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Laurie4
New Member

Is it possible to carry some of the income, taxes, etc from 2016 to 2017 in order to put me into a lower tax bracket in 2016?

I worked a lot of overtime in 2016 but in 2017 I have been unemployed. So I'm thinking it would be good to average the two years.  This would lower my income tax bracket.  I'm not sure if the government allows this or not.  I'm thinking that I would need to carry forward the income tax in 2016 as well or would that automatically occur.

I haven't filed my 2016 income tax yet.

1 Best answer

Accepted Solutions
Delphision
New Member

Is it possible to carry some of the income, taxes, etc from 2016 to 2017 in order to put me into a lower tax bracket in 2016?

CRA will not allow it, especially since they get copies of all T4, T4A, and T5018 for some self -employment.  They would just heartlessly reassess.

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2 Replies
Delphision
New Member

Is it possible to carry some of the income, taxes, etc from 2016 to 2017 in order to put me into a lower tax bracket in 2016?

CRA will not allow it, especially since they get copies of all T4, T4A, and T5018 for some self -employment.  They would just heartlessly reassess.

Laurie4
New Member

Is it possible to carry some of the income, taxes, etc from 2016 to 2017 in order to put me into a lower tax bracket in 2016?

This makes sense.  Thanks so much.
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