Tax 2012
#1
Banned
Thread Starter
Joined: Jan 2012
Location: UK/Coaldale/Lethbridge to ?
Posts: 12
Tax 2012
We are looking into doing our own tax returns this yr.
There is a few free programs out there or is it better to buy one
Standard family with kid/s, both parents working.
Is there advantages of paying for a package, its not our first return so dont have to mess with all that this yr.
Brenda
There is a few free programs out there or is it better to buy one
Standard family with kid/s, both parents working.
Is there advantages of paying for a package, its not our first return so dont have to mess with all that this yr.
Brenda
#2
Re: Tax 2012
I think as long as its got the CRA seal of approval it doesnt really matter. It comes down to how convenient is it to use and how do you get along with the interface. The more expensive name brands tend to have a nice slick look to them.
Ive used tax freeway for a few years now, the main reason I go back now is that if I dont I would have to enter all the details again manually in a new package rather than have it load them up from last time, and that would double the time it takes to do my return once Ive gathered all the paper receipts etc together.
I was impressed with it at first because it found me an extra hundred bucks or so over what Ufile calculated, and the taxman has so far let me keep it
Ive used tax freeway for a few years now, the main reason I go back now is that if I dont I would have to enter all the details again manually in a new package rather than have it load them up from last time, and that would double the time it takes to do my return once Ive gathered all the paper receipts etc together.
I was impressed with it at first because it found me an extra hundred bucks or so over what Ufile calculated, and the taxman has so far let me keep it
#3
Re: Tax 2012
Ive used tax freeway for a few years now, the main reason I go back now is that if I dont I would have to enter all the details again manually in a new package rather than have it load them up from last time, and that would double the time it takes to do my return once Ive gathered all the paper receipts etc together.
#4
Joined: Mar 2009
Posts: 1,986
Re: Tax 2012
By the way if using Turbotax, google TD discount. There is usually a link to give 20% off.
#5
Just Joined
Joined: Feb 2012
Location: Ajax, ON
Posts: 3
Re: Tax 2012
I myself had been using TurboTax for years, mainly because they kept automatically billing my credit card and sending it to me. Well this year I've decided to save the $40 and try out StudioTax (which is free). So far the interface doesn't look as polished as TurboTax, but for a simple return it shouldn't be too difficult.
#6
Re: Tax 2012
We are looking into doing our own tax returns this yr.
There is a few free programs out there or is it better to buy one
Standard family with kid/s, both parents working.
Is there advantages of paying for a package, its not our first return so dont have to mess with all that this yr.
Brenda
There is a few free programs out there or is it better to buy one
Standard family with kid/s, both parents working.
Is there advantages of paying for a package, its not our first return so dont have to mess with all that this yr.
Brenda
Does the tax rebate system in Canada work much like that in the U.K? i.e I do my tax return self assessment every April because I am self employed, but the guys
that work directly for a company (P.A.Y.E) tend not to do tax returns?
I will be working directly for a company over there so will I be liable for doing a tax return each year while on a TWP?
Thanks
#7
Re: Tax 2012
Hi
Does the tax rebate system in Canada work much like that in the U.K? i.e I do my tax return self assessment every April because I am self employed, but the guys
that work directly for a company (P.A.Y.E) tend not to do tax returns?
I will be working directly for a company over there so will I be liable for doing a tax return each year while on a TWP?
Thanks
Does the tax rebate system in Canada work much like that in the U.K? i.e I do my tax return self assessment every April because I am self employed, but the guys
that work directly for a company (P.A.Y.E) tend not to do tax returns?
I will be working directly for a company over there so will I be liable for doing a tax return each year while on a TWP?
Thanks
The PAYE system is only as good as the info fed into it at the start of the year, and in my experience if left at the default values it heavily over deducts once you figure out all the deductions you are eligable for, so many employess get a large repayment in the spring.
Of course, there is nothing to stop you filling out the "TD1" forms with larger deductible amounts, but I dont really want to end up owing them a big sum once I do my return either, so its a balancing act to try and set it up to get the smallest rebate you can in order to avoid effectively lending the government a few thousand interest free every year.
#8
Just Joined
Joined: Feb 2012
Location: Ajax, ON
Posts: 3
Re: Tax 2012
Hi
Does the tax rebate system in Canada work much like that in the U.K? i.e I do my tax return self assessment every April because I am self employed, but the guys
that work directly for a company (P.A.Y.E) tend not to do tax returns?
I will be working directly for a company over there so will I be liable for doing a tax return each year while on a TWP?
Thanks
Does the tax rebate system in Canada work much like that in the U.K? i.e I do my tax return self assessment every April because I am self employed, but the guys
that work directly for a company (P.A.Y.E) tend not to do tax returns?
I will be working directly for a company over there so will I be liable for doing a tax return each year while on a TWP?
Thanks
Here is a link to Revenue Canada listing situations you'd have to file a return: http://www.cra-arc.gc.ca/tx/ndvdls/t.../menu-eng.html
#9
Re: Tax 2012
I'd say about 99% of the people in Canada have to file a return.
Here is a link to Revenue Canada listing situations you'd have to file a return: http://www.cra-arc.gc.ca/tx/ndvdls/t.../menu-eng.html
Here is a link to Revenue Canada listing situations you'd have to file a return: http://www.cra-arc.gc.ca/tx/ndvdls/t.../menu-eng.html
#13
Re: Tax 2012
We move over on March 17th - we don't currently have any employment - will we have to file a return for the year?
#14
Re: Tax 2012
You should for 2012 income (in early 2013), because that is what determines what benefits you are eligable for, as well as RRSP headroom and a bunch of other things. And you cant efile until you have sent at least one paper return either.
Last edited by iaink; Feb 10th 2012 at 6:04 pm.