How is turbotax coming up with the refund

I am trying to figure out why im being taxed so much. I think maybe perhaps I passed into the second tax bracket for ontario. But also when I look at like 338 I am wondering why it says 15% and why 350 is not at least the amount of my wifes disability credit.

Also my income appears to be $547 over the Ontario bottom tax bracket. going from 5.15% (i think) to over 9%.

Any ways to reduce the taxable income by 550? 

Here is a break down of my summary.


2018

Total income

Eric

101 Employment Income 43,955.58

104 Other employment income 0.00

113 Old age security pension 0.00

114 CPP or QPP benefits 0.00

115 Other pensions or superannuation 0.00

116 Elected split-pension amount 0.00

117 Universal Child Care Benefit 0.00

119 Employment insurance benefit 0.00

120 Taxable dividends from taxable Canadian corp. 0.00

121 Interest and other investment income 59.91

122 Net partnership income 0.00

125 Registered disability savings plan 0.00

126 Rental income 0.00

127 Taxable capital gains 0.00

128 Support payments received 0.00

129 RRSP income 0.00

130 Other Income 0.00

135 Business income 0.00

137 Professional income 0.00

139 Commission income 0.00

141 Farming income 0.00

143 Fishing income 0.00

144 Workers' compensation benefits 0.00

145 Social assistance payments 3,189.82

146 Net federal supplements 0.00

147 Non taxable income (add lines 144, 145, 146) 3,189.82

150 Total income 47,205.31

Net income

206 Pension adjustment 0.00

207 RPP deduction 0.00

208 RRSP/PRPP deduction 0.00

210 Deduction for elected split-pension amount 0.00

212 Annual union, professional, or like dues 508.11

213 Universal child care benefit repayment 0.00

214 Child care expenses 0.00

215 Disability supports deductions 0.00

217 Business investment loss 0.00

219 Moving expenses 0.00

220 Support payments made 0.00

221 Carrying charges and interest expenses 0.00222 CPP/QPP deduction on self-employment 0.00

224 Exploration and development expenses 0.00

229 Other employment expenses 0.00

231 Clergy residence deduction 0.00

232 Other deductions 0.00

235 Social benefits repayment 0.00

236 Net income 46,697.20

Taxable income

244 Canadian Forces personnel and police deduction 0.00

249 Security options deductions 0.00

250 Other payments deduction 3,189.82

251 Limited partnership losses of other years 0.00

252 Non capital losses of other years 0.00

253 Net capital losses of other years 0.00

254 Capital gains deduction 0.00

255 Northern residents deductions 0.00

256 Additional deductions 0.00

260 Taxable income 43,507.38

Non refundable tax credits

300 Basic personal amount 11,809.00

301 Age amount 0.00

303 Spouse or common-law partner amount 5,487.92

304 Canada caregiver amount for spouse or common-law partner, or eligible dependant age 18 or older 1,498.08

305 Amount for an eligible dependant 0.00

307 Canada caregiver amount for other infirm dependants age 18 or older 0.00

367 Canada caregiver amount for infirm children under age 18 years of age 0.00

308 CPP/QPP contributions through employment 2,002.55

310 CPP/QPP contributions on self-employment 0.00

312 Employment insurance premiums 719.57

317 Employment insurance premiums on self-employment and other eligible earnings 0.00

375 Provincial Parental Insurance Plan (PPIP) premiums paid 0.00

376 Provincial Parental Insurance Plan (PPIP) premiums payable on employment income 0.00

378 Provincial Parental Insurance Plan (PPIP) premiums payable on self-employment incom 0.00

362 Volunteer firefighters' amount 0.00

395 Search and rescue volunteers' amount 0.00

363 Canada employment amount 1,195.00

398 Home Accessibility Expenses 0.00

369 Home Buyers 0.00

313 Adoption expenses 0.00

314 Pension income amount 0.00

316 Disability amount 0.00

318 Disability amount transferred from dependant 0.00

319 Interest paid on student loans 0.00

323 Tuition and education amounts 0.00

324 Tuition and education amounts transferred from a child 0.00

326 Amounts transferred from spouse/partner 8,235.00

330 Medical expenses for self, spouse or common-law partner, and your dependant children born in 2001 or later 0.00

331 Allowable amount of medical expenses for other dependants 0.00

332 Medical deduction 0.00

335 Total 30,947.12

338 Total @ 15% 4,642.07

349 Donations and gifts 291.00

350 Non refundable tax credits 4,933.07

Refund or balance owing

406 Federal tax 1,593.04

410 Federal political contribution tax credit 0.00

412 Investment tax credit 0.00

414 Labour-sponsored funds tax credit 0.00

415 Working income tax benefit advance payments received 0.00

418 Additional tax on RESP accumulated income payments 0.00

420 Net federal tax 1,593.04

421 CPP payable on self-employment 0.00

430 EI payable on self-employment and other eligible earnings 0.00

422 Social benefits repayment 0.00

428 Provincial or territorial tax 1,021.58

435 Total payable 2,614.62

Payments and credits

437 Total income tax deducted 12,915.66

440 Refundable Quebec abatement 0.00

448 CPP overpayment (excess contributions) 24.30

450 EI overpayment (excess contributions) 0.00

449 Climate action incentive 231.00

452 Refundable medical expense supplement 0.00

453 Working income tax benefit 0.00

454 Refund of investment tax credit 0.00

456 Part XII.2 trust tax credit 0.00

457 Employee and partner GST/HST rebate 0.00

469 Eligible Educator school supply tax credit 0.00

476 Tax paid by instalments 0.00

479 Provincial or territorial credits 0.00

482 Total credits 13,170.96

484 Refund 10,556.34

485 Balance owing 0.00

Answer

That's a lot to share!

You are getting a large refund simply because you have paid way too much tax based on payroll deductions. For 2019, fill out a form TD-1 that will allow your employer to adjust your tax deducted.

For 2018, it's done. Your line 335 shows you have a large amount of non-refundable credit.

But this credit amount only generates a federal tax credit at the basic 15% rate, and a corresponding provincial at the basic rate.



,

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