Almost Canadian

You can't claim it twice.

beckiwoo

Yeah that was what I was asking but I can still claim the other two?

I've changed it for my RRSP and used my last payslip from my other job (because they havnt sent my T4 yet) and based on my estimations I get an ok refund

Almost Canadian

Yes

Steve_

If all you've got is a T4 and a T5, it's super easy to do it using the fillable PDFs off the CRA website. All you do is copy from one box to the other basically and you have to do some very simple math.

Never understand this fascination with TurboTax etc., it was originally invented for the US market where State returns are separate from Federal returns, that's not the case in Canada (except Québec) and there are far less tax credits and so forth you can claim in Canada.

I've never to date used software to do an individual return, although I've looked at a few of them and you still have to work out the numbers to put on the forms (e.g. the ACB for a mutual fund, medical expenses, etc.) so why bother?

If you're self-employed and you feed the numbers in from an accounting program to your T2125 then there might be a point, but that's about the only exception I can think of.

Also, this myth about getting your refund faster - I always get mine pretty quickly.

BristolUK

Do the PDFs enable Netfiling?
Just Netfiled on SimpleTax for my stepson. Less than five minutes, all done. PDF saved. Free.

beckiwoo

I netfiled my tax return with Simple Tax yesterday. So quick and easy.

I checked my CRA account, which said they had received it and I'm due the refund on March 13th (I think)

How long does it take to do the NOA then?

What surprised me was I didn't have to upload any RRSP receipts or T4s. How do they know I'm telling the truth lol?

Hopefully if everything goes smoothly and I get my refund then I will use the software again next year - beats paying someone to do it!

Teaandtoday5

We've had an audit (once in five years) where we had to send receipts for deductions we'd claimed, so maybe they check a selection?

scrubbedexpat091

T4s are reported to CRA by your employer. I would think banks do the same with certain accounts.

For things not reported they could audit you and if they do you best have everything.

Aviator

If what you report does not match what CRA have received from Canadian employers, investments, EI, or other sources of income that report, there are significant penalties, plus interest and the tax due.

beckiwoo

Well its a good job I don't lie bout these things then isnt it!

beckiwoo

The only thing I can think of is my monthly transit passes but I have the receipts anyway just in case. Otherwise its T4s and RRSPs, which you said CRA already have copies of.

JamesM

I'm not sure they allow you to file the first one electronically as I think to do that it requires historic data from previous returns. Double check that as you don't want to get caught out late in the day.

It'll go to the last address your old employer has or if you have an epost account with Canada Post it will go there electronically if that was the method your old employer used to send your pay stubs.

ePost?

I'd approach this one carefully and get professional advice. You are effectively two years passed the submission date.

Yes they do.

scrubbedexpat091

No regular email as a pdf. I cant recall the last time one was sent regular mail.

Not sure what e post is.

BristolUK

My stepdaughter hasn't received her T5 yet, although interest on a TFSA is supposed to be tax free.

Using turbotax which shows the tax refund due "so far" if she enters last year's T5 as if this year's T5, the refund figure falls.

Which kind of looks like the interest is being taxed.

I know there are situations where tax may be due on TFS and perhaps the bank issues a T5 because they may not know if those situations apply, perhaps because of paying in too much using accounts with other banks for example. But if there's only one account reported, why would the refund figure be reduced?

Perhaps if you have one TFSA and you know there are no tax issues on the interest, is it the case that you don't report it?

There is one other possibility - she qualifies for the working income tax credit and the running refund total includes this.

Might it be that the interest incurs no additional tax but as income it reduces the WITC slightly?

JamesM

No problem then.

It makes much more sense in this day and age.