Personal Finance

Questions regarding my Notice of Assessment

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  • Apr 16th, 2005 3:46 pm
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[OP]
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Jan 5, 2005
44 posts

Questions regarding my Notice of Assessment

Can someone please explain the following? I have tried to call the CCRA phone # but can never get through. Thanks!

Since we have allowed your federal amount for Employment insurance premiums, we have calculated and allowed you an Ontario amount for EI premiums of $457.38.

Your net Ontario tax includes an Ontario Health Premium of $13.23. This premium is based on your taxable income. For more info see the instructions for completing form ON428.
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Apr 17, 2001
232 posts
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Port Credit
Your Notice of Assessment from the CRA actually informs you of an assessment of two income taxes, Federal and provincial/territorial (other than Quebec). There are two independent calculations of these taxes within your income tax and benefit return.

You paid EI premiums and they are allowed in the calculation of non-refundable credits against both Federal and Ontario income tax. That's all they are saying in the first item you quoted. You got a credit against federal tax and Ontario tax.

Ontario has also introduced a new Ontario Health Premium for 2004 -->. This premium is also calculated by reference to the level of your income and is assessed along with your Ontario Income tax. It actualy is a form of income tax. It is authorized within the Ontario Income Tax Act.

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