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Mero

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  1. Hi, As a Sole Proprietorship, Is their a Maximum or Reasonable Number or Percentage of the Expenses I can claim on my T2125 Since it's the 1st Year for my Business! I've a lot of Expenses! But if your have an idea of reasonable amount or percentage i can claim under the expenses section it will be helpful?! Thanks...
  2. Hi Andre, Based on:- Schedule B – Tax Relief Measures (PDF, 65 KB)if the total Medical Expense is lower than 3% of the Total Family Net Income, so the claim is ZERO to Quebec! Please go through and confirm to me! Regards, Mero...
  3. Mero

    T4A Box 118

    May be this will help! T4A slip - Box 118 - Medical premium benefits You have received an T4A slip with an amount displayed in Box 118 regarding medical premium benefits of a previous job. To report this amount, please follow the steps below: 1. In the "QuikClik Navigator", on the left-hand side of the screen, click on "Interview setup". 2. On the right-hand side of the screen, check the box for "Pension income and split pension income (T4A, T4(OAS), T4A(P), T4A-RCA, T4RSP, T4RIF, T1032)" and click on "Next" at the bottom of the page. 3. Return to the "QuikClik Navigator" and click on "Pension income, T4A, split pension". 4. On the new page generated on the right, click on the first line entitled "T4A - Pension, retirement, annuity, and other income". 5. On the new page that appears, in the "Other information" section, choose the line "(118) Medical premium benefits" in the drop-down menu. The amount will be entered by the program on line 104 of the federal return (Other employment income) and, for Quebec residents, on line 107 of the Quebec return with code 05 displayed on line 106.
  4. Mero

    Maximum Refund!

    Thanks for your kind reply! Is their a chance to get more explanation?
  5. That's because of the rates are not fixed for all the income! For example for federal 2015 the rates are:- 15% on the first $44,701 of taxable income, + 22% on the next $44,700 of taxable income (on the portion of taxable income over $44,701 up to $89,401),+ 26% on the next $49,185 of taxable income (on the portion of taxable income over $89,401 up to $138,586), + 29% of taxable income over $138,586.
  6. Point Number 1 from my little experience! Since your answer in the below question is NO, so you have to include an income for your spouse, otherwise answer YES.
  7. Mero

    T2202a

    Since the system is not allowing more than one! WarningYou cannot add any more instances of Tuition, education and textbook amounts* (line 323) maximum :1 I believe that you can add the Sum of them in one form. Waiting the experts to confirm!
  8. Mero

    Maximum Refund!

    Hi, Is their a cretin Percentage or Value of what is the Maximum refund i can get from my Tax return?
  9. Hi, Reference to the below information:- http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns206-236/220/menu-eng.html Their is no chance to claim a Support Payment i made for my parents who is not living in Canada? Or their is a chance for that?
  10. Hi, Just to understand! It's mean that:- 1. If my employer made the right exact payroll deduction. 2. I've no expenses to add line child care or medical expenses. I could get ZERO $ refund in my tax return?
  11. Mero

    Medical Expense Transfer

    Thanks, You're right! Attached screen as a supporting. https://drive.google.com/open?id=0BxKpnlb-jaH0ZmxMaGdFU2lLeEE&authuser=0
  12. Hi, Manually calculation showing that the 3% of the net income for my spouse is lower than me. And less that our Medical Expenses. The system still claiming the Medical Expenses under my name! How to force the system to calculate it under my Spouse Name?
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