Wikiposts

Next tax year

Thread Tools
 
Old Aug 6th 2008 | 7:58 am
  #1  
Sutherlands's Avatar
Thread Starter
Ontario
 
Joined: Oct 2005
Posts: 403
Sutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to beholdSutherlands is a splendid one to behold
Default Next tax year

I know we are not even in the tax part of the year, but I did learn a thing or two and would like to pass it on for you all in the next tax year,

If you have purchased medical insurance for yourself or the family for the first 3 months after landing in Ontario this amount can be set off against your tax but only in that year.

Also the amount you are paying towards your benefits at work can also be offset, even the 20% that you are paying towards a prescription or dental.

Hope this helps some of you, I have found that some of hubbys co-workers never even knew they could claim the amount they paid each pay cheque to wards their benefits.

Sutherlands
 
Old Aug 6th 2008 | 8:17 am
  #2  
G77's Avatar
G77
BE Forum Addict
 
Joined: Sep 2005
Posts: 3,374
From: Windsor, ON
G77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond repute
Default Re: Next tax year

Worth knowing - are there any sites that explain all this (preferrably in laymans terms)?
 
Old Aug 6th 2008 | 8:18 am
  #3  
R I C H's Avatar
Pea Brain
 
Joined: Jun 2005
Posts: 6,005
From: TBD
R I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond reputeR I C H has a reputation beyond repute
Default Re: Next tax year

I purchased a copy of Canadian Taxes for Dummies soon after arriving here. It was a useful companion when starting up a business too.
 
Old Aug 6th 2008 | 8:19 am
  #4  
G77's Avatar
G77
BE Forum Addict
 
Joined: Sep 2005
Posts: 3,374
From: Windsor, ON
G77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond reputeG77 has a reputation beyond repute
Default Re: Next tax year

Originally Posted by R I C H
I purchased a copy of Canadian Taxes for Dummies soon after arriving here. It was a useful companion when starting up a business too.
Thanks, I'll take a look for that when I land....
 
Old Aug 6th 2008 | 8:33 am
  #5  
Banned
 
Joined: Aug 2007
Posts: 1,810
From: New Caledonia
Surrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond reputeSurrey Expat has a reputation beyond repute
Default Re: Next tax year

Medical expenses must exceed 3% of your net income to be claimed. They can be carried forward to next year's return, as long as they still fall into a 12-month period that ends in the tax year when you claim them.

Travel medical can also be claimed.
 
Old Aug 6th 2008 | 10:07 am
  #6  
Analyst for hire
 
Joined: Jan 2007
Posts: 1,698
From: Toronto
Ben W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond reputeBen W Bell has a reputation beyond repute
Default Re: Next tax year

Also surely your three months cover that you purchased before moving cannot be claimed due to them having been paid before you became resident in Canada, and having been taxed in the UK.
 

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices

Copyright © 2026 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.