gc.ca/formspubs/t1gnrl/menu-eng.html

    If you are a Canadian living outside of Canada, you still have to file a Canadian tax return reflecting your worldwide income. You may qualify for an income tax credit for income taxes paid in your country of residence.
    http://www.cra-arc.gc.ca/tx/nnrsdnts.../menu-eng.html

    If you have income taxes payable to the CRA, ensure your tax return is filed by April 30, 2017 (the interest clock starts on May 1 for amounts owing).

    By the way, if you are also a US person/resident, your personal tax filing deadline is April 18, 2017. https://www.irs.gov/uac/newsroom/avo...careful-review
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    Mastermind Shwa Girl's Avatar
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    very helpful thread
    thanks
    ticul likes this.
    Ontario votes in 2018. Make your vote count. Remember your hydro and gas bills.

  3. #3
    Smart Canuck
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    We are almost done but won't file until the end of the month as both DH and I owe some this year! He also has to file lots of stuff for the US as he is a citizen there too. Did I mention that March and April are not my favourite months?
    Ciel and ticul like this.

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    Smart Canuck
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    Thanks!
    ROMEO, Ciel and ticul like this.

  5. #5
    Smart Canuck
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    Very good info. Thank you so much..........................
    ROMEO and Ciel like this.

  6. #6
    Dancing bean paste bun Ciel's Avatar
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    Quote Originally Posted by lizzie bargain View Post
    We are almost done but won't file until the end of the month as both DH and I owe some this year! He also has to file lots of stuff for the US as he is a citizen there too. Did I mention that March and April are not my favourite months?
    You and DH must be really knowledgeable about the various forms for both tax systems by now!
    lizzie bargain likes this.
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