Frequently Ask Questionsfiller

ABOUT US


1. When is your office open?

The answer depends on the time of the year:

February 15 – May 1 is High Tax Season

May 2 – June 15 is Regular Tax Season

June 16 – February 4 is Off Season.

Click here for our hours of operation.



2. What documents do I need to bring to get my income tax return?


Typically, you need all receipts for your income, such as T4, T4A, T4(OAS), T4(RSP) T3, T5, T5018, etc. You should also bring your T2202A if you paid tuition fees. Other information required includes:

  • Medical expense receipts
  • Public transit passes
  • Donation receipts
  • Child care expenses
  • Spouse’s or common-law partner's income information (if applicable)
  • Notice of Assessment from previous tax year (in order to
    get the RRSP, TFSA, and tuition limits)

This is just a brief list. If you have complicated forms of income
(such as capital gains, investment property, or business income)
give us a call first.



GENERAL TAX QUESTIONS


1. What happens if I file my taxes late?


If you owe income taxes, you will be charged

  • 5% of the balance owing
  • 1% of the balance owing, each month, up to 12 months

The penalty will be higher if you have filed late in any of the
past 3 years!


2. How long should I keep my income tax records?


Generally speaking, the CRA says you should keep your income
tax returns, tax receipts, and Notices of Assessment for 6 years.
We recommend at least 7 years, especially for tax shelter and
capital loss situations.


3. What tax credits will I receive? When?


The federal and provincial governments give us several tax credits
and benefits. These include:


Benefit
Description
Eligibility
Payments
Income Threshold
Ontario trillium benefit
(OTB)
To help us transition into the new HST tax. Only for one year. Must file 2009 and 2010 tax return
18+ years old, or
Married, or
Living common-law, or
Have a child under 18
June 2010
December 2010
June 2011
Maximum amount:
Singles: $100 each date
Families: $330 for June, $335 for Dec. and June 2011
Singles:
$82, 000
Families:
$166,600 (for first payment)
$166,700 (for last two payments)
Ontario HST Credit
Helps individuals and families with low-to- modest incomes offset all or part of the GST/HST they pay
Resident of Canada, and:
19+ years old, or
Are ( or was) married or living common-law
Are (or was) parent of child and live (or lived) with the child
July 5
October 5
January 5
April 5
Maximum amount:
Singles:
Depends on children:
0:   $250/year
1+: $250/year and
$131/year/child
Families: $500/year, and
$131/year/child
Singles:
Depends on children:
0: $40,126
1: $45,126
2: $47,746
3: $50,366
4: $52,986
Families:
Depends on size of family
0: $42,506
1: $45,126
2: $47,746
3: $50,366
4: $52,986
Ontario Sales Tax Credit (OSTC)
Provides relief to low-to middle-income Ontario residents for the sales tax they pay. Apply for it along with the GST/HST credit on your tax return.
Same as for GST/HST credit, and:
Must be a resident of Ontario on the first day of the issuance quarter (July 1, October 1, January 1)
August
November
February
Maximum amount:
$260 for each child and adult
Decreases 4% of adjusted family net income over $20,000 (singles) and $25,000 (families)
Singles:
$26,001
Families:
Depends of size of family:
2: $38,001
3: $44,001
4: $51,000
5: $57,000
6: $64,000




There are other benefits for children (Ontario Child Benefit) and seniors (Ontario Senior Homeowner’s Property Tax Grant). Please visit the CRA website to get more information: http://www.cra-arc.gc.ca/bnfts/rltd_prgrms/ntr-eng.html#shptg


4. How do I change my address with the CRA?


A. Call 1-877-627-6645

B. Go to My Account

C. Write a letter to the CRA at:


Sudbury Tax Centre

1050 Notre Dame Avenue

Sudbury ON P3A 5C1


Make sure to include your old address and your new address.