BristolUK

Netfiling open today.
Ours all done

I'm finding that SimpleTax has an edge over TurboTax now.

Former Lancastrian

I find H & R Block OK as its FREE.

BristolUK

So many are.
(or at least have a free option)

scrubbedexpat091

I want to file, but still missing some things, both from a government entity so can't file yet. I use simple tax last year, probably will this year as well, its all the same really, just need a free one.

BristolUK

Isn't there something new now - can't remember what they call it, but it completes from CRA? I had the impression that where you're waiting for whatever T form to come with government income, you can opt to have it self complete or whatever by linking in with the CRA site.

beckiwoo

scrubbedexpat091

Once its issued by the province the statement of benefits will be available on both CRA and provincial accounts but as of this moment, its not yet been issued.

My wife is also waiting for 2 T4's apparently.

I really wish Canada had a January 31 cut off like the US does, I find a lot of time companies/employers etc wait until the last possible day to issue things so often can't file until March.

Rete

We can't file here in the US yet because hubby's T-4 has not been received. Hopefully we will get it before the end of the month.

scilly

I've never counted on being able to file before the end of February, as T4s never used to arrive before then.

I think we do have everything now except for a form from the bank .................... and me getting my act together with sorting out the receipts for the medical expenses that we claim

However, we use an accountant, have done since 1975 .......... we find they've always saved us more money than they cost.

BristolUK

As much as I prefer the UK system - if you can call not having to do tax returns every year a system - there's something quite satisfying about completing it and submitting it over here.

scrubbedexpat091

How does it work?

No deductions or over payment?

I am not sure how employers determine how much to take per check, I fill out the tax forms and claim the deductions on it I am able to, but I still end up over paying by a good amount, not sure how to only pay what I actually need to pay.

BristolUK

There's a code that represents an individual's personal allowance (the untaxed part). Each new employer gets given it when the employee starts work for them.

The employer deducts tax for the amount paid that exceeds that allowance. Most will have just one employer and will work a full year so the deduction for whatever their payment cycle is is right.

If you stop work, you finish with a statement of earnings and tax so far and that goes to the next employer who can then calculate tax deductions for what's left of the tax year. That's in its simplest form.

If there are two employers...say one of them pays well over your personal allowance and the other pays much less...the first employer has a code that tells them to tax on the amount above that allowance. As your allowance is already used up, the second employer can use a different code so you're taxed at the appropriate rate on what they pay.

In my case, I get two small pensions from the UK that technically are taxable but the combined amount is lower than the allowance. Both payers are notified of two different codes that enable them both to pay without making a deduction.

Of course there are some situations where a tax return is needed. In over 30 years I completed three returns - one when I started work, one when I gained an income from a lodger (help with the mortgage in the early days) and one when I left.

Siouxie

I still like StudioTax (and it's free) - they do a Mac version now as well.

CRA Approved Free software: https://www.canada.ca/en/revenue-age...e-program.html

BristolUK

For anyone who thinks the free ones cover basic situations only:

I have done one for my first year here, including some UK earnings.
I've done several years including Rental income in Canada.
Several years of foreign pension.
Pension splitting.
Death of spouse - hers couldn't be netfiled as only part of a year but still done with the online version.
Final year of rental income and sale of the property with capital gains tax possibility.

The free on-line versions all coped easily.

ann m