SISIP/RETRO/TAX/SLIPS

Sapper, sent yours in yesterday, at a work.

OK so I enter $xxxxx on line 170 to cover the lawyer fees we got in the letter from Peter. But what about the long distant phone calls, the paperwork I sent to Peter and SISIP. That had costs to it. Do I tack that on line 170? Is that claimable?

Hum.... reminds me of early 2013 all over again

Please read new thread everyone about amended T5 and T4A recently received by Manulife.

Thanks, I'm beginning to see light at the end of the tunnel.

Peep "anything" medical related, like monthly health and dental premiums, the 20% Sunlife did not cover such as therapy, chiro, physio, drugs add it all up and put it on the medical expenses line.

You are allowed $11,000 (might be $11,500 someone please verify) in medical expenses.

For example Mrs TT fell down the stairs and severly damaged her left ankle and foot. She needed crutches, an air cast and physio. The crutches and air cast receipt's I will just add to my medical expenses in 2014 (I'll classify it as medical equipment), the physio I will send in to Sunlife. The receipt you get back is the 20% they do not cover I will take that amount and classify it as physio on the taxes.

For the 20% not covered for drugs I keep the pharmicist stubs and at the end of the year I add them up and classify it as drugs.

Sapper, where are you claiming the $25 annual fee. What line?

Don't forget to include "deductable amounts" from sisip drug claims-$25 annually per family member. Also include ANY travel insurance purchased for trips outside the country. Personal or business allowed. Mailed mine in yesterday. Hope all is well. Now we wait...
Sapper

Something to pass along with reference to the way in which our taxes are to be assessed by way of paper file.

The following info is coming from a CRA representative, who I spoke with via telephone, so it is in no means concrete, but it is  the best I can do, as I cannot find a format in writing that explains it.

So the way in which it was explain to me is as follows: Once you send your paper file, it will go to the designated tax center for your area.
Once your paper file reaches your designated tax center, it is put in a pile, this pile, is referred to as the return room.
What happens next is that someone is assigned to do a certain amount of returns from that pile, and so on.
Once your return has been assigned to someone, your CRA account will be frozen, once it is completed, they will unfreeze the account.
Once your return has been assigned, the only info that one can receive, is that it is in process, or it has been completed.
I asked if the T1198 will be done at the same time, the answer given to me was, yes.

I told them that mind was sent overnight delivery, and asked what is the timeline on completing it, the answer given to me was, your tax return is probably sitting  in the return room, and it has not been assigned to anyone yet. The timeline for the CRA to completing  a paper return, I was told is 4 to 6 Weeks.

NOTE : I was advised to send out for My Account, which is a tool available to us to monitor our CRA account, you apply online from the CRA's website, and they will send you your pin in the mail, within 5 to 10 business days.
I was registered for this in the past, but lost all my log in info, so I re registered.
I agree with that advice given to me, as the My Account is updated the same time as any updates have been done to your CRA account.
This may be of some convenience to us, as we will be able to monitor the process.

So perhaps others have been told different, if so, please pass it on, as you all can understand, not all representatives are on the same page.
I for one am interested in this, as I cannot remember the last time I have sent in my return  via, paper file, actually perhaps I never did.

Birds of a feather!  

I hear you Sparrow, but for me it is, I hate taxes this time around

Thanks Trooper, that was the reason I was inquiring as the tax program working with indicated that we qualified for the New Home Tax Credit (not our first home but we moved to this location for my specific medical and physical needs et al) therefore, it indicated we qualified for the $750 rebate. I assume it is one credit per household. Then my thoughts went to the land transfer tax. I have never claimed land transfer tax in any previous home but wondered on this option in conjunction with the New Home Tax Credit. Thank you all so much. Did I say how much I hate taxes!

The First-time Home Buyers' Tax Credit was introduced as part of 'Canada's Economic Action Plan' to assist Canadians in purchasing their first home. It is designed to help recover closing costs, such as legal expenses, inspections, and land transfer taxes, so you can save more for money for a down payment.1

The Home Buyers' Tax Credit, at current taxation rates, works out to a rebate of $750 for all first-time buyers. After you buy your first home, the credit must be claimed within the year of purchase and it is non-refundable. In addition, the home you purchase must be a 'qualified' home, described in more detail below. If you are purchasing a home with a spouse, partner or friend, the combined claim cannot exceed $750.2

To receive your $750 claim, you must include it with your personal tax return under line 369.

In order to be eligible for the First-time Home Buyers' Tax Credit, your home must meet the following requirements:

Be within Canada
Be an existing or new home
Be a single, semi, townhouse, mobile home, condo, or apartment
Can include a share in a co-operative housing corporation that gives you possession of the home
You must intend to occupy the home within one year of purchase

To personally be eligible for the First-time Home Buyers' Tax Credit, you must also meet the following requirements:

You or your spouse must purchase a qualifying home
The home must be registered in either your name or your spouse's name
You cannot have owned a home in the previous four years
You cannot have lived in a home owned by your spouse in the previous four years
You must present documents supporting the purchase of the home

If you have a disability and are purchasing a home, you do not need to be a first-time home buyer to claim the Home Buyers' Tax Cedit, where a person with a disability is defined as a person who can claim a disability amount on their tax return in the year the home is purchased. The Home Buyers' Tax Credit can be claimed if the home purchased is suitable for the disabled person's needs, and the disabled person occupies the home within one year from the date of purchase.

Land transfer tax applies to all conveyances of land in Ontario. First-time homebuyers may be eligible for a refund of all or part of the tax payable.

For agreements of purchase and sale entered into before December 14, 2007, the refund only applies on the purchase of a newly constructed home.
For agreements of purchase and sale entered into after December 13, 2007, the refund applies to all homes, whether newly constructed or resale.

Qualifying taxpayers may claim an immediate refund at time of registration as follows:

if registering electronically, by completing the required statements under the Explanation tab of the electronic land transfer tax affidavit, or
if registering on paper, by filing an Ontario Land Transfer Tax Refund Affidavit For First-Time Purchasers of Eligible Homes [PDF - 350 KB] at the Land Registry Office.

If the refund is not claimed at registration, the tax must be paid and a claim for the refund may be submitted directly to the Ministry of Finance at the address at the end of this bulletin.
Amount of Refund

The amount of the refund claimed will, if granted, offset the land transfer tax payable. The maximum amount refundable is $2,000.

This Sparrow, is going in well prepared, you know what they say Sparrow, determination pays off.
Best of luck to you, for tomorrow.