
What happens when you get married/become common law?
Once you are married or common law, the two of you are from there forward cross-referenced on each other’s tax returns for the duration of your time together. You both still each file your own tax return, but you indicate your spouse’s name, SIN and net income on your return (and they do the same for you on theirs). And, there are credits you may be able to transfer between spouses, and others you will have to ensure are only claimed by one.

What school expenses are eligible for tax credits? What do I have to keep track of?
Students often wonder about what costs they have to keep track of (textbooks, residence fees, supplies) in order to claim them on their taxes. The good news is, you don't need to worry about tracking any of those things - only the eligible tuition you pay generates any kind of tax credit, and is reported on your T2202A slip.

Young Professionals: What is "income" for tax purposes, and what isn't?
You want to make sure that your tax return is complete and accurate when you file it, to avoid any problems with CRA. So, it is important to know what counts as “income” that has to be reported on your tax return. As a young professional, it is most often going to consist of employment income from your jobs, but may also include EI benefits, business income or investment income.

Students: What is "income" for tax purposes, and what isn't?
Knowing what the tax department counts as “income” which has to be reported on your tax return is important to make sure your return is accurate and complete. As a student it can be confusing with having part-time jobs, getting student loans, and possibly receiving money from your parents.

Big tax refund - maybe NOT a good thing??
People are usually overjoyed when they learn they'll receive a big refund on their taxes - kind of like some sort of bonus or free money. But a large refund, in fact, isn't necessarily all good news.

Choose our "Tax Buddy" program, and you can "file it & forget it"!
Does the prospect of having to talk to the tax department cause you to break out in a cold sweat? Fear not.....Taxwerx to the rescue!
Our "File It & Forget It” coverage has us deal directly with CRA on your behalf for any subsequent inquiries or audits.