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New Member
posted Apr 3, 2021 9:31:45 PM

Why do i owe so much back ?

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1 Replies
Level 3
Nov 18, 2022 6:31:20 PM

As per CRA (Canada Revenue Agency),

The amount you owe depends on certain factors, such as:

  • taxes deducted by your employer (line 43700)
  • taxes you paid by instalments (line 47600) and pension contributions due (line 42100) if you were self-employed, or have investment income
  • provincial or territorial taxes and credits (lines 42800, 43800, 44000)
  • other benefits and adjustments.

For full information view link below:

https://www.canada.ca/en/financial-consumer-agency/services/financial-toolkit/taxes/taxes-3/8.html

 

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