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ritzz

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  1. She can claim the expenses to come home if the primary reason is so that she can earn employment income. She doesn`t have to change everything but would need to have some way to show she had actually moved - the job would likely give support to that if it is a local one.
  2. First, you have to make sure that there is a Disability Tax Credit certificate in place for you, and know since what year - don`t try any claims until you know the DTC is in place. That is the starting point. If you don`t have on in place, apply for it but it may take some months for an answer. Also, have you made any claim for it in the past years - only try to make changes if you didn`t claim. The fact that you own part of the house does not disqualify him from being able to make a claim. hope that helps.
  3. ritzz

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    As for the refund from 2012, it will come to you if the 2011 hasn't been processed yet. If you want CRA to hold it, indicate to transfer the refund to your 2013 installment account and then once you get assessed for 2011, call CRA to transfer the amount to 2011 (and release any additional amount). that way the payment would be treated as paid with an effective interest date of when the refund was processed and you will save on interest charges.
  4. Overtaxed has now indicated between you claiming 100% of expenses. Don't forget the step of breaking out the personal use before dividing the home office expense. If you each have a separate office in the home, each claim like you are the only one but based only on your own office. If you share one office space, split the office expense between you.
  5. You can't defer the gains in the 2012 return - they are gains in that year. If by the end of 2013, you remain in a net loss position on your total dispositions in 2013, they net loss you have then will be available, then for carry-back to apply against the gains reported in 2012 year. Something to know is that if you didn't pay the amount of tax owing now, when the loss is applied, the tax would disappear but you would still owe interest from the day the tax was due (April 30th, 2013) until the date the request for carry-back of the 2-13 losses is made (which can't be done until your net position for 2013 is reported as part of next year's return. I would enter them as separate entries to simplify knowing how you got to the totals. The ACB (adjsuted cost base) for each is the price you bought them for POD (proceeds of disposition is how much you got for them). POD - fees - ACB= capital gain (loss if negative) and 50% of the capital gain is taxable. Hope that helps.
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