Personal Finance

How Big a Tax Refund for 2019 Tax Year?

  • Last Updated:
  • Feb 28th, 2020 11:41 pm

Poll: My average income tax refund over the last 5 yrs was

  • Total votes: 115. You have voted on this poll.
$1 to $500
 
11
10%
$501 to $1,000
 
10
9%
$1,001 to $5,000
 
35
30%
$5,001 to $10,000
 
12
10%
$10,001 to $15,000
 
5
4%
$15,001 to $20,000
 
2
2%
Over $20,000
 
4
3%
No Refund / I had Income Tax to Pay
 
36
31%
Deal Addict
User avatar
Sep 6, 2018
1139 posts
1112 upvotes
Halifax, Nova Scotia
Messerschmitt wrote: Wrong.

You can EASILY increase your deductions (yay more free loan money to the govt), but good luck trying to decrease the deductions. Unless you have proper forms filled with substantation, ain't going to happen.
There are a handful of circumstances an employer can reduce deductions, one being based on your RRSP contributions (doesn't have to be employer related,) and for many other reasons the individual submits the request to obtain a letter of authority which you present to your payroll department.
Deal Guru
User avatar
Jul 17, 2008
10072 posts
2703 upvotes
aweawea wrote: There are a handful of circumstances an employer can reduce deductions, one being based on your RRSP contributions (doesn't have to be employer related,) and for many other reasons the individual submits the request to obtain a letter of authority which you present to your payroll department.
Which you must submit a T1213 and have a valid reason. I know, I've done it in the past. But if you don't have one of those valid reasons, no decrease.

However, all you have to do is tick a box and put a number and magic, your deductions are increased!! yay! Very convenient... for the government.
Newbie
User avatar
Nov 3, 2012
69 posts
30 upvotes
Montreal
Is there a way to get your employer to not take any taxes at all? That way one could hypothetically let that money grow in a TFSA all year, and pay when it's due in April
Deal Addict
Mar 27, 2004
3749 posts
1234 upvotes
Toronto
bubak wrote: Shouldn't just about everybody be getting a refund this year because of that carbon tax rebate thing? Why can't we claim this thing on the TD1 so we don't have to wait a year for the refund?
Not if you have self employed income. We pay instalments. Its just an estimate based on previous year income. If you made more, you will end up paying more than the projected instalments.
Full-time Realtor
Jr. Member
Jun 23, 2017
125 posts
75 upvotes
Guys i am not too good with taxes. Can someone tell me what the return could potentially be if:
- husband earns $110k. Taxes paid $27k. No investments
- wife is a student 25 years old and earned $6k in retail in 2019. Taxes paid $0. Semester fees last year was $2000
-
Sr. Member
Nov 24, 2015
748 posts
486 upvotes
Durham Region
ninjasmilez11 wrote: Guys i am not too good with taxes. Can someone tell me what the return could potentially be if:
- husband earns $110k. Taxes paid $27k. No investments
- wife is a student 25 years old and earned $6k in retail in 2019. Taxes paid $0. Semester fees last year was $2000
-
Input t4’s and the $2000 education tax form into any of the free software available and it will give you the number. It’s not going to be much if anything
Sr. Member
Jul 26, 2018
706 posts
824 upvotes
Canada, eh?
Got $55 back after making a last minute contribution of $300 RRSP to avoid paying more income tax.

Time to go to Hawaii!

Edit: Oh wait...received 2 property tax bills and utilities adding up to nearly $3K.
Deal Addict
Dec 25, 2017
1508 posts
984 upvotes
Just wanted to point out that >$2 refund or tax due is typically not collected (I’m guessing it cost around that to process the payment) so your option of $1-$500 is incorrect, it should be $2-$500!

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