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Income Tax for year 2020

Income Tax for year 2020

Old Feb 24th 2021, 10:09 pm
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Default Re: Income Tax for year 2020

Funny thing...

I do the returns for me, mother in law and stepson. Wealth/SimpleTax invites you to pay what you want including $0 and I have taken to paying on the third one.

It does ask you if you wouldn't mind saying why you selected $0 so I tell them I'll do it on the last one. I usually do SS first - there's no income so it's the easiest and I get to see any changes in the procedure - like this time they were asking for a special number from past assessment notices so we needed to set up a CRA account for him to access that number. As that takes a week or more, his was the last one to be done.

So, paying a reasonable fee for all three meant I paid more than the suggested rate for one. And this qualified for upgrading to the level at which support is provided for more (supposedly) tricky accounts. But as it was his return I was doing it on, it's him that qualifies for support.

For a zero, complication-free, return.

But this might useful for anyone doing multiple returns where they feel a potential complication on one of them. Make that one the one you pay the total on and there's your bonus support if needed.

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Old Feb 24th 2021, 11:52 pm
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Default Re: Income Tax for year 2020

I'd file but I am currently locked out of my CRA account and need access to it to file don't you? I can't remember. But with $0 income no rush, no taxes or refund.
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Old Feb 25th 2021, 12:33 am
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Default Re: Income Tax for year 2020

Originally Posted by Jsmth321
I'd file but I am currently locked out of my CRA account and need access to it to file don't you? I can't remember. But with $0 income no rush, no taxes or refund.
I've never needed access to CRA account to netfile before and I've done several for my stepson who has only just been registered for a CRA account.

This time you need a number from previous notice of assessment - which obviously is available on the CRA site so if locked out you can't get it. It is supposed to be on the same notices if you've been sent one though.

Although this number is asked for, it's not compulsory but it says you won't have access to the 2020 details without it. But I always save a PDF doc so if I need to tell someone a figure, say to get my property tax reduction, I have access to it whether or not CRA is available.
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Old Feb 25th 2021, 1:08 am
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Default Re: Income Tax for year 2020

Originally Posted by BristolUK
I've never needed access to CRA account to netfile before and I've done several for my stepson who has only just been registered for a CRA account.

This time you need a number from previous notice of assessment - which obviously is available on the CRA site so if locked out you can't get it. It is supposed to be on the same notices if you've been sent one though.

Although this number is asked for, it's not compulsory but it says you won't have access to the 2020 details without it. But I always save a PDF doc so if I need to tell someone a figure, say to get my property tax reduction, I have access to it whether or not CRA is available.

I can never remember, but yes without account access there is no way I can access the notice of assessment so if that is needed no way to file yet.. Hoping once the dust settles with the account issues the phone lines will have shorter waits, or maybe I will just mail it in, not too worried, as far as I know other than some credits possibly being delayed, there is no punitive measures when you owe nothing income tax wise.
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Old Mar 2nd 2021, 11:45 am
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Default Re: Income Tax for year 2020

One week on from Netfiling and website shows assessed, available to view on March 4th.
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Old Mar 2nd 2021, 10:57 pm
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Default Re: Income Tax for year 2020

Originally Posted by Jsmth321
I'd file but I am currently locked out of my CRA account and need access to it to file don't you? I can't remember. But with $0 income no rush, no taxes or refund.

I thought CRA was going to send emails or letters to all affected clients to tell them how to regain access.

May I suggest that you might call the CRA if you have not received anything.

If you don't file, you won't get any of the programs, such as GST rebate.
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Old Mar 2nd 2021, 11:04 pm
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Default Re: Income Tax for year 2020

I've discovered a new tax credit, by virtue of ads in the local newspaper.

Apparently the government brought in a new tax credit for people who subscribed to online newspaper(s). I didn't pay too much attention when that was in the news, because I don't subscribe to online, but I do have a subscription to the print edition of the Vancouver Sun, had that since way back in the black ages of the 1960s. In recent years, subscribers to the print edition have also had access to the online version.

It turns out that subscribers like myself are also allowed to claim the tax credit .............. as a result they will be mailing me a tax credit receipt for $14 + tax per month, back dated to January 2010.

I'm waiting for it to arrive ....... and hope our account knows all about this
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Old Mar 2nd 2021, 11:06 pm
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Default Re: Income Tax for year 2020

Originally Posted by scilly
I thought CRA was going to send emails or letters to all affected clients to tell them how to regain access.

May I suggest that you might call the CRA if you have not received anything.

If you don't file, you won't get any of the programs, such as GST rebate.
I haven't received anything in the mail.

I have tried calling but its not an easy task long hold times and their system disconnecting after a couple hours on hold, so I haven't tried again this week, thought waiting might be best as I am sure a boat load of people are calling them for the same reason.

I did stay on the line for several hours last week but after about the 3 hour mark their system disconnects.

I will try again in a couple weeks.

Last edited by scrubbedexpat091; Mar 2nd 2021 at 11:16 pm.
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Old Mar 3rd 2021, 12:21 am
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Default Re: Income Tax for year 2020

Originally Posted by scilly
I've discovered a new tax credit, by virtue of ads in the local newspaper.

Apparently the government brought in a new tax credit for people who subscribed to online newspaper(s). I didn't pay too much attention when that was in the news, because I don't subscribe to online, but I do have a subscription to the print edition of the Vancouver Sun, had that since way back in the black ages of the 1960s. In recent years, subscribers to the print edition have also had access to the online version.

It turns out that subscribers like myself are also allowed to claim the tax credit .............. as a result they will be mailing me a tax credit receipt for $14 + tax per month, back dated to January 2010.

I'm waiting for it to arrive ....... and hope our account knows all about this
It doesn't seem a very exhaustive list of qualifying publiations and seems to be from 2019 only. https://www.canada.ca/en/revenue-age...criptions.html
and
https://www.canada.ca/en/revenue-age...scription.html
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Old Mar 3rd 2021, 2:32 am
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Default Re: Income Tax for year 2020

Originally Posted by BristolUK
It doesn't seem a very exhaustive list of qualifying publiations and seems to be from 2019 only. https://www.canada.ca/en/revenue-age...criptions.html
and
https://www.canada.ca/en/revenue-age...scription.html
According to what the Vancouver Sun has said in its ads, we will get a tax credit receipt dating back to January 2020 ........ sorry, I put the wrong date in that post.

so that would be the whole of last year. It is apparently only going to be paid for 2020-2024

https://vancouversun.com/news/local-...eefd93544/amp/

It's a tax credit, so not sure how much that will turn out to be
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Old Mar 3rd 2021, 12:44 pm
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Default Re: Income Tax for year 2020

Originally Posted by scilly
According to what the Vancouver Sun has said in its ads, we will get a tax credit receipt dating back to January 2020 ........ sorry, I put the wrong date in that post.
Whichever on-line software I've used, there has always been an advance email along the lines of "what's new this year" but seldom having anything new, I've never paid much attention. Ditto when logging in for the new year, I've been aware of new things being highlighted, like the climate action credit.

And now I use the 'jump start' facility where you just visit the parts you did the previous year and put the new figures in.

So, yes, you're right, there's plenty of opportunity to miss something new. I mean, who'd think you could get something back simply from subscribing to a newspaper Maybe there's something to being an old fogey like us

WealthSimple has this to say on it.
8. I heard about something called the digital news subscription tax credit. How do I get it?

In 2019, to promote journalism in Canada, the government introduced this mouthful of a tax credit to benefits. It goes to Canadian digital journalistic organizations that create original written news and to their subscribers. Any Canadian taxpayer who subscribes to a so-called “qualified Canadian journalism organization” (QCJO) can receive a 15% tax credit of up to $300 in subscriptions for the years 2020-2024. (For the math disinclined, that’s a maximum annual credit of $75.) If you’re unsure whether a subscription qualifies, check your receipt — qualifying news agencies must provide their QCJO designation number in every subscription receipt.

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Old Mar 3rd 2021, 5:30 pm
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Default Re: Income Tax for year 2020

Originally Posted by BristolUK
Whichever on-line software I've used, there has always been an advance email along the lines of "what's new this year" but seldom having anything new, I've never paid much attention. Ditto when logging in for the new year, I've been aware of new things being highlighted, like the climate action credit.

And now I use the 'jump start' facility where you just visit the parts you did the previous year and put the new figures in.

So, yes, you're right, there's plenty of opportunity to miss something new. I mean, who'd think you could get something back simply from subscribing to a newspaper Maybe there's something to being an old fogey like us

WealthSimple has this to say on it.
Yes, I paid no attention to the news back in ??2019 about this new tax credit for subscribing to a digital newspaper, because I don't!

I subscribe to the print version, though I know I get the digital version popping up in my mail box ....... I delete it as soon as I see it.

I think I have gone to the e-version once, when I wanted to check something published in the paper several days earlier, and couldn't bothered going downstairs to where we keep the waiting-to-be-recycled stuff!
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Old Mar 3rd 2021, 6:37 pm
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Default Re: Income Tax for year 2020

Originally Posted by scilly
Yes, I paid no attention to the news back in ??2019 about this new tax credit for subscribing to a digital newspaper, because I don't!

I subscribe to the print version, though I know I get the digital version popping up in my mail box ....... I delete it as soon as I see it.

I think I have gone to the e-version once, when I wanted to check something published in the paper several days earlier, and couldn't bothered going downstairs to where we keep the waiting-to-be-recycled stuff!
Yep, that's what I meant.

I don't like the website for our local paper. Not user friendly at all.
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