I only worked for the first three months of the tax year, having done massive overtime I ended up paying a lot of tax based on an estimated yearly income which was never reached as I wasn't there for the whole year. How do i get my tax back?

Also since I worked on work and holiday visa ... coming from overseas ... I had my own private health insurance and therefore shouldn't need to pay that bit in taxes either right?  And same with retirement fees.  Can i get both of those back completely?
And how do I launch the tax return with all this?

thanx A LOT for ur help, I'm a bit lost here.

cheers

Answer

1 person found this helpful

Hello,

When you file your Canadian tax return you will taxed on your taxable income. Depending on whether you are a resident or non-resident of Canada, you may be taxed on worldwide income or only Canadian sourced income. Either way, any tax you paid in excess of your actual tax payable will be refunded to you.

If you are an employee in Canada, you will be forced to contribute to CPP and EI. You can, however, request a ruling from the CRA, which will determine whether your employment is pensionable or insurable and whether or not Canada Pension Plan (CPP) contributions and Employment Insurance (EI) premiums must be paid.

An employer or a worker can request a ruling by sending a letter or a completed Form CPT1- http://www.cra-arc.gc.ca/E/pbg/tf/cpt1/cpt1-08b.pdf - to your tax services office.


Regards,

Allan Madan, CPA, CA
www.madanca.com
Was this answer helpful? Yes No
2 additional answers

No answers have been posted

More Actions

People come to TurboTax AnswerXchange for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Do you still have a question?

Ask your question to the community. Most questions get a response in about a day.

Post your question to the community