Acc1234humber
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- Posted Re: Is the 'claim rent' feature no longer available? My tax return states I have $0.00. on Investors and rental owners. March 14, 2022 7:00 AM
- Posted Re: Why can’t I claim my son on my tax return on After you file. March 11, 2022 8:59 AM
- Posted Re: How do I file my AISH taxes? It just gives me rrsp options or employment or self employed. I have never done this before. on Seniors and students. March 11, 2022 7:18 AM
- Posted Re: I have a t4a tax receipt, and in the payers name box it is titled Service Canada-esdc-edsc. What is this for? the amount is in "other information" box number 205? on Getting started. March 10, 2022 7:56 AM
- Posted Re: How can I change who receives the Climate Action Incentive? on Credits and deductions. March 10, 2022 7:19 AM
- Posted Re: Where do I enter the staycation tax credit? on Troubleshooting. March 10, 2022 7:16 AM
- Posted Re: Where to enter amount on T4A? on Getting started. March 10, 2022 7:12 AM
- Posted Re: Do I add T5008 sheets to the T5 investment income section if the T5008 are related to business income or should I add up the values and only fill it as business income? on Self-employed. March 9, 2022 11:27 AM
- Posted Re: How do I indicate a CPP over-deduction? I am over 65 and collecting CPP benefits. on Seniors and students. March 9, 2022 11:26 AM
- Posted Re: T5008 Statement of Securities Transactions on Filing. March 9, 2022 7:59 AM
- Posted Re: Why does our $1200 standard travel deduction amount for northern residents not reflect in our tax refund? Is this not a tax deduction? on Seniors and students. March 8, 2022 10:25 AM
- Posted Re: Foreign Income that is non taxable in the original country on Filing. March 8, 2022 10:18 AM
- Posted Re: How can I report my 2 documents from RL31 if I have rented two apartments in the same period of time? (One of them was on behalf of my parents who are visitors in Canada) on Investors and rental owners. March 8, 2022 6:02 AM
- Posted Re: When my son was doing his 2021 tax return, he noticed that all of his Ontario tuition that has been carried forwarded has been changed to zero. Make sense to anyone? on Seniors and students. March 7, 2022 2:12 PM
- Posted Re: Moving for work, but change to employment conditions on Troubleshooting. March 7, 2022 2:08 PM
- Posted Re: Is Turbotax payment tax deductible? on Getting started. March 7, 2022 2:07 PM
- Posted Re: How do I claim the Manitoba Fitness Tax Credit for my children? TurboTax keeps saying I am ineligible to apply as I am not between the ages of 18 to 24. on Credits and deductions. March 7, 2022 2:06 PM
- Posted Re: Is golf an entertainment expense? on Self-employed. March 5, 2022 2:11 PM
- Posted Re: I filed my tax for 2021 however forgot to enter the childcare expenses as my spouse has 0 income. I started Refile but no change to my return on After you file. March 5, 2022 10:42 AM
- Posted Re: How do I file a Canadian relocation tax report? on Investors and rental owners. March 4, 2022 7:31 AM
March 14, 2022
7:00 AM
The Ontario Trillium Benefit received will not show as part of your refund, as explained below.
As per our TurboTax article with step-by-step video: What Is the Ontario Trillium Benefit?
The Ontario Trillium Benefit (OTB) is a refundable tax credit to assist low-income families in paying for energy costs, sales tax, and property tax. It combines three tax credits into one single payment:
The Ontario Energy and Property Tax Credit or OEPTC
The Ontario Sales Tax Credit
And the Northern Ontario Energy Credit
The credits are funded by the Province of Ontario and are administered by the Canada Revenue Agency. Direct deposit payments issued may be indicated as “Canada PRO” in your account activity.
If qualified to receive this credit, the amount will be sent in payments throughout the year.
If your benefit is more than $360, you may choose whether you want to be paid monthly or annually. When you are paid monthly, you receive your payment earlier, but when you are paid annually, you are paid one lump sum at the end of the benefit year.
If your benefit is $360 or less, you do not have the option of being paid monthly; you are paid annually in July.
You can claim the Ontario Trillium Benefit if you are eligible for the Ontario Energy and Property Tax Credit (OTC), the Ontario Sales Tax Credit (OSTC), or the Northern Ontario Energy Credit (NOEC).
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March 11, 2022
8:59 AM
The word dependant is defined as “A person who relies on another, especially a family member, for financial support”. The Canada Revenue Agency’s definition of dependant is similar but can vary for each credit.
From the TurboTax articles, you can find more information about Who Can I Claim as a Dependant on my Tax Return?
If you’re a single parent, you may be able to claim one of your children under 18 years of age, or one over 18 and deemed a dependant due to mental or physical impairment, under the Amount for an Eligible Dependent. The Amount for an Eligible Dependent is sometimes also known as the Equivalent to Spouse credit.
From this TurboTax article below, you can find more information: Who are Considered Dependants?
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March 11, 2022
7:18 AM
Assured Income for the Severely Handicapped (AISH) is a type of Social Assistance provided by the Alberta Government. You should receive a T5007 tax slip that you will need to file your income tax return. If you do not receive this slip by the end of February, you should contact AISH or your worker and request it.
To claim AISH In Turbo Tax you can follow the steps below:
On the left side of your screen click on My Return.
Next Click on Income.
Then click on T-Slips and choose T5007 WCB, social assistance, and federal supplements and fill up all information from your T5007 tax slip.
You can find more information on the Alberta.ca website here AISH benefits
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March 10, 2022
7:56 AM
ESDC is an acronym for Employment and Social Development Canada.
Employment and Social Development Canada (ESDC) works to improve the standard of living and quality of life for all Canadians.
Box 205 is for the One-time payment for older seniors as seen in this Canada.ca link about the T4A slip: Statement of Pension, Retirement, Annuity, and Other Income, and more information can be found in their link One-time payment for older seniors.
Please see our TurboTax FAQ on How do I enter a T4A slip
To enter the amount from box 205 - One-time payment for older seniors you will go to the second box from the bottom right corner of the T4A screen.
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March 10, 2022
7:19 AM
If you have a spouse or common-law partner, only one of you can get the credit for the family. The credit will be paid to the spouse or common-law partner whose tax return is assessed first. No matter which one of you receives the credit, the amount will be the same as seen in this Canada Revenue Agency link Do you need to apply for the CAIP.
TurboTax FAQ What's the Climate Action Incentive?
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March 10, 2022
7:16 AM
Where do I enter the staycation tax credit?
The tax credit only applies to leisure stays between January 1, 2022, and December 31, 2022, regardless of the timing of payment for the stays. You do not have options to claim for this year Income tax preparation for 2021.
The temporary Ontario Staycation Tax Credit for 2022 aims to encourage Ontario families to explore the province while helping the tourism and hospitality sectors recover from the financial impacts of the COVID-19 pandemic. The tax credit does not apply to business travel.
Ontario residents can claim 20% of their eligible 2022 accommodation ex penses.
On the Government of Ontario page, in the link about the Ontario Staycation Tax Credit you can learn more about who is eligible, and how to claim the credit.
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March 10, 2022
7:12 AM
Where to enter the amount on T4A?
A T4A is a catch-all slip. If an amount doesn’t go on another slip, it ends up on a T4A – Statement of Pension, Retirement, Annuity, and Other Income.
There are actually four different types of T4As:
T4A(P) – Statement of Canada Pension Plan Benefits
T4A(OAS) – Statement of Old Age Security
T4A-RCA Statement of Distributions from a Retirement Compensation Arrangement
And the plain, no-frills or extra letters T4A – Statement of Pension, Retirement, Annuity, and Other Income
You need to see which T4 A you have and chose from the options in TurboTax software
On the left side of the screen when you are on My return click on Income and then T -Slips and you will see all different Types of T4 A , where you can chose the one you have to fill it up.
Very important information about different types of T4 slips you can see in our great TurboTax article Your Complete Guide to the T4A Tax Slip
For more information and step-by-step directions, please see our TurboTax FAQ How do I enter a T4A slip .
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March 9, 2022
11:27 AM
No , a T5 is not the same thing as a T5008 Slip. While a T5008 slip details your securities transactions, a T5 is a statement of investment income. Investment income is what you earn in interests and dividends on investments and only those in a non-registered account. Both sources of income must be reported on your T1 with your yearly tax return.
It is important to note that however, there may be an overlap between these two slips. They may reflect the same income, and therefore reporting them both would have you report the same income twice. You should consult with those who issued you the slips to understand exactly what you need to report.
More about T5008 and T5 you can find in our Turbo Tax article here T5008 Slip – Statement of Securities Transactions.
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March 9, 2022
11:26 AM
TurboTax automatically sums up your CPP contributions from your T4s and calculates the overpayment for you, if applicable. In the link from TurboTax FAQ Canada Pension Plan (CPP) amounts on my tax return?
you will find more related information about CPP over deductions.
You've already started receiving CPP benefits.
If you've started collecting CPP, you don't need to make CPP contributions anymore and should receive any amounts you contributed back for the current tax year.
You indicated that you're CPP exempt.
When you indicate that you're CPP exempt in box 28 of your T4, TurboTax automatically calculates any CPP amounts paid as an overpayment.
To make the election or enter the details of a previous election to stop paying CPP using TurboTax Online or in the EasyStep view, go to Income > T-Slips > T4A(P) Canada Pension Plan Benefits.
On the T4A(P) - Summary screen, you can enter your information about previous elections or choose to stop contributing to CPP. You must say "Yes" to the question - "Did you elect to stop contributing to CPP in a year prior to 2017?" This screen will only appear if you were 65 to 70 years of age.
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March 9, 2022
7:59 AM
As our TurboTax article asks: "Have you bought, sold, or cashed securities this year? Securities include publicly traded shares and many other financial products such as bonds, T-bills, and mutual fund units. If you’ve dealt with any of these objects in the last fiscal year you can expect a T5008 slip from your broker. What is this slip and how do you report it on your taxes? We’ll answer your questions below.
Please review this TurboTax article for more complete information: T5008 Slip – Statement of Securities Transactions
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