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Re: Tax Returns - Canada
Originally Posted by JonboyE
(Post 11644788)
Because, when a person tries to file a return on-line, the CRA's system does some data matching to verify the identity of the filer. One example is it checks if the date of birth on the tax return is the same as the date of birth they have recorded against the filer's SIN number. If they cannot complete this verification they will reject the file.
Most Canadian children's SINs and dates of birth are in the CRA's system as their parents claimed them as dependents on their tax returns. Therefore most Canadian children can file their first returns on-line. New immigrants cannot. |
Re: Tax Returns - Canada
Originally Posted by Marko86bfc
(Post 11644090)
Wow never imagined it would take so long and im in Canada too.
Oh well sounds like its the ordinary then. |
Re: Tax Returns - Canada
We filed about 6 weeks ago by paper for our first return. I was hoping to see our refund sooner than later but I guess I was too optimistic!
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Re: Tax Returns - Canada
Originally Posted by Bella Cullen
(Post 11656308)
We filed about 6 weeks ago by paper for our first return. I was hoping to see our refund sooner than later but I guess I was too optimistic!
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Re: Tax Returns - Canada
It does get faster once you are in the system ........... although that is no consolation to you right now!
We went to our Financial Advisor's office on April 29 to sign the necessary forms, and our refunds were deposited in our bank account on May 7th Interestingly though, we did not get any notification of the refunds going in, and only got the Notices of Assessment today ........ they were sent first to the Financial Advisor (stamped received May 13) who checked the figures out carefully before forwarding on to us, mailing date last Thursday. Thar's the first time in about 47 years of filing that we haven't received the NOA very close to the refunds going into the bank. |
Re: Tax Returns - Canada
Originally Posted by scilly
(Post 11656443)
It does get faster once you are in the system ........... although that is no consolation to you right now!
We went to our Financial Advisor's office on April 29 to sign the necessary forms, and our refunds were deposited in our bank account on May 7th Interestingly though, we did not get any notification of the refunds going in, and only got the Notices of Assessment today ........ they were sent first to the Financial Advisor (stamped received May 13) who checked the figures out carefully before forwarding on to us, mailing date last Thursday. Thar's the first time in about 47 years of filing that we haven't received the NOA very close to the refunds going into the bank. |
Re: Tax Returns - Canada
I don't understand the joy some folks seem to get from getting a tax refund. It is a refund, you are getting your own money back, money that you need not have paid the government in the first place. You get no interest, the govt gets money interest free!
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Re: Tax Returns - Canada
Hi guys, received an email that I will be able to view my Notices of Assessment online on Thursday. Does anyone know whether I will be receiving the refund around this time or does it still take some time after receiving this also?
Thanks |
Re: Tax Returns - Canada
Originally Posted by Aviator
(Post 11657019)
I don't understand the joy some folks seem to get from getting a tax refund. It is a refund, you are getting your own money back, money that you need not have paid the government in the first place. You get no interest, the govt gets money interest free!
Both of us got large refunds this year, due to two somewhat unusual factors ......... 1. Medical expenses not covered by Pharmacare, Extended Health or Dental Insurance. This expense happens every year, but the amount varies. This year, they were particularly high. So far as I know, it is stupid to reduce the amount of tax taken from our pensions on the off chance that we will have really high medical expenses every year 2. We sold our vacation property in March last year, and are carrying the mortgage for 2 years. We sold for more than we originally paid, but the capital gain and the interest part of the mortgage payments were balanced off against the amount we had spent on major structural repairs. The interest on the mortgage will count as income in the next 2 income years. I don't like to get the huge amounts we got this year ......... but I do prefer to get a small refund back rather than have to write yet another cheque to the government |
Re: Tax Returns - Canada
Originally Posted by Aviator
(Post 11657019)
I don't understand the joy some folks seem to get from getting a tax refund. It is a refund, you are getting your own money back, money that you need not have paid the government in the first place. You get no interest, the govt gets money interest free!
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Re: Tax Returns - Canada
Originally Posted by Bella Cullen
(Post 11657360)
The joy is that you *could* have owed money to them instead! I think it's especially joyful as you rarely get a tax refund in the UK if you are on PAYE and haven't had a break in employment.
Do you not get deductions in the UK for things such as medical expenses over 3% of your net income, donations, membership in professional societies / unions, cost of attending an annual meeting of a professional society, cost of uniform if you have to supply one, child care costs, etc??? |
Re: Tax Returns - Canada
Originally Posted by Bella Cullen
(Post 11657360)
I think it's especially joyful as you rarely get a tax refund in the UK if you are on PAYE and haven't had a break in employment.
Originally Posted by scilly
(Post 11657398)
Do you not get deductions in the UK for things such as medical expenses over 3% of your net income, donations, membership in professional societies / unions, cost of attending an annual meeting of a professional society, cost of uniform if you have to supply one, child care costs, etc???
I don't know how charitable donations work here but in the UK you can pay the after tax rate (if I can call it that) so you're still not overpaying tax that has to be claimed back. I have two sources of income in the UK and the Tax Office does something with my tax code so that both paying bodies get my tax right when they pay the income. :) |
Re: Tax Returns - Canada
Originally Posted by Aviator
(Post 11657019)
I don't understand the joy some folks seem to get from getting a tax refund. It is a refund, you are getting your own money back, money that you need not have paid the government in the first place. You get no interest, the govt gets money interest free!
And they do pay interest if it's outside normal processing times, I got 1 cent of interest on a $200 refund a few years ago. |
Re: Tax Returns - Canada
Originally Posted by scilly
(Post 11656443)
It does get faster once you are in the system
With new filers they have nothing to refer back to, so I would have thought it's pretty quick actually. |
Re: Tax Returns - Canada
Originally Posted by BristolUK
(Post 11657446)
That's because they get it right the first time. ;)
They make mistakes also: HMRC tax error could affect up to 15 million | Money | The Guardian |
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