Where how and what do i do to get this income tax refund process in canada, im new here.. please help me out?
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ok, i've heard that i have to do an income tax refund some time this month or in april... but im not sure where to start... i go to college and i work aswell... and ive been here in canada since august 2007... so, can someone give me all the details on how to get this process done... or give me a site on where to ask.. cuz i dont know anything about this.. thank you... PS: i didnt immigrate here.. i am a citizen...
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Answer:
There are several ways to file, or at very least, calculate what your tax return would be for 2007. Of those, some such as http://ufile.ca/ have set up promotions with university student unions for free filing. Tax returns should be submitted before April 20. On one hand, - if your income less deductions is under $9600, the government does not charge you tax - you are not obligated to file if you would not owe the government anything On the other, much more beneficial hand, the government will likely give you money if you file a return. Keep in mind that there are various nonrefundable (will bring your taxes to as low as $0) and refundable (will bring your taxes below $0, thus the gov't will send you money) credits for: - university courses - text books, public transit passes - moving to attend school - rent - interest on student debt Because of your income, if you are over 19 the government may also begin sending you GST rebate checks every 3 months throughout the year. As was mentioned, stop by a Post Office or Revenue and Immigration office and pick up a tax return booklet and guide to take a look at what information is needed, or walk through the 'interview' on a tax preparation site. Your best choice may be to bring whatever receipts you have (at least your T4 income slips from your job and T111 from your university) and sit down with a tax specialist. While you will pay roughly $40-100, the first GST rebate check will likely more than cover it.
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Other answers
In general, if you earned income last year, you need to file Income Tax refund by midnight of April 30, 2008. Having said that, if your income is under a certain threshold (somewhere under 9000) you don't need to pay tax. Consider your employer deducted income taxes from your pay and submit on half of you to Revenue Canada. You may be able to get some money back from Revenue Canada if you file your tax return. Also, You don't have to file your Income tax return by April 30 if you don't owe Revenue Canada money. You can get the income tax guide and form from any Canada Post outlet. Good luck!
joe f
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