Tax year 2014

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Old Dec 22nd 2014, 5:40 pm
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Default Re: Tax year 2014

Originally Posted by beckiwoo
for someone with no properties in the UK and not earning money from the UK and just have a 2 jobs here - would the turbotax/studiotax be ok to use - first tax return next year.

I dont understand though why my UK income will be taken into account as I have already been taxed on it in the UK. This means I am going to be taxed again..?
On my first return they wanted my US income, but it didn't change anything, I wasn't taxed on it. I think it may have something to do with tax credits or something, not sure, but CRA wanted the US income, but didn't owe anything at the end and didn't seem to make any difference to the return.

I use Tax Chopper - CuteTax | Canadian Tax Software | Online Tax Software to file my returns, it's free if you make under a certain amount, and very simple to use.
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Old Dec 22nd 2014, 6:01 pm
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Default Re: Tax year 2014

Originally Posted by beckiwoo
for someone with no properties in the UK and not earning money from the UK and just have a 2 jobs here - would the turbotax/studiotax be ok to use - first tax return next year.

I dont understand though why my UK income will be taken into account as I have already been taxed on it in the UK. This means I am going to be taxed again..?
You have to report your world income and can claim a tax credit for any tax you have paid elsewhere. If you owe any additional tax, you pay the difference. you will need a certificate of foreign tax paid, or you could be taxed twice. Your foreign income will push up your total income and may or may not affect your overall tax situation, it may push you up into a higher tax bracket in Canada for instance you you end up owing CRA more.
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Old Dec 22nd 2014, 6:34 pm
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Default Re: Tax year 2014

Originally Posted by Aviator
You have to report your world income and can claim a tax credit for any tax you have paid elsewhere. If you owe any additional tax, you pay the difference. you will need a certificate of foreign tax paid, or you could be taxed twice. Your foreign income will push up your total income and may or may not affect your overall tax situation, it may push you up into a higher tax bracket in Canada for instance you you end up owing CRA more.

P60?? I won't have the orginals of these though, only copies and also these won't come through until after April as the tax year in UK is from April to March.

Not quite sure how I am meant to do this as the one here needs to be done by end of May(?) and I want it out of the way by March...
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Old Dec 22nd 2014, 7:19 pm
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Default Re: Tax year 2014

Originally Posted by beckiwoo
P60?? I won't have the orginals of these though, only copies and also these won't come through until after April as the tax year in UK is from April to March.

Not quite sure how I am meant to do this as the one here needs to be done by end of May(?) and I want it out of the way by March...
I can assure you if they owe you money you needn't worry about the deadline like most, so wait for your P60. I just filed for 2012 & 2013 and they didn't say boo to me, as they owed me money. As with most other people they have to file on time.
This isn't the first time i have filed late and never even so much as had a letter from them.
As from now though i work in an office so i have to file on time in case i owe them lol There must be other truckers on here who can confirm this ?????
You claim $75 per day meal allowance for every full day your in the USA, can't remember what it is for Canada but trust me you wont owe them anything. Talk to an accountant who specialises in trucker accounts and tax !!!!
Ah your not the OP lol so this may not be the same for you.

Last edited by Juggernaut1064; Dec 22nd 2014 at 7:35 pm.
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Old Dec 22nd 2014, 7:34 pm
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Default Re: Tax year 2014

Originally Posted by beckiwoo

I dont understand though why my UK income will be taken into account as I have already been taxed on it in the UK. This means I am going to be taxed again..?
Are you talking about UK income from before you became resident for tax purposes, or income you have received afterwards?
As far as I know you wouldn't be taxed on earnings/income for the year from before you were resident.
We declared them - but not as income (I believe it was for something to do with GST refund or something. We weren't entitled to anything anyway). (Someone jump in and correct me if I'm wrong).
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Old Dec 22nd 2014, 8:00 pm
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Default Re: Tax year 2014

Originally Posted by scotdownunder
Are you talking about UK income from before you became resident for tax purposes, or income you have received afterwards?
As far as I know you wouldn't be taxed on earnings/income for the year from before you were resident.
We declared them - but not as income (I believe it was for something to do with GST refund or something. We weren't entitled to anything anyway). (Someone jump in and correct me if I'm wrong).
Yes, you only pay tax in Canada on foreign income you earned after you became tax resident. As you say, they ask as some credits/benefits are based on annual income, as is your entitlement to a full or prorated personal amount.
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Old Dec 22nd 2014, 8:03 pm
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Default Re: Tax year 2014

Originally Posted by JonboyE
Yes, you only pay tax in Canada on foreign income you earned after you became tax resident. As you say, they ask as some credits/benefits are based on annual income, as is your entitlement to a full or prorated personal amount.

That's great. I haven't earnt any money in the UK since I have been here. Sorry I've hijacked this thread as its for truckers and I'm not one lol but thanks for the info
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Old Dec 22nd 2014, 8:04 pm
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Default Re: Tax year 2014

for the original poster, this is NOT the company i work for but some useful info on this link for truckers tax.

Taxes for Truck Drivers: Don’t Forget Your Meal Allowance and Employment Expenses | Len Dubois Trucking | Winnipeg Trucking Company
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Old Dec 22nd 2014, 10:23 pm
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Default Re: Tax year 2014

Originally Posted by beckiwoo
P60?? I won't have the orginals of these though, only copies and also these won't come through until after April as the tax year in UK is from April to March.

Not quite sure how I am meant to do this as the one here needs to be done by end of May(?) and I want it out of the way by March...

Has tax deadline been moved or have I just been confused all these years? The deadline is April 30th isn't it?

Not that I care, I file as early as possible to get my refund, but just curious as this is the 2nd time May has been mentioned.
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Old Dec 22nd 2014, 10:54 pm
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Default Re: Tax year 2014

Originally Posted by Jsmth321
Has tax deadline been moved or have I just been confused all these years? The deadline is April 30th isn't it?

Not that I care, I file as early as possible to get my refund, but just curious as this is the 2nd time May has been mentioned.
April 30 for employees and June 15 if you have self employment income. Although any tax owed has to be paid by April 30 to avoid interest.
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Old Dec 22nd 2014, 11:21 pm
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Default Re: Tax year 2014

Originally Posted by Jsmth321
I use Tax Chopper - CuteTax | Canadian Tax Software | Online Tax Software to file my returns, it's free if you make under a certain amount, and very simple to use.
Ditto TurboTax. Our household has 5 free returns
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Old Dec 23rd 2014, 2:47 pm
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Default Re: Tax year 2014

this years return will be my first not being a trucker here so not worth using an accountant. Which is the best tax software to use ????
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Old Dec 27th 2014, 5:39 am
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Default Re: Tax year 2014

hey there , i am looking to apply for my tax back in canada , but im also applying for a visa for 2015 , i wondered if applying for my tax back will affect me getting a visa for next year? any infro would be great many thanks nico
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Old Dec 29th 2014, 10:17 pm
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Default Re: Tax year 2014

Originally Posted by Juggernaut1064
for the original poster, this is NOT the company i work for but some useful info on this link for truckers tax.

Taxes for Truck Drivers: Don’t Forget Your Meal Allowance and Employment Expenses | Len Dubois Trucking | Winnipeg Trucking Company
thanks kindly for the link
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Old Dec 31st 2014, 6:55 pm
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Default Re: Tax year 2014

Originally Posted by deerhunter74
I've been in Canada since July when will I have to submit a tax return I'm used to going to an Accountant i have noticed h&r block and have been told to use them , when will I receive my tax return and how long would I have to wait to receive payment I work as a long haul truck driver so I hope to get a good Amount of cash as I had to pay for my own truck training and hotels .
Not to be a party pooper but don't be depending on a refund if you haven't been here a full year. If you get one great, but be prepared for them (Rev Can) to have weaseled their way out of it. Also H&R Block are unlikely to do you a refund right there and then because you're new to the country.

On the other hand, in the second tax return, when you've been there a full year you should get one and H&R block will give you the refund right there (after taking a cut).
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