filing income tax Archives - Mommy Kat and Kids

Find Provincial Tax Benefits You Can Claim with Help from TurboTax Canada

April 9, 2015 by Kathryn 39 Comments

The deadline for filing income tax is almost here and if you still haven’t filed, TurboTax Canada is the quickest and easiest way to ensure that you get the job done on time. There are plenty of benefits that Canadian families can claim and often, those benefits are specific to certain provinces. Make sure you don’t miss out on some of these top tax credits and rebates offered in provinces across Canada!

British Columbia – Low Income Climate Action Tax Credit

This deduction helps low income individuals and families offset the carbon tax they pay. Eligible persons receive their payments four times a year, as part of their GST Credit payment.

Alberta – Family Employment Tax Credit

This program is designed to help working families provide for their children. There is no need to apply separately to get payments under this program. The information from your Canada Child Benefits application will be used to determine your eligibility for the program. [Read more…]

Come Join the @TurboTaxCanada #CDNMoney Chat on March 24 at 7pm EST

March 19, 2015 by Kathryn Leave a Comment

As someone that has a fairly complicated tax return, I was very excited about partnering with TurboTax Canada for the first time this year. In addition to sharing tips, tax changes and potential deductions with readers, I’ve also had the chance to test out TurboTax for myself and see just how much easier filing taxes becomes with the help of this innovative software.

Now, TurboTax Canada wants to help you file your taxes with ease too! The company is joining in the next #CDNMoney chat on Tuesday, March 24 at 7pm EST, and tax expert Robin Taub will be on hand to answer all your questions! It’s a great way to ensure that you’re filing your taxes with confidence this year. [Read more…]

Don’t Forget To Claim These 4 Often-Missed Canadian Tax Deductions

February 20, 2015 by Kathryn 72 Comments

Tax time is in full swing here in Canada, and that means that it’s time to organize paperwork and start filling out forms to ensure the maximum possible refund, or the minimum possible payment! This year I’ll be using TurboTax to help me file online and I’m so excited to finally see for myself how quick and easy filing online can be. Since TurboTax offers both an accurate calculations guarantee and a maximum refund guarantee, I know that there’s no risk of having to pay a penalty or miss out on potential savings.

If you’re starting to organize your paperwork for tax time, there are a few often-missed Canadian tax deductions that you should make sure to consider as well. After all, even small amounts saved can help lower the impact of tax season…or make that refund cheque even bigger! These four tax deductions are among the top ones missed by Canadians when filing taxes:

Medical Expenses

Since Canada provides basic healthcare coverage to its citizens, medical expenses aren’t something often claimed by families. But other out-of-pocket medical expenses can really add up during the year. Dental appointments, medical prescriptions and travel medical insurance can all be claimed as medical expenses. So can hearing aid batteries, healthcare premiums paid to an employer’s healthcare plan and travel expenses incurred to obtain medical services. [Read more…]