The Tax Preparation Blog

Posts Tagged ‘cra’

Second Cup Income Fund Announces Second Quarter Results and July Distribution

MISSISSAUGA, ONTARIO– – Second Cup Income Fund reported today financial results for the second quarter ended June 30, 2010, and the approval of the July distribution payment. The Fund’s units are traded on the Toronto Stock Exchange under the symbol “SCU.UN”.

Ignatieff would cancel tax cuts to pay for new spending priorities

Question: Filing income tax in Quebec?

Regarding filing taxes with Revenue Canada:
I’m filing my taxes online; must I enter both my T4 and Relevé 1 forms? (It asks me which forms I need; T4 and RL-1 are seperate checkboxes). I originally filed my taxes with just my T4 and ended up with a very low return, and after entering the RL-1 it more than doubled. I’m worried I’m just filling in the numbers twice.

Regarding filing taxes with Revenu Quebec:
I am a Manitoba resident living in Quebec since July 2008. Therefore, I imagine I am not yet a “QC resident” as I have not lived here for a full year. I resided here Dec 31 2008; must I file taxes with Revenu Quebec as well?

Answer: You are a resident of the province where you lived on 31 December. If you are a resident of Quebec you must file a TP-1-D-V

http://www.cra-arc.gc.ca/formspubs/t1gnrl/menu-eng.html

“Select the province or territory in which you resided on December 31, 2008.”

T4s are given by employers outside Quebec, RL-1s are given inside Quebec. You enter both forms on your T1 AND the TP-1-D-V

Abbott takes axe to Rudd’s ‘bureaucracy’

A Coalition government would stop holding community cabinet meetings and scrap Australia’s bid for a seat on the United Nations Security Council as part of a $1.2 billion package of spending cuts announced today.

Recuperate all your Income tax money from the CRA – Tax Refund

Question: How can I get the lien on my Canadian income tax lifted?

For the past 2 years my income tax refunds have been immediately transferred to help cover my Ontario Student Loan debt. I don’t dispute that I have student loan debt, and I am making payments to get rid of them. This year will likely be rather difficult for my family financially. I am the sole provider for 4. We really need my income tax refund. I took 3 courses last year to improve my professional development, and I should receive the bulk of the costs back. I have heard that getting such liens lifted is possible, however I cannot find an address or contact number to call. I’ve written a detailed letter to the Canada Revenue Agency, but I don’t know where to send it. Any help would be greatly appreciated!

Answer: Send the letter to the same address you file your taxes. You should already have your tax return form, and there is information on how to contact them included in the first pages of the instruction book.

Dodge Says Canada More Prepared for Dollar at Parity (Update1)

March 18 (Bloomberg) — Canadians are more prepared for their currency to reach parity with the U.S. than they were a few years ago, former central bank governor David Dodge said.

First CO2 Carbon Taxes Invade Canada…

Another week of GW News, January 17, 2010 [A Few Things Ill Considered]

Logging the Onset of The Bottleneck Years This weekly posting is brought to you courtesy of H. E. Taylor . Happy reading, I hope you enjoy this week’s Global Warming news roundup Read the rest of this post… | Read the comments on this post…

GLOBAL WARMING CON – 6 (WE ARE CHANGE Ottawa)

Question: In WA, does the spouse need to claim child support on her taxable income?

Child resides with the parent receiving the child support in WA, who has the child more then 50% of the time. Father is not a resident of WA but Canada and did not claim payments on taxes. Payments were not court ordered, does anyone need to file the expenses/income for a tax adjustment?

Answer: The fact that you live in Washington is irrelevant. Child support is never taxable or claimable as a deduction. This is because the money is technically for the child, and parents supporting their child is not taxable.

This is different from alimony, where the money is for the ex spouse.

Wells Fargo Reports Record Full Year Net Income

SAN FRANCISCO—-Wells Fargo & Company :

Section 160 of the Income Tax Act (Canada)