Personal Finance

2016 Tax Season Megathread

  • Last Updated:
  • Apr 20th, 2017 8:26 pm
Deal Fanatic
User avatar
Nov 19, 2004
7125 posts
897 upvotes
Cambridge, ON
JayTee1 wrote:
Apr 17th, 2017 7:02 pm
On the CRA Website under the list of eligible medical expenses for dental care it says: Dental services paid to a medical practitioner or a dentist. Expenses for purely cosmetic procedures are not eligible.

How do we know which dental services are eligible or not?
How do we know which services they consider cosmetic and which services they do not consider cosmetic?

For example, whenever you go to the dentist they'll charge you some kind of exam and diagnostic fee, x-ray fees etc. Are we allowed to submit those fees? or is it only fees that are procedural.

Anyone have any experience with this?
Most routine dental visits are eligible. X rays, diagnosis, scaling, exam are fine. Cosmetics are more along the lines of whitening, inlays, implants when they are for cosmetics and not fixing a problem, etc.

You can claim the expenses you paid out of pocket and are not covered by some insurance or benefits.
Sr. Member
Jan 9, 2011
742 posts
359 upvotes
Vancouver
My wife, a full-time master's student, received a $1400 scholarship from her employer to pay for her program. I understand that scholarships for full time students do not have to be reported as income, so I did not report this amount on her tax return. We already completed and submitted her return.

Taking a closer look today at the T4A for this award, it is coded not as Box 105 (scholarships), but rather as Box 048, "Fees for services—report this amount as business income." CRA of course has a record of this. Could this cause a problem?
Jr. Member
Aug 18, 2007
101 posts
12 upvotes
Vancouver
Hi all. I was hoping if someone could provide me with some information regarding a statement I have received from TD. It's a T5008 / RL-18. My question is do I need to file this on my tax return this year?

I am filing using Ufile and it looks like it's adding to my overall income, which I think is incorrect/unfair. I recognize that the amount was what I had when I changed my mutual funds to another funds. It's an un-registered savings account. The amount is $5xxx, but it is definitely not all gains. Filing this means and not filing would mean a difference of almost $1000 in returns I will get.

Any assistance would be greatly appreciated. Thanks!
Deal Fanatic
User avatar
Nov 19, 2004
7125 posts
897 upvotes
Cambridge, ON
PS_GUY wrote:
Apr 18th, 2017 2:27 am
Hi all. I was hoping if someone could provide me with some information regarding a statement I have received from TD. It's a T5008 / RL-18. My question is do I need to file this on my tax return this year?

I am filing using Ufile and it looks like it's adding to my overall income, which I think is incorrect/unfair. I recognize that the amount was what I had when I changed my mutual funds to another funds. It's an un-registered savings account. The amount is $5xxx, but it is definitely not all gains. Filing this means and not filing would mean a difference of almost $1000 in returns I will get.

Any assistance would be greatly appreciated. Thanks!
This is basically a trading summary that shows the sells. You need to calculate the ACB and determine the capital gains and report those on your return.
Deal Fanatic
Sep 9, 2003
7086 posts
782 upvotes
Burnaby
Quick question. We just started renting out our basement in September, let's say 33 percent of the house for 33 percent of the year

When filling out the form, should I put a prorated property tax and insurance and 66 percent personal, or do I put the entire tax and insurance and 89 percent personal (100 percent for eight months and 66 percent for four months)?

Or does it matter?
Deal Fanatic
User avatar
Nov 19, 2004
7125 posts
897 upvotes
Cambridge, ON
crimsona wrote:
Apr 18th, 2017 10:43 am
Quick question. We just started renting out our basement in September, let's say 33 percent of the house for 33 percent of the year

When filling out the form, should I put a prorated property tax and insurance and 66 percent personal, or do I put the entire tax and insurance and 89 percent personal (100 percent for eight months and 66 percent for four months)?

Or does it matter?
Yes, prorated for time renting.
Sr. Member
User avatar
Apr 26, 2010
570 posts
34 upvotes
Richmond Hill
Question with regards to medical expenses. My health insurance is deducted directly from my pay, is it true that i can expense it?

"Employee-paid premiums to a private health services plan are considered qualifying medical expenses and can be claimed by the employee on his or her income tax and benefit return."
Member
User avatar
Nov 17, 2015
262 posts
48 upvotes
Resolute, NU
I used Simpletax and I can highly recommend it. Quick and easy. (Not affiliated with them in any way).
Newbie
Mar 29, 2017
2 posts
I have a serious problem with the T4 where employer reports my RRSP contribution to Company Group RRSP in box 20 which I also received the slips from the RSP administrator plan for; so as a result it deducts the RRSP I contributed twice. I don't know if CRA catch these kinds of mistakes and if so would my refund now be reassessed and I have to pay it back in the future? Please anyone have similar issue or knowledge about this, let me know what I should do. Thanks so much!
Deal Addict
Jan 22, 2009
2309 posts
448 upvotes
Just got my 2016 NOA and found out I lost all of my province tuition carryover amount because of moving. I had 0 federal tuition carryover amount and 20k province tuition carryover amount. I moved from SK to ab in mid 2016. Cra states since I moved, I need to use my federal amount as my new province amount, which is 0. Ouch! Is there anyway I can fight for it? And in the past years, turbotax always used my federal amount first, then my province amount. Is it possible to use province amount first?
Deal Fanatic
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Jul 17, 2008
7334 posts
1208 upvotes
Can the 5000$ first time house buyer be used in future years like donations? Or does it have to be used in 2016 if the house was bought in 2016?
Deal Fanatic
User avatar
Nov 19, 2004
7125 posts
897 upvotes
Cambridge, ON
kl2017 wrote:
Apr 19th, 2017 2:58 am
I have a serious problem with the T4 where employer reports my RRSP contribution to Company Group RRSP in box 20 which I also received the slips from the RSP administrator plan for; so as a result it deducts the RRSP I contributed twice. I don't know if CRA catch these kinds of mistakes and if so would my refund now be reassessed and I have to pay it back in the future? Please anyone have similar issue or knowledge about this, let me know what I should do. Thanks so much!
Box 20 is for rpp contributions. The RSP administrator should not be sending a slip for those contributions. They would only send a slip for a RRSP plan. So is your plan a pension plan or a RRSP?

It is your responsibility to provide a correct return, so if you deducted contributions twice you should file an adjustment after you receive your assessment. But just to be sure, you have a box 20 amount? A contribution slip? And do you have an amount in box 52?
Deal Fanatic
User avatar
Nov 19, 2004
7125 posts
897 upvotes
Cambridge, ON
Messerschmitt wrote:
Apr 19th, 2017 12:22 pm
Can the 5000$ first time house buyer be used in future years like donations? Or does it have to be used in 2016 if the house was bought in 2016?
Not sure I know what you are asking. The HBP is a withdrawal made from your RRSP to go towards purchasing your first home. It needs to be used for that purchase.

Donation credits are completely different.
Member
Apr 11, 2011
226 posts
44 upvotes
Memramcook
RedLego wrote:
Apr 19th, 2017 12:15 am
Question with regards to medical expenses. My health insurance is deducted directly from my pay, is it true that i can expense it?

"Employee-paid premiums to a private health services plan are considered qualifying medical expenses and can be claimed by the employee on his or her income tax and benefit return."
My health insurance premiums are deducted from my pay. The amount I payed is on my T4 and my software reminded me to be sure to include that amount in my medical expenses.

Bob
Newbie
Mar 29, 2017
2 posts
don242 wrote:
Apr 19th, 2017 12:46 pm
Box 20 is for rpp contributions. The RSP administrator should not be sending a slip for those contributions. They would only send a slip for a RRSP plan. So is your plan a pension plan or a RRSP?

It is your responsibility to provide a correct return, so if you deducted contributions twice you should file an adjustment after you receive your assessment. But just to be sure, you have a box 20 amount? A contribution slip? And do you have an amount in box 52?
Thank you!
I think my plan is a group RRSP and not a pension plan since they don't do defined contribution or defined benefit pension.

Yes, I have box 20 amount, a contribution slip and an amount in box 52 which is the employer contribution's portion (which I also receive the contribution slip for) and this amount is also added to box 14 - employment income. I think as far as box 52 goes, it won't affect my net tax balance and only adjust my contribution room for the year. I guess at this point it is the mistake that the company made based on their incorrect definition of and RPP vs. a group RRSP. But you are right, maybe I should not include that contribution slip in my tax return?

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