Personal Finance

2016 Tax Season Megathread

  • Last Updated:
  • Apr 20th, 2017 8:26 pm
Deal Addict
User avatar
Dec 21, 2009
1301 posts
83 upvotes
Niagara Falls
I did my taxes online, as usual, and my CRA login states "assessed" beside my 2016 return. What it doesn't say is "***$ will be direct deposited into your bank account on: ..." which it has always done once it's been assessed. Does anyone know when I should expect my direct deposit?
[OP]
Deal Addict
Jul 22, 2015
1042 posts
308 upvotes
Saint-Hubert, QC
Nurse2B wrote:
Mar 6th, 2017 9:47 am
I did my taxes online, as usual, and my CRA login states "assessed" beside my 2016 return. What it doesn't say is "***$ will be direct deposited into your bank account on: ..." which it has always done once it's been assessed. Does anyone know when I should expect my direct deposit?
Check the column "Date processed" on the right.
Jr. Member
Jan 18, 2016
114 posts
7 upvotes
Toronto, ON
What software is the majority going with?

I have been using an accountant for years now, but I am thinking of doing my own taxes this year. I have a rental property, regular work income (T4), and some interest earned by banks (T5). I do not see a reason for the accountant.
Newbie
Apr 3, 2006
50 posts
Toronto
Ok, I have to admit I make a "stupid" mistake with my wife tax return.

when everything done by using studio Tax, and before transmit it to CRA; I was asked is this first time report tax return, I don't know why but I chose "YES".

Of course, my wife has more than 15 years and more than 10(?) year use Netfile.

Any thing I need to correct? my return "accessed" right after it submit; but my wife is in "IN process" stage.

thank.
Deal Addict
User avatar
Dec 4, 2007
2399 posts
434 upvotes
Quebec
p0nk1n wrote:
Mar 6th, 2017 9:38 am
Hi guys just thought i'd give my opinion to help people decide the software they want to use. I file my taxes for my wife and I and we have two kids, 15 months old and 3.5 years old. We don't have anything complicated for our taxes. T4, T4E for daycare, RRSP, and couple of other stuffs for Quebec (Releve 1, 19, 24). StudioTax was complete garbage. I didnt even bother to finish because there were so many bugs and i really disliked the interface... Looked like Windows 95. SimpleTax was great and easy. I recommend it. Since it was my first time with simpletax I wanted to double check with a software I used before and I trust. So I bought turbotax and it worked like a charm. Really like the interface and I like the fact that it compares all your numbers with the previous year (of course you need to have used the software the previous year for that feature). Exemple it says RRSP contribution 7% more, taxes paid 4% more etc etc.

I only have 1 cent (0.01$) difference between the two. TurboTax gave me one more cent yay!

So overall I recommend SimpleTax and TurboTax. Both very easy and effective.
witch one is cheaper? for a simple quebec, 1 t4 + r1 + rrsp.

btw, i went to h&r block, simpletax and turbotax website, they all say its free....but is it really free? or at the time to sumit the form, it charge an amount to send it?
Member
User avatar
Nov 26, 2014
216 posts
36 upvotes
Quebec
SimpleTax is pay what you want. TurboTax it can be free depending on your income. Not sure what's the Threshold it didnt apply to me
Deal Addict
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Nov 26, 2003
1176 posts
143 upvotes
Net Filed last Monday, the status has been "In Process" ever since. What's confusing is according to the list of possible status options on the CRA website, it should just say "Received" and then to go "Assessed" once they're done with it. Anyone else experiencing the same thing?
[OP]
Deal Addict
Jul 22, 2015
1042 posts
308 upvotes
Saint-Hubert, QC
camzie wrote:
Mar 8th, 2017 10:31 am
Net Filed last Monday, the status has been "In Process" ever since. What's confusing is according to the list of possible status options on the CRA website, it should just say "Received" and then to go "Assessed" once they're done with it. Anyone else experiencing the same thing?
Mine was "assessed" as soon as I filed. Check the last column, that should be the date you receive your money and notice of assessement.
Newbie
Apr 13, 2006
3 posts
Toronto
camzie wrote:
Mar 8th, 2017 10:31 am
Net Filed last Monday, the status has been "In Process" ever since. What's confusing is according to the list of possible status options on the CRA website, it should just say "Received" and then to go "Assessed" once they're done with it. Anyone else experiencing the same thing?
My status has been "In Process" since last Monday too. Still waiting..
Member
Jul 18, 2012
214 posts
18 upvotes
Toronto
dutchca wrote:
Mar 2nd, 2017 1:23 pm
Yes to the dental and medical. No to STD premium.
Hi, I have a follow up to the question you answered previously. I have the following items that are part of my benefits. I am an FTE - and I am paying a certain amount on top of my employer to get additional coverage.

Long Term Disability (LTD) Insurance
Health Plans (Supplementary Medical, Prescription Drug, Dental)
Optional Accidental Death & Dismemberment Insurance (Employee, Spouse, Children)
Critical Life Insurance (Employee, Spouse, Children)

The breakdown in cost is
1) for some of the items above, my employer is covering the entire cost
2) for others its most like 50-50.
3) and then some that are only paid by me.

Simple Tax is saying that to claim tax on medical expenses, I need to have >$2.5k in expenses. Summing up all of the costs (1) + (2) + (3), is far more than $2.5k.

Q) can I claim these med premiums in my tax return
Q) can i only claim the incremental amount I am paying out of pocket?
Deal Fanatic
User avatar
Nov 19, 2004
7099 posts
888 upvotes
Cambridge, ON
robbiemurray wrote:
Mar 8th, 2017 1:55 pm
Hi, I have a follow up to the question you answered previously. I have the following items that are part of my benefits. I am an FTE - and I am paying a certain amount on top of my employer to get additional coverage.

Long Term Disability (LTD) Insurance
Health Plans (Supplementary Medical, Prescription Drug, Dental)
Optional Accidental Death & Dismemberment Insurance (Employee, Spouse, Children)
Critical Life Insurance (Employee, Spouse, Children)

The breakdown in cost is
1) for some of the items above, my employer is covering the entire cost
2) for others its most like 50-50.
3) and then some that are only paid by me.

Simple Tax is saying that to claim tax on medical expenses, I need to have >$2.5k in expenses. Summing up all of the costs (1) + (2) + (3), is far more than $2.5k.

Q) can I claim these med premiums in my tax return
Q) can i only claim the incremental amount I am paying out of pocket?
Only the health plan premiums paid by you (not employer) are eligible. And only if those premiums are clearly separated from all the other benefits. You cannot claim any premiums for the various insurance benefits.
Newbie
Oct 4, 2015
15 posts
i had same thing i filed on feb 20 it say in process on march 2nd its say assessed and march 9th for date of assessment but no refund yet
Member
User avatar
Jul 13, 2013
389 posts
139 upvotes
How soon on the date of assessment is the money usually deposited in your account? Mine says March 9 and I'm curious if it will be in there just after midnight or later in the day.
[OP]
Deal Addict
Jul 22, 2015
1042 posts
308 upvotes
Saint-Hubert, QC
Wasp14 wrote:
Mar 8th, 2017 5:16 pm
How soon on the date of assessment is the money usually deposited in your account? Mine says March 9 and I'm curious if it will be in there just after midnight or later in the day.
Mine was March 6th but was deposited March 3rd.
I received the notice of assessment on March 6th though.

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