Pay: Statements, Backpay, Benefits, Deductions (Taxes, T4), Deployed ect... [MERGED]

[big_johnson1]

That comes from an official email sent out by RMC today. I think that clarifies the situation a bit.

Any chance of forwarding this to me?

 

[Inch]

That comes from an official email sent out by RMC today. I think that clarifies the situation a bit.

A T2202 is issued by the post secondary institution. RMC does not issue them to my knowledge, or at least they didn't 3 years ago. T2202's are the forms that state how much you paid in tuition and how many months you were a full time or part time student. The full time student status is the only thing you will be able to claim since the crown paid for the tuition, not you. Now, if you were to claim the tuition for a tax deduction, you would have to claim that money as income. Since it's not income and it's simply a reimbursement, you cannot claim the deduction.

 

[jswift872]

Well I have two jobs and Dairy Queen (job number 1) didn't take enough out of me, so I owe a nice amount, and job number 2 (Reserves) put me well over the "tax bracket" so, I guess I won't be getting that surround sound system I wanted quite yet, lol

 

[Big Foot]

Inch, I was issued a T2202 by RMC today and have heard nothing else regarding it. All it gives me is 8 months full-time credit. Don't know how much money that gives me but I have my T2202 signed by the registrar.

 

[Inch]

Inch, I was issued a T2202 by RMC today and have heard nothing else regarding it. All it gives me is 8 months full-time credit. Don't know how much money that gives me but I have my T2202 signed by the registrar.

Good deal, you can see on the form where they'd put tuition that you can claim, if it's not on your form then you can't claim it. The 8 months full time student credit makes a difference, since you guys don't make all that much, you'll almost get everything back that you paid in taxes. Good to know they let you guys claim that now. Enjoy your refund!  ;D

 

[big_johnson1]

Just to add, I called Revenue Canada this morning and CONFIRMED that as an ROTP student you cannot claim tuition (obviously) but you CAN claim the $400 a month credit for being a full time student. Good news for me anyways.

 

[Big Foot]

Inch, my T2202 has no dollar figure for tuition. It only confirms that I was a full-time student for 8 months last year. Would be sweet if I could claim tuition but $3200 in full-time credits is pretty nice, too.

 

[Strike]

Hey Inch,

Does that mean we can redo our taxes from our ROTP years and claim the full-time student?  Wouldn't that be sweet.

 

[Inch]

Hey Inch,

Does that mean we can redo our taxes from our ROTP years and claim the full-time student?   Wouldn't that be sweet.

That's a we that doesn't include me right? I'm not ROTP  , CCEP for me and I've always claimed full/part time student (as applicable), even when I was waiting to go to MJ and I was doing courses through Continuing Education at RMC. This year will be my smallest return since I enrolled.

I'm not sure if it will carry through, I'm claiming interest on student loans from 1999 & 2000 that I didn't claim before so you may be able to claim full time student for years past.

 

[big_johnson1]

And regarding H&R Block, it's 29.95+ tax for the instand refund for students only. Normally, you pay a certain amount (I think it's 40-50$) and if you want the instand refund they take a percentage of that.

 

[Torlyn]

To all of the ROTP students:

You may want to think about not claiming your student amounts this year, or at least not all of them.  While I was going to school, I wasn't making a whole shwack of cash, so I deferred my education amounts until I finished school and started working full-time.  I've been able to stretch it out, so I've gotten back an average of $1500 a year back for the last 3 years...  Food for thought. 

T

 

[Hoplite]

I'll second Torlyn's good advice.  My education credits got lost in the shuffle at the accountant's office, and I had a couple hurting tax years when I starting to pull down some money!

Oh was I wishing for those credits.  There is nothing like thinking you are getting a return to find out that you owe a grand!  :crybaby:

 

[mo-litia]

This is an option but I would urge you to look into netfile services provided by Quicktax and Taxwiz.   It takes about 10 days to receive your refund from the government but you are not paying H&R Block any money and you also get in the habit of doing your own taxes.   I started doing this years ago and it helps you understand the tax system and your deductions.

Mo-litia - Does H&R Block only charge $25 for your tax return?   Or do they take a percentage of your refund in order to provide the same day refund services?  

Cheers,  

I had to call H & R Block as I wasn't sure; it's actually $29.95 (The sign in their window dosen't detail their hidden fees. :.) and it is same day refund.

 

[mo-litia]

And regarding H&R Block, it's 29.95+ tax for the instand refund for students only. Normally, you pay a certain amount (I think it's 40-50$) and if you want the instand refund they take a percentage of that.

:-[ :-[  Next time I'll finish reading the thread before I post!

 

[jc5778]

Everyone buy quicktax and do your owntaxes.  Very easy, even for a grunt like me.  34.95 includes 6 free NETFILE  for returns over 25,000, unlimited returns for those under 25,000.  Last time I used H & R Block they charged per slip.  This year between the wife and I, we had 10 slips.  Work, schooling, OSAP etc...  I will never pay someone to do mine again ;D

 

[Fishbone Jones]

I've been using Quick Tax and Efile for the last five years or so. Very user friendly and easy. I can do mine, the wife's and daughters returns in about two hours, send them off by EFile and get our rebates in about two to three weeks tops. I'll never depend on or pay someone to do them again. The good thing is you can leave all your previous returns on the hard drive and the new year program can search for bring forward status of the old returns.

 

[Torlyn]

I'll second (third?) the quicktax.  I've used it for 4 years, and I've had to do some funky returns, and it's brilliant.  Netfile, I get my return in usually 5-7 business days, direct deposit to my account.  And being able to import the last years return is awesome, as it finds things that sometimes can be carried forward (RRSP, LLP, HBP, education deduction amts, etc.)

T

 

[oneill]

Hi i am looking for some help.
i am moving over from the UK to Canada.
And I am hopefully joining the Army,
but one of the things that I'm unsure of is the tax law,
Is there some one in the admin office that will be able to help, and or give advice on what i should do.???

If any one can help i would be most gratefull

paul 

 

[camochick]

You can use quick tax right off the internet and if you are claiming less than like 20k you get it for free. That's how i did my taxes and my check should be here soon.

 

[Sub_Guy]

ufile.ca is the cheapest I can find, I used it last year, and this year.  14.95 for 1st family member, 5.00 for the second family member additional family members free (dependants) returns under 20000 free....