Personal Finance

2016 Tax Season Megathread

  • Last Updated:
  • Oct 1st, 2017 7:11 pm
Newbie
Jun 13, 2016
23 posts
6 upvotes
Hi, I'm a self employed person who files my income under T4A and T2125 as a unincorporated business. Turbotax seems to believe I can claim GST/HST rebates on my expenses but I cannot find a simple answer as to why or how I would go about it. When doing my write offs I simply included the HST with them as they are taxable. If I were to claim the GST/HST components of my expenses separately would that not be double dipping or can I really write off the tax separately on top of the expense itself?
Deal Fanatic
User avatar
Nov 19, 2004
7197 posts
982 upvotes
Cambridge, ON
ottlife91 wrote:
Apr 20th, 2017 9:03 am
Hi, I'm a self employed person who files my income under T4A and T2125 as a unincorporated business. Turbotax seems to believe I can claim GST/HST rebates on my expenses but I cannot find a simple answer as to why or how I would go about it. When doing my write offs I simply included the HST with them as they are taxable. If I were to claim the GST/HST components of my expenses separately would that not be double dipping or can I really write off the tax separately on top of the expense itself?
Are you registered for HST? If so, HST credits are part of your HST return. So on your income tax return you show the expenses without HST.

If you are not registered for HST, then just include the full amount as the expense on your tax return. You are right in that either way, you cannot double dip.
Deal Addict
Nov 24, 2013
4172 posts
1172 upvotes
Kingston, ON
don242 wrote:
Apr 20th, 2017 9:25 am
Are you registered for HST? If so, HST credits are part of your HST return. So on your income tax return you show the expenses without HST.

If you are not registered for HST, then just include the full amount as the expense on your tax return. You are right in that either way, you cannot double dip.
I'd add, if you're not registered for HST, confirm whether or not you have to (generally, gross revenue > $30K/yr).
Deal Addict
Nov 25, 2007
2761 posts
493 upvotes
Toronto
Need some tips for filling out tax for the first time.
- Have a job with T4 slip (filled that out in SimpleTax)
- All investments are in TFSA (so nothing to fill out)
- Bought a house last year (and redeemed the $5000 credit)
- Couldn't find my T5 slips from my bank interests, will this be a problem?

Anything else I can claim?
[OP]
Deal Addict
User avatar
Jul 22, 2015
1778 posts
577 upvotes
Saint-Hubert, QC
Sepharite wrote:
Apr 20th, 2017 8:14 pm
Need some tips for filling out tax for the first time.
- Have a job with T4 slip (filled that out in SimpleTax)
- All investments are in TFSA (so nothing to fill out)
- Bought a house last year (and redeemed the $5000 credit)
- Couldn't find my T5 slips from my bank interests, will this be a problem?

Anything else I can claim?
Bank doesn't always send out slips, it is your responsibility to report the correct amount.
Newbie
Apr 20, 2017
14 posts
5 upvotes
This is my first time doing taxes for myself. I got married last year in July. My wife and myself have a T4 slips and we have been renting a condo since July. My investments are essentially TFSA and my wife has TFSA and RESP. I would appreciate if you guys can give pointers whether this is going to be straightforward or not.

Thanks
Deal Guru
User avatar
Mar 1, 2006
13851 posts
180 upvotes
I used SimpleTax to file my taxes this year. Just received a letter from the CRA asking for backup regarding the medical expenses that I claimed.

The amount being reviewed is from Line 330 which is $7,690. So I went through my SimpleTax filing and added up all my medical expenses line by line and the amount I got was $7,443.79, which is about a $246 difference.

So the number I asked SimpleTax to report was $7,443.79, but they reported $7,690 on Line 330.

So is that number from Line 330 made up of something else as well? Or did SimpleTax report it incorrectly?
2013 Contest Win Wishlist
  • Leafs Tickets / iPad / E-Reader / 46" HDTV / PS3 Gaming System / Cash / Guitar / Keurig
[OP]
Deal Addict
User avatar
Jul 22, 2015
1778 posts
577 upvotes
Saint-Hubert, QC
JayTee1 wrote:
Sep 25th, 2017 9:29 pm
I used SimpleTax to file my taxes this year. Just received a letter from the CRA asking for backup regarding the medical expenses that I claimed.

The amount being reviewed is from Line 330 which is $7,690. So I went through my SimpleTax filing and added up all my medical expenses line by line and the amount I got was $7,443.79, which is about a $246 difference.

So the number I asked SimpleTax to report was $7,443.79, but they reported $7,690 on Line 330.

So is that number from Line 330 made up of something else as well? Or did SimpleTax report it incorrectly?
Do you happen to have any medical expense, such as insurance premium not covered by your employer, on your T4?
Deal Guru
User avatar
Mar 1, 2006
13851 posts
180 upvotes
Yes, I have a Box 85 on my T4 and that amount is $486.94
2013 Contest Win Wishlist
  • Leafs Tickets / iPad / E-Reader / 46" HDTV / PS3 Gaming System / Cash / Guitar / Keurig
[OP]
Deal Addict
User avatar
Jul 22, 2015
1778 posts
577 upvotes
Saint-Hubert, QC
JayTee1 wrote:
Sep 25th, 2017 9:39 pm
Yes, I have a Box 85 on my T4 and that amount is $486.94
Hmm, that is weird as it would usually add the box 85 + all your medical expenses.
Is it possible that you made an error adding everything up? Otherwise, I wouldn't know, maybe someone else could help...
Deal Guru
User avatar
Mar 1, 2006
13851 posts
180 upvotes
MoneyHypeMike wrote:
Sep 25th, 2017 10:30 pm
Hmm, that is weird as it would usually add the box 85 + all your medical expenses.
Is it possible that you made an error adding everything up? Otherwise, I wouldn't know, maybe someone else could help...
Yeah, I triple checked my math before I made the post.

Well if I divide $486.94 by 2, i'm close to the difference. But i'm guessing that isn't it, otherwise you would have advised that.
2013 Contest Win Wishlist
  • Leafs Tickets / iPad / E-Reader / 46" HDTV / PS3 Gaming System / Cash / Guitar / Keurig
Deal Fanatic
User avatar
Nov 19, 2004
7197 posts
982 upvotes
Cambridge, ON
JayTee1 wrote:
Sep 25th, 2017 9:39 pm
Yes, I have a Box 85 on my T4 and that amount is $486.94
It sounds like your actual medical expenses are higher than what you reported as it should be box 85 + expenses. Maybe you determined some of your expenses were not eligible? Be sure you are only adding the portion of expenses that are not reimbursed to you through your plans.

I can't understand how SimpleTax would have added the lines wrong. Very odd.
Deal Guru
User avatar
Mar 1, 2006
13851 posts
180 upvotes
don242 wrote:
Sep 26th, 2017 10:01 am
It sounds like your actual medical expenses are higher than what you reported as it should be box 85 + expenses. Maybe you determined some of your expenses were not eligible? Be sure you are only adding the portion of expenses that are not reimbursed to you through your plans.

I can't understand how SimpleTax would have added the lines wrong. Very odd.
Well I went back and added line by line as to what I told SimpleTax to report, that's how I got the $7443 total. What if it's the other way?

I wanted to claim $7443+$487 from Box 85, which is $7,930, but SimpleTax only reported $7,690?

I still don't know how to explain to the government where that extra $240 came from.

Also, i'm assuming that I don't need to send them my T4 for the Box 85 portion, since I assume they already have a copy? Can someone confirm?

Thanks
2013 Contest Win Wishlist
  • Leafs Tickets / iPad / E-Reader / 46" HDTV / PS3 Gaming System / Cash / Guitar / Keurig
Deal Fanatic
User avatar
Nov 19, 2004
7197 posts
982 upvotes
Cambridge, ON
JayTee1 wrote:
Sep 26th, 2017 8:19 pm
Well I went back and added line by line as to what I told SimpleTax to report, that's how I got the $7443 total. What if it's the other way?

I wanted to claim $7443+$487 from Box 85, which is $7,930, but SimpleTax only reported $7,690?

I still don't know how to explain to the government where that extra $240 came from.

Also, i'm assuming that I don't need to send them my T4 for the Box 85 portion, since I assume they already have a copy? Can someone confirm?

Thanks
I haven't used simple tax so not sure the interface, but if you entered each expense, there must be a worksheet that is generated showing the calculations. Does the worksheet show your total? If so, then check the T4 info is entered correctly. Did you file with a spouse? Maybe you didn't claim the full amount combined and somehow part was put on the spouse's return? Or when you entered them in, do you include dates on the worksheet? Are all the dates within the 12 month time frame? Maybe it is prorate ng you box 85 amount to match the 12 month period you are claiming?

I can't think of anything else off hand.
Deal Guru
User avatar
Mar 1, 2006
13851 posts
180 upvotes
Do I have to submit the documents showing what the insurance company paid and did not pay?

For example, I had an expense of $1800, but only $800 was paid, so I claimed $1000. So naturally on the receipt itself it shows charges for $1800, do they somehow already know how much i've paid? or am i suppose to submit the page that I received back from the insurance company saying how $1000 was upaid.

Thanks
2013 Contest Win Wishlist
  • Leafs Tickets / iPad / E-Reader / 46" HDTV / PS3 Gaming System / Cash / Guitar / Keurig

Top