Income tax refund - Money spent on education

Jump to Page:
< Previous [ 1 ] [ 2 ] Next >

Magcanada
Member since: Oct 05

Posts: 60
Location: Mississuauga, Brampton
Post ID: #PID

Posted on: 03-03-06 10:34:35

If you declare more tax credits then you should have receipts for that amount otherwise CRA may decide following:

1. Asking you to pay the tax for the amount that you declared without receipts,

2. Your tax file will be under watch for several years in the CRA record
3. Legal action

May be more...............

Good Luck

-----------------------------------------------------------------
mag

Jack109
Member since: Jul 04

Posts: 254
Location:
Post ID: #PID

Posted on: 03-03-06 14:13:13

What would be the refund I could expect if I pay CAD$9000 in tution?

Can I expect that my slab for gross will be reduced by $9000?

eg if my income is 65k will I pay tax on 56k.

Thanks,
SG

tamilkuravan
Member since: Jun 05

Posts: 5775
Location: God's own country
Post ID: #PID

Posted on: 03-03-06 14:35:35

Go to Ufile.ca
It is FREE to see returns in it. Log on by registering and key in your numbers. You will see the results (refund amount) immediately. This will give you an idea as to what to expect. Will take you just 2 or 3 minutes.
TK

-----------------------------------------------------------------
I am a Gents and not a Ladies.

Contributors: Jack109(3) Charlie(2) tamilkuravan(2) Magcanada(1) sudesingh(1) Pramod Chopra(1)

Jump to Page: < Previous [ 1 ] [ 2 ] Next >

Show Printable version

Send this page to a friend

Add to favorites

Discussions similar to: Income tax refund - Money spent on education
	Topic	Forum	Views	Replies
	Can I bring the funds from India even after landing in Canada?	Accounting and Taxation	2372	4
	Need Advice, Please ( 1 2 )	Ask Immigration Expert	2112	7
	Regarding Funds!	Moving Soon	1589	1
	Tax & settlement fund	Accounting and Taxation	2414	5
	Deemed resident or non-resident??!	Accounting and Taxation	2194	5
	Income tax refund - Money spent on education ( 1 2 )	Accounting and Taxation	2834	9
	Tuition credit	Accounting and Taxation	1518	1
	amt of money brought in without reporting to CRA ( 1 2 )	Financial Planning	3100	8
	Does anyone know of places accepting donations and giving tax receipts	Accounting and Taxation	2038	4
	deleted ( 1 2 3 )	Accounting and Taxation	3726	14
	Question for person on Payroll and Incorporated business ( 1 2 )	Accounting and Taxation	2904	9
	Can i take legal action ( 1 2 )	General	2495	9
	Overpayment in pay : Return? or Ignore?	Life	1869	1
	Need help with filing my first time tax return fileing.	Accounting and Taxation	2220	5
	Tax Deduction Questions: A lot of	Accounting and Taxation	2403	4
	tax filing goofup	General	1300	1
	accountant help needed.	Accounting and Taxation	1702	2
	Contribution during first 60 days of 2008 - forgot to claim	Accounting and Taxation	1544	2
	Using Tuition/Textbook credit to reduce tax?	Accounting and Taxation	2349	4
	Does CRA require world income or landing amount for Gst HST credit? ( 1 2 )	Accounting and Taxation	10871	10
	8 tax breaks you may be missing....good information to save some more taxes	Accounting and Taxation	1659	1
	PC as gift	Our Native Country!	1352	1
	Is Income Tax Filing mandatory on soft landing? ( 1 2 3 )	Ask Immigration Expert	5856	15
	family maintenance tax refund ( 1 2 )	Accounting and Taxation	4175	7

Charcha

Income tax refund - Money spent on education

Discussions similar to: Income tax refund - Money spent on education