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Hi. In was wondering why making $10,300 self employed income gets me a $1500 return? Wondering where that $1500 comes from?

 
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Hi. In was wondering why making $10,300 self employed income gets me a $1500 return? Wondering where that $1500 comes from?

The income is less than your personal deductions but does make you eligible for the working income tax benefit and the Canadian employment credit.  You should be paying some CPP possibly.  No guarantee your return is correct without seeing it. You don't say if the income is gross or net of expenses.

Hi. In was wondering why making $10,300 self employed income gets me a $1500 return? Wondering where that $1500 comes from?

Its my net income. And have no expenses. And pay no ei, etc. Just self employed commission income. Its mostly from the federal return. Is the WITB part of that? Or will I get WITB separately? Other than the quarterly credit from that and gst

Hi. In was wondering why making $10,300 self employed income gets me a $1500 return? Wondering where that $1500 comes from?

You don't pay EI but you should be paying CPP.  The WITB is a tax credit.  It is not separate.  Did you have a T4A or contract income?

Hi. In was wondering why making $10,300 self employed income gets me a $1500 return? Wondering where that $1500 comes from?

Ah OK, so I know my witb would be $114 quarterly and $457 one time annual. I guess that $457 is part of the Federal return I'm.Asking about? And I'd get the $114 July, Oct, Jan, April? I'm asking all this because I'm trying to put together a plan for money, as I'n having a baby soon and won't be able to work much. That still leaves about $1000 I dont know where comes from. $1500 federal return from $10,300 self employed income, never paid any income taxes, CPP, or ei on it, $457 comes from witb, I'll get $114 witb quarterly? Also will get gst credit quarterly and solidarity tax credit monthly