Resident Taxes

Taxes can be complicated. Here are some commonly asked questions and articles to help you get started.

Common Questions

Articles

  • How do I file an adjustment to claim previous Education Tax credits?

    Please note if you have already filed an objection with Moody Gartner Tax Law inform them so that you can be removed from the batch file.

    How to File Tax Adjustments for previous years Education tax Credits:

    • Find your notice of assessment for the applicable year(s)
    • You can ask for a change to a return for a tax year ending in any of the 10 previous calendar years. For example, a request made in 2016 must relate to the 2006 or a later tax year to be considered.
    • Complete Form T1-ADJ, T1 Adjustment Request, or a signed letter giving details of your request (including the years of the returns to be changed), your social insurance number, your address, and a telephone number where CRA can call you during the day.
    • All supporting documents for the change (T22O2A), including those for the original assessment, unless you have already sent them.

     

    How to File an Adjustment Form:

    There are two ways you can file an adjustment to your income tax return:

    1)      By Internet: You can make changes to your income tax return using the online My Account Service from the CRA. Once you are in My Account, you simply click on the Change My Return option and then enter and submit any changes to your most recent income tax return or returns from the previous two years. Once you select Submit, your changes will be sent to the CRA.

    2)      By Mail: You can complete and print a T1-Adjustment form and mail it into the CRA. If you choose to submit your adjustment request via mail you will need to include the receipts or supporting documents for the changes you wish to make & the supporting documents for your original claim (if applicable), in addition to the completed adjustment request.

    Surrey Tax Centre

    9755 King George Blvd.

    Surrey BC V3T 5E1

     

    What happens next?

    The CRA will review your adjustment request and send you a notice of reassessment once they have completed their review. The Notice of Reassessment will include any changes made to your return and a letter of explanation if they did not accept your change.

  • What's new for taxes in 2015?
    • T2202A – UBC will issue the T2202A form which allows claiming of the education and textbook credit for 2015. The credits are worth about $1,000/year.
    • Universal child care benefit (UCCB): increased to $160 per month for each qualified dependent under 6 years of age and there is a new benefit of $60 per month for each qualified dependent aged 6 through 17.
    • Child care expenses – The maximum limit per child has increased by $1,000.
    • Family caregiver amount for children under 18 years of age– The amount for children under 18 years of age has been eliminated and replaced by the enhanced universal child care benefit.
    • Family tax cut – For 2014 and later years, the calculation for the family tax cut has been revised to also allow for the transfer of unused tuition, education, and textbook amounts from a spouse or common-law partner.
    • Children’s fitness tax credit – The children’s fitness tax credit is now a refundable credit.
    • Investment tax credit– Eligibility for the mineral exploration tax credit has been extended to flow-through share agreements entered into before April 2016.
    • Tax-free savings account (TFSA) – The TFSA annual contribution limit has increased to $10,000.
  • What is the last day I can file my taxes

    May 2, 2016 is the due date for Canadian Taxes.

  • How do I file my income tax return?

    There are a number of ways to file your tax return.

    File Online:

    • Efile – a secure service that lets authorized service providers to complete and file your return for you electronically. For further information go to cra.gc.ca/efile-individuals
    • NetFile – secure service that allows you to file your own return online by using software or a web tax application. For a list of available software and applications, including free ones go to cra.gc.ca/netfilesoftware
    • Auto-fill my return – new secure CRA service that allows you or your authorized service provider to electronically request and receive tax information that the CRA has available at the time you are filing your return, to help fill in certain parts of your return. CRA will have most tax information slips and other tax-related information, such as T4, RRSP information and carry forward amounts. For further information go to: cra.gc.ca/auto-fill

    File by Mail:

    • You can mail your return to a tax center at the address given on your tax forms. For BC residents, the tax center address is:
      • Canada Revenue Agency
        Tax Centre
        9755 King George Boulevard
        Surrey BC V3T 5E6

    Hire an Accountant:

    • You are responsible for providing the accountant with your tax slips and other documentations and he/she will file your taxes for you.
  • What do I include/keep?

    Whether you are filing your return electronically or via mail keep a copy of all supporting documents in a secure location in case you will need to provide them. Keep all supporting documentation (tax slips, receipts etc.) for six years.

  • What deductions can I claim as a resident?

    Deductible expenses include:

    • Union/professional expenses (BCMA/CoPS, CMPA)
    • RRSP
    • Child Care
    • Moving
    • Automobile (if required by employer)
  • What tax credits can I claim as a resident?

    Tax credits include:

    • Tuition
    • T2202A
    • Student loan interest-5 yr CF
    • Donations-5 yr CF
    • Medical expenses
    • Public transit passes

Other Resources

The CMA produces Tax Tips for the Physician and Physician-in-Training annually.

The CRA offers the General Income Tax and Benefit Guide 2015 for more information.

Workshops

Poster for 2016 RDBC tax clinic