I have now received both of my T4s, and have received my interest on OSAP. I think that is all I have for tax time to come in. I am now wondering if there is a way to estimate what my income tax return will be. Any ideas? In 2008 I only worked 6 months and received a little over $400 back. In 2009 I worked 12 months so I'm hoping for more back this year. I'm anxious for it to come in to make some dents in debt repayment. I just hope I don't end up OWING money.
Are there any ways to estimate this before my taxes are all filed?
If you go to www.taxtips.ca, there is a calculator to plug in your numbers.
ReplyDeleteDon't forget to deduct your College of Teachers fees (as other union/professional dues) as you don't get a slip for that in the mail.
I used the quicktax website, there's a free option on there, I entered all of the info I just didn't submit it because at the time I was still waiting for some of my papers to come in.
ReplyDeleteAh both say I owe money as of right now. I do need to figure out my tuition credits though. I know I have some to forward on to this year. Hopefully it's enough to make me at least break even.
ReplyDeleteIt's too bad they do not take into account how much you have paid back to student loans. Almost $17000 in 2009. It's making me realize that I need to start contributing to RRSPs I really don't want to owe MORE money to the government!!
ReplyDelete