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TranceAddict Forums > Local Scene Info / Discussion / EDM Event Listings > Canada > Canada - Toronto & Southern Ont. > E&Y's Top 10 Tax Filing Tips
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MarkT
Automatic Static



Registered: Sep 2003
Location: Toronto

Good tip RJ...QuickTax is a really good piece of software.

Even if your income exceeds 25k, I highly recommend their software...I think it's under $30...I've used it for the last 4-5 years and it's about as easy as it gets. You can complete and netfile your tax return in a matter of minutes.

By buying it, you can file several returns at no extra charge (3 or 5, I think) and any returns with income below 25k don't count against that limit...so I file returns for any of my friends who are still students.

netfile = usually receiving your refund in < 2 weeks too, as opposed to the 4-8 if you mail in a return.

it's also valuable if your determining how much to top up your RRSP contributions at year end (plug in a # and it tells you instantly how much more you'll get back as a result).

Old Post Mar-20-2006 21:07  Canada
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Platipus
317 Godfather



Registered: Jul 2001
Location: Waterloo

I should really do my taxes soon.. oh well.. i got plenty of time.. I love QuickTax.. 1 hr.. it's all it takes..


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Old Post Mar-20-2006 21:11  Canada
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shanny
Ferocious One



Registered: Dec 2003
Location: in the jungle the mighty jungle

I took RJ's advice and used Quick Tax last night and this morning.

I really recommend it!
Really easy, and quick. Less that 40 mins and all finished.
And free!


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Old Post Mar-20-2006 21:33  Canada
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Yohan
Champion of Deep&Nu-disco



Registered: Jan 2004
Location: Kitchener, Ont, Soviet Canuckistan

quote:
Originally posted by shanny
I took RJ's advice and used Quick Tax last night and this morning.

I really recommend it!
Really easy, and quick. Less that 40 mins and all finished.
And free!

And usually more accurate than doing by hand.(I got 400 more in refund than doing by hand)


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Old Post Mar-20-2006 22:05  Canada
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disko-kandi
Supreme tranceaddict



Registered: Nov 2002
Location: Bavaria

yaaayyy!! quick tax rules!! i just did my taxes in less than an hour & now i'm getting a nice big fat paycheque! thanks for the tip RJ!


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Old Post Mar-20-2006 22:18  Germany
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naillil
Supreme tranceaddict



Registered: Dec 2005
Location: Back in Mississauga... *cries*
Question

I want to claim my rent from living off campus during school. But I don't have a receipt from my landlord and can't get a hold of him (since i don't know his number and forgot his name - duh!)

Can I still claim that rent even without a receipt or paper work confirming I paid it???

Old Post Mar-21-2006 00:32 
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rabbitjoker
aural sadist



Registered: Aug 2002
Location: Toronto, ON, CANADA
Re: Question

quote:
Originally posted by ** TigerLily **
I want to claim my rent from living off campus during school. But I don't have a receipt from my landlord and can't get a hold of him (since i don't know his number and forgot his name - duh!)

Can I still claim that rent even without a receipt or paper work confirming I paid it???


One is not required to submit expense receipts with their taxes. One is required to have them on hand in case of an audit.


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Old Post Mar-21-2006 00:42  Canada
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Jem_hadar
I remember...



Registered: Nov 2003
Location: Pandora (South of Nowhere)
Re: Re: Question

quote:
Originally posted by rabbitjoker
One is not required to submit expense receipts with their taxes. One is required to have them on hand in case of an audit.


That depends.

If you paperfile, ie. mail in your return, you'd better send in those rent receipts, or I'll bet you have a 99% chance them requesting them... and then when you cant produce them, you'll lose out.

BUT - if you netfile, RJ's right, they dont demand them. They only chose a % of all netfiled returns to randomly request that the receipts and support be mailed in to them.

So I'd just make sure you netfile or efile your return Lillian. That's you safest bet of getting that rent claim!


Jem


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Old Post Mar-21-2006 00:49  Canada
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rabbitjoker
aural sadist



Registered: Aug 2002
Location: Toronto, ON, CANADA
Re: Re: Re: Question

quote:
Originally posted by Jem_hadar
That depends.


Thanks for clearing that up. Don't want to bugger around with CRA. Give them what they need and they'll leave you alone (usually).


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Old Post Mar-21-2006 01:47  Canada
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Jem_hadar
I remember...



Registered: Nov 2003
Location: Pandora (South of Nowhere)
Re: Re: Re: Re: Question

quote:
Originally posted by rabbitjoker
Don't want to bugger around with CRA. Give them what they need and they'll leave you alone (usually).


True - you dont wanna! They're interest and penalties are ridiculous.

And no buddy's worse than the Receive General office when it comes to GST!

HOLY SHIT! HEADACHE! I hate dealing w/ the Receiver General, ESPECIALLY re: GST!

So difficult. Such a pain. The GST system NEVER works smoothly - well, hardly EVER!

Jem


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Old Post Mar-21-2006 02:06  Canada
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MarkT
Automatic Static



Registered: Sep 2003
Location: Toronto

a tax expert can correct me if I'm wrong, but rent paid is just a declaration on your tax return and AFAIK receipts need not even be included with your paper return.

but as mentioned...if you're ever audited, they could ask you to prove your expenses. So even if you don't have your landlord's contact info (you are supposed to put their name on the declaration though), you could prove your expenses in other ways (consistent pre-auth. cheque withdrawls on bank statements, cancelled cheques, etc).

Old Post Mar-21-2006 02:17  Canada
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TranceAddict Forums > Local Scene Info / Discussion / EDM Event Listings > Canada > Canada - Toronto & Southern Ont. > E&Y's Top 10 Tax Filing Tips
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