[xyz139] tax return question
- 主题发起人 小傻
- 开始时间
最初由 小傻 发布
xyz139, I know you are an expert...
Question about Ontario Health Premium, I could not see the deduction from my payroll for year 2004, is it on my T4, or somewhere?
It has nothing to do with your Fed Tax. You will pay it when you file your ON428.
Re: Re: [xyz139] tax return question
I am not sure... but I might be wrong:
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Q: What if some employees end up not paying enough Ontario Health Premium or paying too much?
A: When employees file their individual income tax return for the year, the amount of tax they have to pay (including the premium) is calculated and compared to the amounts they had deducted at source. This determines if they will get a refund or have a balance owing. Persons who receive income with no tax deducted (such as rental or investment income) may want to have their employer withhold more income tax by completing Form TD1, Personal Tax Credits Return. Individuals who currently pay income tax by instalments will get information with their next reminder about increasing their instalments for the year.
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This is the quote from http://www.cra-arc.gc.ca/tax/business/topics/payroll/faq-e.html
I am not sure... but I might be wrong:
-------------------------------
Q: What if some employees end up not paying enough Ontario Health Premium or paying too much?
A: When employees file their individual income tax return for the year, the amount of tax they have to pay (including the premium) is calculated and compared to the amounts they had deducted at source. This determines if they will get a refund or have a balance owing. Persons who receive income with no tax deducted (such as rental or investment income) may want to have their employer withhold more income tax by completing Form TD1, Personal Tax Credits Return. Individuals who currently pay income tax by instalments will get information with their next reminder about increasing their instalments for the year.
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This is the quote from http://www.cra-arc.gc.ca/tax/business/topics/payroll/faq-e.html
Here is the OHP calculation chart, which tells you how much you suppose to pay for year 2004 and afterwards...
http://www.gov.on.ca/FIN/english/media/2004/bke-ohp.htm#OHP
However, as suggested by this site:
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Collection through the income tax system
The Ontario Health premium would be collected through the income tax system. Starting July 1, 2004, the premium would be deducted from pay and pensions as part of income tax.
Individuals who pay their taxes by instalments will have the option of adding the premium to their remaining instalments for 2004 and the first two instalments of 2005.
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http://www.gov.on.ca/FIN/english/media/2004/bke-ohp.htm#OHP
However, as suggested by this site:
-------------------------------------------
Collection through the income tax system
The Ontario Health premium would be collected through the income tax system. Starting July 1, 2004, the premium would be deducted from pay and pensions as part of income tax.
Individuals who pay their taxes by instalments will have the option of adding the premium to their remaining instalments for 2004 and the first two instalments of 2005.
-------------------------------------------
I did calculation by myself and found out that OHP did get deducted from my pay in 2004; thus, it is included as a part of your federal taxes. So, to your question, 小傻, OHP you paid is included on your T4, box 22 - income tax deducted, but not as a separate item.
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The other question, we made some donations last year, several hundred bucks, but we have not received the receipts yet...can we claimed them without receipts? We do our tax by software and ufile, therotically, we should keep the receipts but don't need to send them...
You can claim them if you have been told they will mail you a receipt for income tax purpose... but make sure you have the receipts (call the organization you donated to and ask for a copy)just in case CRA wants to "review" your return..
Just a reminder, not all donations are tax deductible... for example, United Way or Children Hospital, if you bought a button or sticker for a special event, you can NOT claim those.
Just a reminder, not all donations are tax deductible... for example, United Way or Children Hospital, if you bought a button or sticker for a special event, you can NOT claim those.
