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Old Feb 22nd 2015, 2:30 pm
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Default Re: filing taxes - T4

Originally Posted by Jsmth321
Employers have until the end of Feb as far as I know to send out the T4's. All my employers wait until the last possible moment to send them out.

It would be nice if the government made them send them out before the end of January so people can file and have more time.
It would be nice if the government paid employers to collect taxes and do all the filing and paperwork involved too!
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Old Feb 22nd 2015, 3:01 pm
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Default Re: filing taxes - T4

Originally Posted by Aviator
It would be nice if the government paid employers to collect taxes and do all the filing and paperwork involved too!
Cost of doing business, but giving employers until the end of February is too long, if US companies can do it by end of January, no reason Canadian companies can't do the same.

Not like these major companies are doing payroll, haven't worked anywhere that didn't outsource to ADP or another company to do it.
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Old Feb 22nd 2015, 3:27 pm
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Default Re: filing taxes - T4

Originally Posted by Jsmth321
Cost of doing business, but giving employers until the end of February is too long, if US companies can do it by end of January, no reason Canadian companies can't do the same.

Not like these major companies are doing payroll, haven't worked anywhere that didn't outsource to ADP or another company to do it.
I guess it all gets passed down to the consumer in pricing anyway.
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Old Feb 22nd 2015, 4:00 pm
  #19  
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Default Re: filing taxes - T4

Originally Posted by JB0591
@beckiwoo, they only want to know about worldwide income since you become a tax resident of Canada. Income prior to become tax resident does not count. Determining residency for tax purposes is based on:

Significant residential ties to Canada include:
-a home in Canada;
-a spouse or common-law partner in Canada; and
-dependants in Canada;

Secondary residential ties that may be relevant include:
-personal property in Canada, such as a car or furniture;
-social ties in Canada, such as memberships in Canadian recreational or religious organizations;
-economic ties in Canada, such as Canadian bank accounts or credit cards;
-a Canadian driver's licence;
-a Canadian passport; and
-health insurance with a Canadian province or territory.
Well I have a driving licence, bank account and MSP (BC health insurance) although for the purposes of 2014 tax year, I didn't have MSP on 31 Dec. However as I am on an IEC and seen as a temporary resident for immigration purposes, I assumed I am a non-resident as I have only been here since September 2014.

Thanks for th info on worldwide income, I'm guessing I can leave that blank then. Got a night shift about to start so I'm going to start working on all this.
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Old Feb 23rd 2015, 12:40 pm
  #20  
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Default Re: filing taxes - T4

Originally Posted by Jsmth321
Cost of doing business, but giving employers until the end of February is too long, if US companies can do it by end of January, no reason Canadian companies can't do the same.

Not like these major companies are doing payroll, haven't worked anywhere that didn't outsource to ADP or another company to do it.
We process for about 2,500 employees, in house. We also have to wait for a CRA update for our system which invariably doesn't arrive and get loaded till first week of Feb.

If it was the law to issue a T4 at the end of January, then all employers would comply. If the employer is given to end of Feb, then that's what they will comply with.

We issued ours today - early by our standards.
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Old Feb 23rd 2015, 2:03 pm
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Default Re: filing taxes - T4

Originally Posted by ann m
We process for about 2,500 employees, in house. We also have to wait for a CRA update for our system which invariably doesn't arrive and get loaded till first week of Feb.

If it was the law to issue a T4 at the end of January, then all employers would comply. If the employer is given to end of Feb, then that's what they will comply with.

We issued ours today - early by our standards.
The government needs to do it so every company gets them out by end of January.

Suppose the government is in no hurry though to refund money.

I've run into the issue of not being able to recall my CRA user name, and they won't let me sign up with another one again, and thus far the phone people haven't been able to help.

May end up filing by paper and mail at this rate.

The worst offender of not getting tax related statements out is the Government of BC, they say sometime in early March as their system has had some issues and they haven't been mailed yet, but they hope next week.
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Old Feb 24th 2015, 10:50 am
  #22  
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Default Re: filing taxes - T4

Originally Posted by Jsmth321
It would be nice if the government made them send them out before the end of January so people can file and have more time.
Says someone who clearly doesn't have to prepare them. It's not practical to have a deadline any earlier than that imo.
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Old Feb 24th 2015, 10:52 am
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Default Re: filing taxes - T4

So on another tax note, is it possible to deduct tax for expenses incurred for work purposes, that weren't reimbursed by your company, I'm thinking safety boots and Toll's? What about service costs if your vehicle is primarily used for work purposes?

I get a car allowance, but this is already taxed.

Also, in the section for child fitness costs, do you have to attach proof of the expense?

I know these are probably noobish and/or totally incorrect, but it's my first go at this lol
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Old Feb 24th 2015, 10:54 am
  #24  
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Default Re: filing taxes - T4

Originally Posted by beckiwoo
So if someone has 3 T4s and transit receipts, is it an easy process or would it be better to get an accountant to do it?
It just means you add up the numbers before you put them in the relevant box. It's not hard.
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Old Feb 24th 2015, 10:58 am
  #25  
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Default Re: filing taxes - T4

Originally Posted by Eddmac
I know these are probably noobish and/or totally incorrect, but it's my first go at this lol
My suggestion would be to read thoroughly the T1 General Guide: 5000-G - General Income Tax and Benefit Guide 2014 - All Provinces Except Non-Residents

I'm afraid there's no shortcut to understanding the tax system.
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Old Feb 24th 2015, 10:59 am
  #26  
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Default Re: filing taxes - T4

Originally Posted by Steve_
My suggestion would be to read thoroughly the T1 General Guide: 5000-G - General Income Tax and Benefit Guide 2014 - All Provinces Except Non-Residents

I'm afraid there's no shortcut to understanding the tax system.
Thanks for the link
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Old Feb 24th 2015, 11:01 am
  #27  
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Default Re: filing taxes - T4

Originally Posted by Jsmth321
Cost of doing business, but giving employers until the end of February is too long, if US companies can do it by end of January, no reason Canadian companies can't do the same.

Not like these major companies are doing payroll, haven't worked anywhere that didn't outsource to ADP or another company to do it.
As Ann pointed out, sometimes you're waiting on the CRA. It's not a good idea to rush into filing your tax return anyway, imo. Frequently there are screw ups. This year it will happen for sure because of the new schedule 1A. And once again they've messed about with T1135.

Bearing in mind you have longer to file than in the US as well by 15 days.
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Old Feb 24th 2015, 11:10 am
  #28  
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Default Re: filing taxes - T4

Originally Posted by beckiwoo
I'm confused about the worldwide income section. Do they want what I earnt in the UK before I arrived as the tax years are different and only have information to hand from April to December 2014. I dont have any properties in the UK and I am not earning any money since I arrived...
Essentially you have to pro-rate the return to the days you were in Canada, which is why they ask the date you arrived on the front of the tax return. This is explained in T4055: T4055 - Newcomers to Canada - 2014

If you haven't worked since you arrived you might not even need to file a return as you may well be below the reporting limit.
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Old Feb 24th 2015, 1:26 pm
  #29  
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Default Re: filing taxes - T4

Originally Posted by Eddmac
So on another tax note, is it possible to deduct tax for expenses incurred for work purposes, that weren't reimbursed by your company, I'm thinking safety boots and Toll's? What about service costs if your vehicle is primarily used for work purposes?

I get a car allowance, but this is already taxed.

Also, in the section for child fitness costs, do you have to attach proof of the expense?

I know these are probably noobish and/or totally incorrect, but it's my first go at this lol
You should ask your employer for a T2200 form. This will detail what you can write off against employment income.
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Old Feb 24th 2015, 3:03 pm
  #30  
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Default Re: filing taxes - T4

Makes you wonder how HMRC basically automated the process...decades ago.
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