Revenue Canada

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Heads up, it appears that if you end up paying more than 3K in personal income tax after you're assessed, CRA now wants you to pay the following years taxes in quarterly instalments throughout the year . Good grief......
 
Freddy F said:
Heads up, it appears that if you end up paying more than 3K in personal income tax after you're assessed, CRA now wants you to pay the following years taxes in quarterly instalments throughout the year . Good grief......
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Meanwhile, if you consistently get a refund larger than that, it's hard to adjust how much they are holding interest free.
 
Freddy F said:
Heads up, it appears that if you end up paying more than 3K in personal income tax after you're assessed, CRA now wants you to pay the following years taxes in quarterly instalments throughout the year . Good grief......
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Australia has been doing this for a couple of decades now. It's good for people that can't budget and stash money aside for the end of year hit, but as mentioned, it's also money that can be working for you instead.
 
TK4 said:
There's no URL, just a prompt to go to the CRA site.
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That's a good sign and means it probably is indeed legit.

You need to get a My Account setup. My daughter had similar issues and had to just wait in the painful lineup on the phone to get through to someone, but finally got it done.

The online my account thing is going to be important moving forward...everything is moving online afterall.
 
High Flya said:
AFAIK, .gov.ca IS a scam. CRA website is just part of canada.ca now.
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.Gov is US government.

Canadian government used to be .gc.ca but I think they have mostly moved to canada.ca now. Theoretically .Gov.ca could be anyone as I have no idea who controls that domain (hopefully icann blocked it as an available option if canadian government didnt want it).
 
PrivatePilot said:
That's a good sign and means it probably is indeed legit.

You need to get a My Account setup. My daughter had similar issues and had to just wait in the painful lineup on the phone to get through to someone, but finally got it done.

The online my account thing is going to be important moving forward...everything is moving online afterall.
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When I tried this morning the phone wait was 1.5 to 2 hours. Maybe after the year end crunch I'll try again.
 
TK4 said:
When I tried this morning the phone wait was 1.5 to 2 hours. Maybe after the year end crunch I'll try again.
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It would be hard to find a busier time to call cra. Good luck. Let us know if you end up needing to provide something or if this was just a notification. The last few times CRA has contacted us, I provided the requested documentation within the 30 day window and got back a letter that said no changes required. Trying to cheat the government is a quick path to ruin.
 
@TK4 wow, that's a long wait...I've been calling a lot lately (I filed my taxes on Feb. 27 and they are still showing 'being processed') and I think the most I've had to wait was 30 minutes...but I've been calling in the evenings so maybe that makes a difference...I called once on a Friday and waited something like 5 minutes...I mentioned how fast my call was answered to the agent and he said it's dead on Friday nights, so maybe try then...are you using 1-800-959-8281...make sure you have at least the last 3 years of tax returns handy as they will ask you for various amounts from them...
 
ifiddles said:
@TK4 wow, that's a long wait...I've been calling a lot lately (I filed my taxes on Feb. 27 and they are still showing 'being processed') and I think the most I've had to wait was 30 minutes...but I've been calling in the evenings so maybe that makes a difference...I called once on a Friday and waited something like 5 minutes...I mentioned how fast my call was answered to the agent and he said it's dead on Friday nights, so maybe try then...are you using 1-800-959-8281...make sure you have at least the last 3 years of tax returns handy as they will ask you for various amounts from them...
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Teachers are apparently caught in a death spiral. They rightly applied for some credit that stupid hasn't passed in the legislature yet. Cra is stuck in the middle with tons of submitted applications relying on something that is theory not law. Govt sucks.
 
@GreyGhost I have no idea why the delay...I've been using NetFile for 10+ years and never had an issue...I filed my hubby's taxes 20 minutes before mine and he had his refund the following week...CRA keeps telling me that 5% of returns filed via NetFile get randomly selected for a more thorough review...I did claim the $2/day WFH credit, but then again, I claimed it last year as well and no issues...I did have a large amount of donations, so maybe that was it...who knows...
 
ifiddles said:
@GreyGhost I have no idea why the delay...I've been using NetFile for 10+ years and never had an issue...I filed my hubby's taxes 20 minutes before mine and he had his refund the following week...CRA keeps telling me that 5% of returns filed via NetFile get randomly selected for a more thorough review...I did claim the $2/day WFH credit, but then again, I claimed it last year as well and no issues...I did have a large amount of donations, so maybe that was it...who knows...
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Eligible educator school supply tax credit? I think that is where some problems lie. Incompetent morons.

 
mimico_polak said:
Any free / cheap software? Apparently I’m teaching my 18 year old cousin to do his taxes tonight.
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Turbotax is cheap (~$40?). Can buy at costco or online. If you have a copy for you, you should have lots of extra returns to share the love if you want.

EDIT:
There is a free version of turbotax. I assume his return is simple.

Free Canadian Tax Software | TurboTax® Canada 2021

File your 2021 simple tax return for $0 with TurboTax® Free. Maximum Refund Guaranteed. Our free Canadian tax software makes it easy to file taxes.
turbotax.intuit.ca turbotax.intuit.ca
 
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If anyone is looking for free cloud-based accounting software (not tax) I strongly recommend Wave Accounting. Good for a small business or also your personal finances.
 
Robbo said:
Ufile also has a free version.

I have been using the paid version for the family for as long as I can remember. About $26 tax included for 4 returns + 4 low income returns.


Sent from my iPhone using Tapatalk
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Thanks. Looks like UFILE goes to H&R Block once you start the setup process.
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