Jump to content
Français

Geo123

Administrators
  • Posts

    2,729
  • Joined

  • Last visited

  • Days Won

    38

Everything posted by Geo123

  1. Hello PeteH, You can refer to the below links. You can also contact the CRA. (1.) T776 Other Expenses https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4036/rental-income.html#P439_45796 (2.) CCA Impact Income Tax Folio S3-F3-C1, Replacement Property Subsections 13(4) and 44(1) permit a taxpayer to elect to defer the recognition of recapture (income) of capital cost allowance (CCA) or capital gains where a property was involuntarily disposed of, or a former business property was voluntarily disposed of, and a replacement property is acquired. Where all the applicable conditions are met, these rules generally allow taxpayers to replace certain property without incurring immediate tax consequences. https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-3-property-investments-savings-plans/folio-3-capital-transactions/income-tax-folio-s3-f3-c1-replacement-property.html
  2. Hello RamboTax, For QC the security option deduction is equal to 50% of the value of the benefit if one of the following conditions is met: The benefit is deemed received for a stock option granted after March 13, 2008, by a small or medium-sized business (SMB) that is an SMB engaged in innovative activities for the calendar year in which the stock option is granted. The benefit is deemed received for a stock option on listed shares granted after February 21, 2017, to an employee of a corporation whose salaries and wages subject to the health services fund contribution total $10 million or more for the calendar year that includes the time the stock option agreement was reached or the time the shares were acquired. If neither of these conditions is met, the security option deduction is equal to 25% of the value of the benefit. https://www.revenuquebec.ca/en/businesses/source-deductions-and-employer-contributions/special-cases-source-deductions-and-employer-contributions-in-certain-situations/taxable-benefits/list-of-taxable-benefits/other-benefits/security-options/deduction-for-stock-options-of-a-corporation-other-than-a-ccpc-or-options-to-purchase-mutual-fund-trust-units/
  3. Hello getsky In the Interview section go to the Dependant's file : Left hand side of Interview : >>Nova Scotia - Children's sports and arts tax credit <NEW]
  4. Hello Alex44, As per the CRA regarding insurance premiums paid : 1.133 Subject to the exception discussed at ¶1.135, paragraph 118.2(2)(q) provides that any premium, contribution or other consideration (including GST, PST, HST and premium taxes) that an individual has paid to a PHSP for that individual, the individual’s spouse or common-law partner, or a member of the household with whom the individual is connected by blood relationship, marriage, common-law partnership or adoption may be an eligible medical expense. See Interpretation Bulletin IT‑339R2 and the webpage Private Health Services Plan. https://www.canada.ca/en/revenue-agency/services/tax/technical-information/income-tax/income-tax-folios-index/series-1-individuals/folio-1-health-medical/income-tax-folio-s1-f1-c1-medical-expense-tax-credit.html Please contact the CRA : 1-800-959-8281 for inquiries related to individuals. Telephone numbers – Canada Revenue Agency / CRA wait times: https://www.canada.ca/en/revenue-agency/corporate/contact-information/telephone-numbers.html
  5. Hello keb, I do not see anything from the CRA that relates specifically to CMHC insurance. You should contact the CRA. Cost of selling your old home includes the following: advertising notary or legal fees real estate commission mortgage penalty when the mortgage is paid off before maturity Cost of buying the new home if you or your spouse or common-law partner sold your old home because of your move. Note The cost of buying your new home includes legal or notary fees you paid to buy your new home, as well as any taxes paid (other than GST/HST) for the transfer or registration of title to the new home. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-21900-moving-expenses/line-21900-expenses-you-deduct.html CRA 1-800-959-8281 for inquiries related to individuals. Telephone numbers – Canada Revenue Agency / CRA wait times: https://www.canada.ca/en/revenue-agency/corporate/contact-information/telephone-numbers.html
  6. Hello QuestionMan99, You can file separately from your father and Netfile, when your father files he can still add you as Dependant but he should not Netfile your return.
  7. Hello CJRed, For before 2021 The CRA "Auto-fill my return" service for 2020 and prior years requires Internet Explorer 11. Internet Explorer 11 is a built-in feature of Windows 10, so there is nothing you need to install. To open Internet Explorer, select "Start" , and enter "Internet Explorer" in Search . Select "Internet Explorer (Desktop app)" from the results. If you cannot find Internet Explorer on your device, you will need to add it as a feature. Select "Start"-> "Search", and enter "Windows features". Select "Turn Windows features on" or "off" from the results and make sure the box next to Internet Explorer 11 is selected. Select OK, and restart your device. NOTE: Internet Explorer can be also found if you click on "Settings" menu of Edge
  8. Hello Serban Popescu, The text will be updated in the next release. Please note that the actual tax return / calculation is correct for Line 31270 Home buyers' amount (maximum $10,000)
  9. Hello ex_brit, Please refer to the Review Page and click on the link(s) where the error occurred.
  10. Hello DeeDee, This could mean you have another account. Please contact UFile Support so we may review the file confidentially. For telephone support, please call: 514-733-8414 or 1-888-633-8414 An agent can review the issue with you. If you prefer, you can also open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us
  11. Hello dragn9, I just tested and could not replicate your issue (Chrome / FF / Edge). Please contact UFile Support so we may review the file confidentially and determine what is causing your issue. You can also open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us
  12. Hello PeteH, Please check with the CRA.
  13. Hello PeteH, You would need both the acquisition cost and disposal amount FMV (Fair Market Value)/ appraisal amount
  14. Hello NDang, You have the option of a Purchased Vehicle (see below #8) or Leased vehicle (see #12) If you are self-employed and need to report expenses for a vehicle in connection with the operation of your business, to enter your expenses, please follow this procedure: 1. On the "Left-side menu on the interview tab", select "Interview setup". 2. On the screen to your right, go to the "Self-employment" group, check the box "Self-employment business income" and then click "Next" at the bottom of the page. 3. Return to the "Left-side menu on the Interview tab" select "Self-employment income", and on the page to your right choose the option that corresponds to your situation. 4. Complete the "T2125 - Business identification" page and click "Next" at the bottom of the page. 5. On the "Income and Expenses" page, enter your information and click "Next" at the bottom of the page. 6. This will bring you to the "Motor Vehicle expenses" page, where you may choose the appropriate option. 7. Enter the information pertaining to the vehicle and choose the appropriate option from the drop-down menu for the line "Level at which the expense is claimed", choose the "Business expenses" option. However, note that you could choose another option. 8. If you have opted for a purchased vehicle and it is the same vehicle as the previous year, on the line "Opening balance of the undepreciated capital cost" enter the UCC which you will find in Area A of Form T2125 in column 10 of your tax return of the previous year. However, if this is the first year of use of this vehicle for business purposes, do not enter an amount on this line. Go to the line "Amount of capital additions" instead and enter the fair market value (FMV) of the vehicle. 9. For a purchased vehicle, on the line "CCA class of the vehicle" select the class of your purchased vehicle from the drop-down menu. The CRA considers that a vehicle with a cost that is less than $30,000 before taxes is Class 10 and other vehicles are considered Class 10.1. 10. To determine the part of the expenses applicable to your business, enter the "Kilometres travelled for business or work" and the "Total kilometres travelled". 11. Then, enter the motor vehicle expenses you have incurred. 12. If you have a leased vehicle, it is important that you complete the leasing cost section appropriately. NOTE: For Quebec residents, if you have entered an expense for short-term rental due to maintenance or repairs or other circumstances, please follow the instructions: a. On the line "Short term car rental fees (100%)", enter the amount you are claiming for the federal. For Quebec, click the "Maple leaf" icon and enter $0,00 in the new field. b. Return to the line "Maintenance and repair for the year". You probably entered an amount for the maintenance or repair; otherwise enter $0,00. Click on the "Maple Leaf" icon, and in the field for Quebec, add your short-term rental costs to the cost of maintenance and repair. For more information on business expenses, please visit the following links from the CRA: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/sole-proprietorships-partnerships/business-expenses.html https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4002.html For residents of Quebec, please consult the guide "Business and professional income" by clicking on the following link: https://www.revenuquebec.ca/documents/en/publications/in/IN-155-V%282017-11%29.pdf The program will carry over the vehicle expenses to lines 9281 and 9936 of federal form T2125, as well as to lines 220 and 240 of Quebec's TP-80. NOTE: We suggest that you keep a record for each year that you claim expenses. Mainly for registering the use of your vehicle, this record must show both the total kilometres you drove and the kilometres you drove for business purposes.
  15. Hello Clearwater Regional FCSS, In order to access your clients’ information, you must have submitted an authorization request to the CRA which is signed by the client prior to attempting to download their information. Your authorization must be up to date in the current year, that is 2022. You cannot use an authorization from a prior year to EFILE a tax return.
  16. Hello PeteH, It would best to contact the CRA and confirm with them. For example there are the following potential items with emigration : *Departure tax When you leave Canada, you are considered to have sold certain types of property (even if you have not sold them) at their fair market value (FMV) and to have immediately reacquired them for the same amount. This is called a deemed disposition and you may have to report a capital gain (also known as departure tax). Form T1161, List of Properties by an Emigrant of Canada *If the total FMV of all the property you owned when you left Canada was more than $25,000, complete Form T1161, List of Properties by an Emigrant of Canada.: https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t1161.html https://www.canada.ca/en/revenue-agency/services/tax/international-non-residents/individuals-leaving-entering-canada-non-residents/leaving-canada-emigrants.html#dptx To contact CRA : 1-800-959-8281 for inquiries related to individuals. Telephone numbers – Canada Revenue Agency / CRA wait times: https://www.canada.ca/en/revenue-agency/corporate/contact-information/telephone-numbers.html
  17. Hello DeeDee, If you are using UFile ONLINE be sure you are using the correct username. If using UFile Windows then you should locate the *.u21 file and open it using UFile Windows 2021, which would be installed on your computer.
  18. Hello PeteH, You could get an appraisal. Here is a link for the association in Ontario https://www.aicanada.ca/province-ontario/ontario/
  19. Hello Alex44, Enter to medical expenses [Date - Private health services plan premium] - [$Amount] Note Employee-paid premiums to a private health services plan are considered qualifying medical expenses and can be claimed by the employee on their income tax and benefit return. https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/private-health-services-plan-premiums.html
  20. Hello ttplaya, Yes, thank you. Received and thank you for the suggestion.
  21. Helo Alex44, You should contact either AirbnB or the CRA : 1-800-959-8281 for inquiries related to individuals. Telephone numbers – Canada Revenue Agency / CRA wait times: https://www.canada.ca/en/revenue-agency/corporate/contact-information/telephone-numbers.html
  22. Hello zig, Glad it worked out and thanks for the explanation. You are welcome.
  23. Hello zig, Please contact UFile Support so we may review the file confidentially. Open a request ticket and submit an anonymous file for review on-line at https://www.ufile.ca/contact/contact-us Please include the above text in your request and indicate Attn Geo
  24. Hello SundownsFinish, Try this link with the MSI installer. UFile 2022 => https://cdn.ufile.ca/ufile/UF2022AMGH48YHVNENB238L3C9T3Z/ufile2022.zip
  25. Hello Alex44, ON479 - Ontario staycation tax credit The GST / HST number is a required field for the Ontario Staycation credit as per the CRA. The accommodation expenses must have been paid by you, your spouse or common-law partner, or your eligible child, as set out on a detailed receipt provided by a supplier registered for the Goods and Services Tax (GST)/Harmonized Sales Tax (HST). https://www.ontario.ca/page/ontario-staycation-tax-credit#section-4
×
×
  • Create New...