Tax Time!
Yesterday I filed my taxes through Telefile. I personally love Telefile. Mom got me hooked on it. Much more convenient than throwing stuff into an envelope and mailing it in. Faster also! In the end, the process took me 20 minutes to complete over the phone. If you have never used the telephone to file your taxes AND you don’t bother with filing them through the Internet, then you should try it out! It does involve doing your taxes beforehand though. 😉 It’s not like Quicktax or anything.
Either way, if calculations are correct, I’m getting a cool $1,000 and that’s without any contributions to RRSPs. Nice. I really don’t understand how some people end up paying money. I mean, I understand if an HR section who issues out your paycheques just doesn’t take off enough taxes and then that messes you up, but if everything is on the up-and-up, wouldn’t you generally either hit the zero mark, or get a little refund depending on factors you control (like RRSP contributions, etc.)?
6 replies on “Tax Time!”
I hope this doesn’t completely kill your good mood with telefile, but you can file your taxes online even without Quicktax.
http://www.netfile.gc.ca/
sorry ryan, you were right. In order to use netfile, you need to use software which is “approved” by CRA.
I think having the government of canada encourage the use of third party software from the private sector constitutes as a conflict of interest.
Yeah, I’ve always disagreed with that. While I understand WHY they have to do it (as in, they can’t have some hack just creating a system and you use it to submit), they should create a web-based solution and provide it to Canadians instead of having them purchase the program.
ACTUALLY, what they should have is a 100% rebate program on your taxes if you are filing through Netfile. We are helping them save on manpower by directly inputting it into their systems.
quick question, since you attend classes at night did you claim your tuition? You get some big tax credits for education!
Hmmm…that is a good point Joe. I never realized how many credits I’m getting from the education. I guess that’s how I’m getting a good return!
it works out to be around $1200-$1400 per semester. did you look at how close you were to the tax level you were at?
eg: if you made 74000 but the tax bracket was 72500, if you made a payment to your RRSPs to bring your taxable income back under the 72500 tax bracket you’d pay $600 instead of $750 OHIP surcharge and save more money on the higher taxes you paid in the higher tax bracket