Personal Finance

~$10000 in income in 2009 (Ontario), so what about my tax return?

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  • Feb 4th, 2010 7:41 am
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Newbie
May 24, 2008
15 posts
6 upvotes
Richmond Hill

~$10000 in income in 2009 (Ontario), so what about my tax return?

I've Googled but I couldn't find anything specific to my situation, surprisingly.

What is the process for filing an income tax return for a level of income below the taxable level (personal deduction + education deduction add up to a sum > my income last year)?

If anyone could even just point me in the right direction, that would be appreciated.
11 replies
Deal Fanatic
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Oct 23, 2003
8455 posts
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limit used to be 7 k a while back, then they increased to 9k, not sure if they increased to the 10-12 range yet.
Member
Oct 2, 2005
426 posts
44 upvotes
how2redflagdeals wrote: I've Googled but I couldn't find anything specific to my situation, surprisingly.

What is the process for filing an income tax return for a level of income below the taxable level (personal deduction + education deduction add up to a sum > my income last year)?

If anyone could even just point me in the right direction, that would be appreciated.

The process is the same regardless of if your income is low or high.
You may not be obligated to fill in a tax return if you don't owe money, however, you should anyway. You won't get any of the tax credits (GST, HST rebates, etc) unless you fill in the tax return.

You can fill it by paper (get the books from the post office) or you can file it online using a program such as StudioTax, or Quicktax
Member
Dec 29, 2009
297 posts
5 upvotes
mexicanbandit wrote: The process is the same regardless of if your income is low or high.
You may not be obligated to fill in a tax return if you don't owe money, however, you should anyway. You won't get any of the tax credits (GST, HST rebates, etc) unless you fill in the tax return.

You can fill it by paper (get the books from the post office) or you can file it online using a program such as StudioTax, or Quicktax
+1, you also need to a complete tax return to carry forward any unused tuition amounts to the future (given that your income is at about what the basic personal amount for 2009 is ($10,320).

Is this your first time filing a tax return? Did you have education amounts for years before 2009? If so, and you didn't file any returns, you probably will have to amend past returns.
Deal Addict
Aug 13, 2007
1100 posts
34 upvotes
how2redflagdeals wrote: I've Googled but I couldn't find anything specific to my situation, surprisingly.

What is the process for filing an income tax return for a level of income below the taxable level (personal deduction + education deduction add up to a sum > my income last year)?

If anyone could even just point me in the right direction, that would be appreciated.
You will get GST/HST rebate and also rent/property tax rebate ( if you paid any of those ) , even if your income is Zero ( forget just less than $ 10,000 )..and ofcourse you can carry forward your tutition/education cost for future yrs as unused .
Member
Jun 4, 2007
348 posts
7 upvotes
Using the web version of Quicktax is free for anyone under 20k in income. Ignore the prices, when you get to the end it will say you qualify for a free return.

Just collect all your T-slips, sign up and it will walk you through it. It should take someone with a simple return like yours less than half an hour.
Deal Addict
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Sep 26, 2007
3960 posts
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SC
i like ufile.ca it's free for low income earners.

You can probably claim WITB and see a nice refund ;)
Member
May 27, 2007
423 posts
36 upvotes
It would probably be a good idea to file. The benefits (e.g. GST, WITB, RRSP room, etc.) would probably outweigh the time you put in.
Deal Addict
Jun 11, 2005
2823 posts
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TopTaxGuy wrote: You only have to file if you owe the CRA money, they ask you file a return or you have capital gains or losses, if you dispose of capital property, or if the HBP or LLP balance is positive.

If you want to estimate your taxes see one of the tax estimators at http://blog.taxresource.ca/tax-rates/
See corrections above.
Deal Expert
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Dec 11, 2005
20136 posts
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Just use uFile online, it will be free for you since you are under 20K, and it will take you at most 20 mins. If you don't file you will exclude yourself from all kinds of benefits.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings

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