Comments for Newmarket Bookkeeping Services - The Montana Group http://themontanagroup.ca Maureen Burleson Tue, 03 Apr 2012 20:39:57 +0000 hourly 1 http://wordpress.org/?v=3.3.2 Comment on Amounts for Canadian Disability Tax Credit by Newly Retired? 5 Considerations for Your Ontario Tax Return | Newmarket Bookkeeping Services - The Montana Group | Maureen Burleson | Bookkeeping Ontario http://themontanagroup.ca/2011/10/25/amounts-for-canadian-disability-tax-credit/#comment-2171 Newly Retired? 5 Considerations for Your Ontario Tax Return | Newmarket Bookkeeping Services - The Montana Group | Maureen Burleson | Bookkeeping Ontario Tue, 03 Apr 2012 20:39:57 +0000 http://themontanagroup.ca/?p=523#comment-2171 [...] Disability Tax Credit (click here for a previous blog post) – This is a valuable credit that should not be overlooked at any [...] [...] Disability Tax Credit (click here for a previous blog post) – This is a valuable credit that should not be overlooked at any [...]

]]> Comment on 7 Items to Consider Regarding the Canadian Disability Tax Credit (DTC) by Maureen http://themontanagroup.ca/2011/01/12/7-items-to-consider-regarding-the-canadian-disability-tax-credit-dtc/#comment-2147 Maureen Tue, 27 Mar 2012 15:13:58 +0000 http://themontanagroup.ca/?p=206#comment-2147 Hi Greg, Yes the provincial and federal adjustments are taken care of with the one line on the T1 Adjustment. Maureen Hi Greg,

Yes the provincial and federal adjustments are taken care of with the one line on the T1 Adjustment.
Maureen

]]> Comment on 7 Items to Consider Regarding the Canadian Disability Tax Credit (DTC) by Greg Ryder http://themontanagroup.ca/2011/01/12/7-items-to-consider-regarding-the-canadian-disability-tax-credit-dtc/#comment-2144 Greg Ryder Mon, 26 Mar 2012 22:57:33 +0000 http://themontanagroup.ca/?p=206#comment-2144 Thank you Maureen, Then I take it that the Provincial DTC (line 5844) will automatically be adjusted when I submit each T1 Adj for the Federal Portion. Best regards, Greg Thank you Maureen,
Then I take it that the Provincial DTC (line 5844) will automatically be adjusted when I submit each T1 Adj for the Federal Portion.
Best regards,
Greg

]]> Comment on 7 Items to Consider Regarding the Canadian Disability Tax Credit (DTC) by Maureen http://themontanagroup.ca/2011/01/12/7-items-to-consider-regarding-the-canadian-disability-tax-credit-dtc/#comment-2143 Maureen Mon, 26 Mar 2012 19:19:45 +0000 http://themontanagroup.ca/?p=206#comment-2143 Greg, thank you for taking the time to read my blog, and your inquiry. To apply for the Disability Tax Credit (DTC) on the T1 Adjustment the only lines you need to use are either 316 or 318. Line 316 is used for your personal DTC adjustment. Line 318 is the transfer of the DTC from a dependent. You will have to do a T1 Adjustment for each year, as they cannot be combined. Maureen Greg, thank you for taking the time to read my blog, and your inquiry.
To apply for the Disability Tax Credit (DTC) on the T1 Adjustment the only lines you need to use are either 316 or 318. Line 316 is used for your personal DTC adjustment. Line 318 is the transfer of the DTC from a dependent. You will have to do a T1 Adjustment for each year, as they cannot be combined.

Maureen

]]> Comment on 7 Items to Consider Regarding the Canadian Disability Tax Credit (DTC) by Greg Ryder http://themontanagroup.ca/2011/01/12/7-items-to-consider-regarding-the-canadian-disability-tax-credit-dtc/#comment-2136 Greg Ryder Sun, 25 Mar 2012 13:42:00 +0000 http://themontanagroup.ca/?p=206#comment-2136 I am filling out a T1 Adjustment form for DTC from 2002 to 2010 (each year will be submitted individually) and I would like to know if I just indicate the Federal line 316 to be adjusted or do I have to indicate what the Provincial line 5844 is as well. or As alternative should I send in one letter requesting that for the years 2002 until 2010 adjust the returns to allow for the maximum DTC for lines 316 and 5844. Thank you in advance. I am filling out a T1 Adjustment form for DTC from 2002 to 2010 (each year will be submitted individually) and I would like to know if I just indicate the Federal line 316 to be adjusted or do I have to indicate what the Provincial line 5844 is as well.
or
As alternative should I send in one letter requesting that for the years 2002 until 2010 adjust the returns to allow for the maximum DTC for lines 316 and 5844.

Thank you in advance.

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]]> Comment on Changes to the 2011 Ontario Property and Sales Tax Credits by Sadie Williams http://themontanagroup.ca/2012/03/06/changes-to-the-2011-ontario-property-and-sales-tax-credits/#comment-2092 Sadie Williams Sun, 18 Mar 2012 01:31:17 +0000 http://themontanagroup.ca/?p=801#comment-2092 So, with regards to this new credit, what I am trying to figure out is this: Do I get a tax return at all? In the past, I would receive about $300-400 from rent paid, in addition to the OSTC and the Energy tax. When I used the calculator on the government website, it seems I will be getting less. How is this factored? It seems the government is doing what all governments do--steal from the poor. So, with regards to this new credit, what I am trying to figure out is this: Do I get a tax return at all? In the past, I would receive about $300-400 from rent paid, in addition to the OSTC and the Energy tax. When I used the calculator on the government website, it seems I will be getting less. How is this factored? It seems the government is doing what all governments do–steal from the poor.

]]> Comment on 7 Items to Consider Regarding the Canadian Disability Tax Credit (DTC) by Maureen http://themontanagroup.ca/2011/01/12/7-items-to-consider-regarding-the-canadian-disability-tax-credit-dtc/#comment-2067 Maureen Mon, 05 Mar 2012 22:16:00 +0000 http://themontanagroup.ca/?p=206#comment-2067 Hi Mike and thank you for reading my blog. My first thought was, no I don’t think you’ll receive the credit for years that you were working. But then I thought about a number of my clients, and their dependants, that appear to be leading very ordinary lives while still receiving the Disability Tax Credit. Since your doctor is supportive and prepared to complete the form I would submit it to the CRA. If they approve the seven years then all you need to do are T1 adjustments for each year. Your doctor only needs to complete the one form once, unless the CRA asks for an update going forward. Good luck with your application, Maureen. Hi Mike and thank you for reading my blog. My first thought was, no I don’t think you’ll receive the credit for years that you were working. But then I thought about a number of my clients, and their dependants, that appear to be leading very ordinary lives while still receiving the Disability Tax Credit. Since your doctor is supportive and prepared to complete the form I would submit it to the CRA. If they approve the seven years then all you need to do are T1 adjustments for each year. Your doctor only needs to complete the one form once, unless the CRA asks for an update going forward.
Good luck with your application,

Maureen.

]]> Comment on 7 Items to Consider Regarding the Canadian Disability Tax Credit (DTC) by Mike http://themontanagroup.ca/2011/01/12/7-items-to-consider-regarding-the-canadian-disability-tax-credit-dtc/#comment-2063 Mike Sun, 04 Mar 2012 04:18:54 +0000 http://themontanagroup.ca/?p=206#comment-2063 I have recently been assessed as disabled by CPP. I have a number of disorders/diseases that fit the definition required to claim the disability tax credit. Also my physician totally supports it and will do the paperwork. My medical issues started seven years with a permanent reaction to medications along with other fairly severe medical conditions. I continued to work until June 2011, but had to finally give up my job due to these disabling conditions. My questions is this: can I apply for The disability tax credit retroactively (7 years) even though I continued to work or can I only claim from the time I stopped working? Mike I have recently been assessed as disabled by CPP. I have a number of disorders/diseases that fit the definition required to claim the disability tax credit. Also my physician totally supports it and will do the paperwork. My medical issues started seven years with a permanent reaction to medications along with other fairly severe medical conditions. I continued to work until June 2011, but had to finally give up my job due to these disabling conditions.

My questions is this: can I apply for The disability tax credit retroactively (7 years) even though I continued to work or can I only claim from the time I stopped working?

Mike

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