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Friday, February 19, 2010

T4s Coming In

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?

4 comments:

  1. If you go to www.taxtips.ca, there is a calculator to plug in your numbers.
    Don'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.

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  2. 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.

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  3. Ah 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.

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  4. It'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!!

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