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just a quick tax question

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Old Aug 18th 2008 | 10:03 am
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Cool just a quick tax question

hi...if you are employed by company does tax get taken at source...and i so do you still have to complete a tax return.....cheers.
 
Old Aug 18th 2008 | 10:08 am
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Default Re: just a quick tax question

Originally Posted by howardk
hi...if you are employed by company does tax get taken at source...and i so do you still have to complete a tax return.....cheers.
Yes and yes

Employment is taxed based on your personal tax credits applied for. Income from other sources may not be taxed and could affect your marginal rate. After you file your return, declaring all world income, you may find you owe some tax or have some to come back. There seems to be some euphoria about getting a tax refund, cannot imagine why getting your own money back after lending it tax free to the government is so exciting. Also, if you are claiming certain benefits, such as child tax credit, you cannot get this until your return is filed. Everyone has to file a return, employed, the deadline is 4/30, self employed 6/15, although any tax due has to be paid by 4/30 to avoid interest and possible penalties.

Last edited by Surrey Expat; Aug 18th 2008 at 10:13 am.
 
Old Aug 18th 2008 | 10:57 am
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Default Re: just a quick tax question

Originally Posted by Surrey Expat
Yes and yes

Employment is taxed based on your personal tax credits applied for. Income from other sources may not be taxed and could affect your marginal rate. After you file your return, declaring all world income, you may find you owe some tax or have some to come back. There seems to be some euphoria about getting a tax refund, cannot imagine why getting your own money back after lending it tax free to the government is so exciting. Also, if you are claiming certain benefits, such as child tax credit, you cannot get this until your return is filed. Everyone has to file a return, employed, the deadline is 4/30, self employed 6/15, although any tax due has to be paid by 4/30 to avoid interest and possible penalties.
hi...thanks for that....so when is the end of the tax year.....cheers
 
Old Aug 18th 2008 | 11:06 am
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Default Re: just a quick tax question

Originally Posted by howardk
hi...thanks for that....so when is the end of the tax year.....cheers
31.12.20xx
 
Old Aug 18th 2008 | 12:39 pm
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Default Re: just a quick tax question

Originally Posted by montreal mike
31.12.20xx
Hmmmm...why the kisses?
 
Old Aug 18th 2008 | 3:13 pm
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Default Re: just a quick tax question

Originally Posted by BristolUK
Hmmmm...why the kisses?
must be a freudian slip
 
Old Aug 19th 2008 | 6:19 am
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Default Re: just a quick tax question

Talking about taxes, if OH works abroad and the family is based in Canada, how is he going to declare his taxes
 
Old Aug 19th 2008 | 6:24 am
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Default Re: just a quick tax question

Originally Posted by calgarylady
Talking about taxes, if OH works abroad and the family is based in Canada, how is he going to declare his taxes
Depends on where he is deemed to be a tax resident.
 
Old Aug 19th 2008 | 7:35 am
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Default Re: just a quick tax question

Originally Posted by Surrey Expat
Depends on where he is deemed to be a tax resident.
True, and if by "family" Calgarylady means wife and kids, then he will most likely be considered tax resident in Canada.
 

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