Child import tax benefit and taxes reassestment Need Help?
Question:
Hey I have a friend that only just sent a bill from revenue canada for $22,000.00. She was not sufficiently expert to prove that she wasnt living in a adjectives law relationship because she be living with her parents and have no bills. She was married ending year and now her and her up to date husband are expected to pay spinal column all this money. Is in attendance anything the can do? She was told that she could over a settlement anybody know anything of this? They really entail help, they enjoy low income and they are now taking her child export tax credit since she owes them $10000.00. They have contacted revenue canada and they want a donation of over $800 a month. And they really can't afford that they are going to try to remortgage but need planning of what else they can do.
Answer:
Hello, I carefully read your cross-examine, and I have some guidance for your friend.
Firstly, anytime that there is a amend of marital status, it is the taxpayer's responsibility to notify CRA hastily by submitting a form called RC65, MARITAL STATUS CHANGE, which can be found at CRA's website:
http://www.cra-arc.gc.ca/e/pbg/tf/rc65/r...
If your friend has-been to do so, and had no written proof, such as a court directive, that she was living apart from the parent of her child(ren), and file her prior tax returns base on being separated, fluently she would be reassessed.
It is the taxpayer's responsibility to be able to support claims that are made on his/her export tax return. If your friend was formerly married or adjectives law, and moved near the children back to her parents' home, but have no court orders for child support, custody, etc., how can she prove her travel case?
For your friend to owe as much money as she does indicates that this has be going on for many years, and when CRA asked for proof that she is not adjectives law, she have failed to quench CRA on that issue.
She has be reassessed on the child tax benefit that be previously paid to her base on her income alone, as it appears that CCTB has recalculated her entitlements to include her former spouse/common imperative partner's income, and now it have been determined that she be overpaid.
If your friend and her new husband provide full financial disclosure to CRA, I am sure that CRA would be capable of accept a clearing arrangement that would be within affordability.
Hope this information help you.
EDIT @ 12:40 PM APR 22
Hi again, I just read your superfluous information, and the answer is NO.
CRA will NOT accept a mediocre amount than what your friend owes.
The CCTB money is not being charged interest or penalty, and she is therefore required to repay the full amount. CRA would not be movable on CCTB whatsoever.
If part of the money she owes is GST export tax credits, this also is not subject to penalties nor interest, and she would enjoy to repay any overpayments of the GST back within full to CRA.
If any part of the money that your friend owes is the result of reassessments of taxes, i.e., federal and adjectives, she would be required to repay the amount of these taxes in full.
It is on these amounts that she would enjoy been assessed interest and penalty, not the CCTB and GST amount.
From my 27 years experience in representing clients on contribution arrangements with CRA, I hold yet to see CRA waive any interest or penalty on reassessments on taxation amounts owing.
I can also attest to this being the satchel from the flip side of the coin, as I was a GST collections officer for CRA several years ago, and there be NEVER a time when CRA would accept a lump sum allowance for a lesser match outstanding and call it even.
Your friend, unhappily, is going to be faced near a payment arrangement near CRA until all of the arrears are repaid surrounded by full.
I hope this additional information help you.
Tax % for min wage?
Question:
I am working Min wage, and I want to know the percent of tax contained by Oklahoma for
FICA EE
MEDICARE
RED W/H
OK W/H
P.S.
I work for Dollar General
Answer:
FICA is social security you retribution 6.2% I think close to this
Medicare you reimburse 1.4% I think but close to this.
your employer also have to match what you discharge although you never see this and may not realise it. The income tax put somebody through the mill needs more detail to answer but at minimum wage across the world you would pay completely little in federal levy, I have no clue something like Oklahoma tax.
Medicare and FICA are unmoved by the size of your wage--percentage together is always give or take a few 10%.
You may not even be required to pay federal income taxes, depending on file status and exemptions.
FICA EE is 6.2% for the first $94,200.
MEDICARE is 1.45% of all income.
FED W/H depends on how frequent allowances claimed on you W-4 and the $ amount of pay per week. It should not be more than 10% at minimum wage.
OK W/H = 3%
I coupled both Federal and OK withholding tables below.
Where you work make no difference.
Most EU immigrant dont money uk coup¨¦ rates. should we articulate yeah upright luck to toll evaders?
Question:
Answer:
European law states that adjectives vehicles must be fully roadworthy, i.e surrounded by posesison of a valid, legal MOT, a valid tag of registration and have compensated taxes in the country the vehicle is registered within, and with those one can buy insurance, a further official requirement, without any of the former, the insurance is invalid.
How would you have a feeling if your car be hit by one of these, your car is a write bad and you are seriously injured and cannot work, who's going to cover the costs if the other driver is not correctly insured? You will ultimately, with a rise within the premuims and the loss of your no claims. Same applies too, if you were a pedestrian and hit by an uninsured driver.
Even if the other driver have all the correct paperwork, and is fully insured, they will singular be covered for a maximum of 90 days outside of the country their vehicle is registered in....
It also does not follow rightfully that a vehicle registered and even inspected, but not insured in the counrty of registration, but within the country its being driven contained by, this situation is also against EU laws and here contained by Spain, the Guardia Civil are stopping such vehicles and giving them a 30 interest to re-register their car.
Whoever think that driving a vehicle without correct paperwork and documentation is OK, they are the most stupidest those around and I hope they never sit behind the rudder of a vehicle
If they have no vehicle tax next their car insurance (if they own it) is also invalid... meaning if they crash and disfavour your car... you would be unlikely to catch any payout from their insurers.
thats totally unfair anyone who uses the road should own to pay toll for it
Certainly not,we have to income so should they it's only gala.
eh? if you live in England and pilfer your car in a foreign country for 6 months, do you buy tax from that country? i presume not.
If they are driving On UK Roads they should pay due like the rest of us
Bit standard sweeping statement there! All duty dodger should be caught and have thier cars crushed beneath the new directive! If you are not taxed your not insured what happen when it goes wrong!
Who told you that??
It is not the skin!
Every one in EU have to have insurance and once they enter UK beside their cars they haveto pay road duty.
The police is out there checking cars for MOT, insurance and road rates.
Trust me, these immigrants clear UK work so stop being a ***** and mind your own bussines!
CANADIANS ONLY! I am an artist; I typically charge GST lying on my fees. Do I charge non-Canadians GST?
Question:
I'm getting work from other countries.
Answer:
Hi Rocket,
I need some clarification on some points until that time this can be answered properly.
You say that you are getting work from other countries. Is this work coming from individual consumers or from businesses? Secondly, do you ship your finished product to the customer, or does the customer thieve posession of the goods contained by Canada?
Generally speaking, if the final product is exported outside of Canada by the Canadian supplier then the appropriate or service is zero rate, which means you don't collect the GST.
From RC4007 - Doing Business In Canada - GST/HST Information for Non-Residents
"Goods exported from Canada by a Canadian wholesaler are generally zero-rated. If the stuff are delivered or made available to you outside Canada, no GST/HST is charged."
However, if the purchaser for doesn`t matter what reason come to Canada and took possession of the product in the country you would own to charge GST.
Cheers!
EDIT 8:25 PM Saturday April 21
Hi again,
Yes, the details help, thank you.
If you are sending a completed product outside the country afterwards that is nought rated, as per the inventive quote.
When you complete and sell pure artwork, that to is nothing rated. Later on within the linked CRA guide it states:
************************
Services
We commonly zero-rate services that are performed surrounded by whole or surrounded by part contained by Canada for a non-resident. However, exceptions apply to this general provision for zero-rating services.
Individuals
If you are the receiver of a service and you are an individual, you have to be outside Canada throughout the time the service is mortal performed for the service to be zero-rated. Personal supervision, entertainment, restaurant, and lodging services, as well as repair services on a vehicle, rendered while you are contained by Canada, are not zero-rated.
To determine if you are outside Canada while a service is being perform, we look at the following:
you may be in Canada, but the purpose of your stay may be totally unrelated to the zero-rated service human being performed; and
you may be surrounded by Canada, and you may retain the services of a registered person who does not charge you for the services provided. This provision does not apply to any subsequent contract between you and the registrant while you are surrounded by Canada, or to any chargeable fees you pay while you are within Canada for reasons related to the deeds of the service.
*****************************
That seems to cover what you're axiom you do. If you want to be sure go ahead and name the CRA number, as it can't hurt.
Hope that helps!
Hi Rocket, great give somebody the third degree, and I have a positive answer for you, since I was a former hand of CRA (on contract) in the GST collections department.
The answer is YES. You are required to charge EVERYONE GST on your fees...NO EXCEPTIONS!
If the party or company with whom you are doing business near is also a GST registrant, then they would know how to claim the GST which was remunerated to you as an GST imput tax credit on their GST Return when they directory their GST Returns.
If the person or company are not GST registrants, they are still required to wages the GST that you are legally required to collect and remit.
I hope this information help you.
ADDITIONAL INFORMATION @ 7:43 PM
Hi again Rocket, thank you for your email and for clarification of your question.
I read the response from Ont CGA, who raise a valid point about the finished product disappearing the country, and whether the goods would be nought rated base on export.
You are technically providing a service, of which the work is being conducted here within Canada, and the finished product is sent via email to your clients.
When you registered for your GST number, did you explain this aspect of your business to the GST department?
Perhaps at the time you registered, you didn't know whether you would be dealing with those outside of Canada, so it's slightly possible that this was not of concern to you support then.
Personally, I don't imagine that any part of your work would be excise exempt, but I think it would be within your best interest to contact the CRA's GST division and get a firm ruling on this.
I must own up I never encountered this skin scenario in my previous employment on contract near the GST collections department, so unfortunately, I can't supply you a cut & dried answer on this.
The number to call for the GST department is 1-8OO-959-5525, and ask to speak to a senior officer, since he/she would definitely be able to endow with you a ruling on whether sending the finished product via email to an outside country would qualify as zero rate.
I hope this additional information help you.
Where can I database my state and federal taxes for free?
Question:
Yes I know I'm waiting until the last minute. That's only how it's worked out this year. I've done some looking but thought I would ask you guys for your input.
Answer:
Here's a link to the IRS free efile page. If you made beneath $52,000 in 2006, afterwards you qualify to efile for FREE!
http://www.irs.gov/efile/article/0,,id=1...
Better hurry up and get it done today because presently it's only a event of hours! :)
steps:
1. go to city mayor (no business permit)
2. dance to assesor's office ( no property)
3. move about to land transportation organization ( no car registrations)
4. progress to hall of sprite ( certificate of polite income)
5. back to BIR
put it surrounded by an envelope and mail it. yes, that costs 39 cents, but save you a trip to regional irs office which probably will cost more
If tds is applicable for the software licencse compensation what is the rate?
Question:
Answer:
I don't know if they will fit a qualification that you're looking at, but public schools are non-profit organization, they're not government office.
Definition of "from California sources" for 540NR. Are dividends from E*Trade considered "from CA sources?
Question:
I have to profile California state tax 540NR. Since I am not a CA resident I enjoy to pay taxes on income "from CA sources". I hold received interest and dividends from E*Trade. Is that "from CA sources"? How do I know if income shown on 1099DIV statements are from CA sources?
Answer:
Investment and interest income is generally sourced to your state of residence unless it is income from a business. So, no, interest and dividends from e-trade are not sourced to CA within your case.
No, that won't be from CA sources. The solitary thing you'll include is your wages or other income directly earn in CA.
Wat is the levy rate for italian working within india earn 12720 euros per month workingfor NHAI as Engeenier?
Question:
our Teamleader is an Italian working in india for NHAI as Teamleader for constructing highway, he earns 12720euros per month, NHAI transfers his gross to his company which is in Rome. Pls tel me what is the duty rates for this Income that he should pay and that details.
Answer:
Tax rates are same for adjectives Individuals who earn their salary surrounded by India except for those who happens to be on roll of UN or its associate bodies resembling UNICEF etc. In such case NHAI is liable to discount TDS from the salary of the member of staff. If the agreement of NHAI with a faddy consultant speaks that Taxes shall be born by the employer, then NHAI is liable to wages Income Tax to the GoI from its own sources.
Sirwe can use service levy input for not depost service excise payable every month ( Only baggage of Service tax)?
Question:
Answer:
What I could gather to my knowledge of your question, you are not required to deposit the collected service duty monthly but wish to use the collected amount of service tariff for some other purposes meantime - till your statutory date of deposit. If my this understanding of your interview is correct, the answer is that you may use these funds the way you yearning to, but remember to keep an accurate commentary of such money on account of service export tax collected and deposit the same beside the treasury well beside the required date. The Service Tax Act doesn't require maintaining a separate details or money so collected but want compliance of the deposit by due date.
Sir We must also prepare and submit quarterly reports. He must Hire a Chartered Accountant to do it correctly.
service tax is required to be rewarded by the 5th of the following month i.e. for month of april by 5th of may, it can be paid within money or by using credit available in the service rates input credit account at 30th april (for month of april) and so on.. Also partly yearly returns are to be submitted. Service Tax Input credit is allowed to be used subject to enduring conditions like the input service is used for providing output services to customers. Bills must enjoy the Service Tax registration no of the input service provider and some more informations like that. For more information, you may refer to the CENVAT CREDIT RULES,2004 available on the site of www.cbec.gov.surrounded by
It can also be used for payment of Excise Duty!!
Latest SLR/CRR prescribed by RBI?
Question:
Answer:
CRR is 6.25% and SLR is 25%.
http://www.rbi.org.in/home.aspx...
don't no
THE LATEST RATES ARE :
SLR :25%
CLR :6.25%
California excise extensions?
Question:
Hi. I thought that the deadline for filing for a federal rates extension, and the dealine for the california state extension were like peas in a pod. Then I heard from someone that they're not, and that the CA extension have to be filed a sunshine earlier. Is this right? I'm not sure what to do very soon. Also, is it possible to file a california extension a sunshine late (4/17), or can I only just not file an extension in a minute? If it's too late, what will the penalty be? Unfortunately, I do owe money, although not a lot. Thanks!
Answer:
For file extension, check this link:
http://tax1040.blogspot.com/2007/04/how-...
It is a automatic extension for CA state, but you hold to pay money to IRS formerly due date, if you owe money. Otherwise there may be cost and interest. Check CA state FTB site for this. http://www.ftb.ca.gov/
CA follows Federal for the filing deadline though not adjectives states do. Check the FTB website; it explains it all in that.
For income - charge related?
Question:
for a.y. 2007-08
give me income toll rate for individual,huf,partnership firm,corporate.
standard deducation for salarised person
deducation available for individual
any rebate?
and also civilizing sease tax
Answer:
No Standard speculation is available Ay 2006-07 for income from the head salary.
No rebates are within.
Although finance bill is not all the same been approved the untouched propsal is as follows.
Tax rate is as follows
For individuals resident woman {not being a senior citizen (who is of 65 years or more at anytime during the previous year)}
Net income list income tax rate
Upto 145000 nil
145000 to 150000 10% of (TI-145000) + 3% background cess
150000 to 250000 500+20% of (TI-150000) +3% education cess
250000 to 1000000 20500+30% of (TI- 250000) +3% lessons
cess
above 1000000 245500+30%of (TI-1000000) +10% of income tax Surcharge + 3% of income rates and surcharge
For resident senior citizen (who is of 65 years or more at anytime during the previous year)
upto 195000 nil
195001 to 250000 20% of (TI-195000)+3% edu cess
250001 to 1000000 11000+30% of (TI- 250000)+3% edu cess
above 1000000 236000+30% of (TI- 1000000)+10% sc
+3% edu cess
For any other individual, every HUF/AOP/BOI/Artificial juridical person
upto 110000 nil
110000 to 150000 10%of (TI - 110000)+3% ec
150001 to 250000 4000+20% of (TI-150000)+3% ec
250001 to 1000000 24000+30% of(TI- 250000)+3%ec
above 1000000 249000+30% of (TI-1000000)+10% sc+3%ec
* ec Education Cess
* sc Surcharge
* TI Toal Income
Following are the different items where on earth you can invest to get a maximum conjecture of 1 lac u/s 80 C
1.LIC insurance premium (including payment made by govt force to the central govt employees' insurance plan and payment made by a personality under children 's defered endowment assurance policy){subject to a maximum of 20% of sum assured}
2.Amount deposited as permanent status deposit for a period of5 years or more accordance near a scheme framed by the govt (applicable from Assessment year 2007-2008)
3.Payment contained by respect of non-commutableDeffered annuity plan
4.Any amount paid as tuition allowance (not including any payment towards nouns fees/donation/payment of similar nature) whether at the time of admission or otherwise to any university/college/educational institutions contained by india for full time education
5.Salary deduct by employer (incase of Govt employee)
6.contribution to Statutory provident fund and RPF.
7.contribution towards 15yrs PPF
8.contribution towards approved superannuation fund.
9.Subscription to National Savings Certificate VIII issue.
10.contribution for participating in the ULIP of UTI
11.contribution for participating contained by the ULIP of LIC mutual fund
12.Payment for notified annuity plan of LIC or any other insurer.
13.Subscription towards notify units of Mutual Fund or UTI
14.contribution to notify pension fund set up by Mutual fund or UTI (i.e retirement benefit allowance fund of UTI)
15.Any sum paid including accrue interest as subscription to home loan account classification of the National Housing Bank or contribution to any notified allowance fund set uo by the national housing Bank.
16.Any sum paid as subscription to any endeavour ofa> public sector company engaged within providing long term nouns for purchase/construction of residential house in India.b> housing board constituted within India for the purpose of planning, development or overhaul of cities/towns.
17.Any amount towards the cost of purchase/construction of aresidential property (including repayment of loan taken from Govt. bank, cooperative edge,LIC,National Housing Bank,assessee's employer where such an employer is a public company/public sector company/university/co-operativ... society)
18.amount invested within approved debentures of, and equity shares in, a public company affianced in infrastructure including power sector or unit of amutual fund proceeds of which are utilised for the developing, maaintaining,etc of a new infrastructure facility
Following are the few more from Income excise
80 CCC pension fund
80 CCD contribution to income scheme of middle govt.
80 D mediclaim insurance premium.
80 DD maintenance including medical treatment of a dependant anyone a person next to disability.
80 DDB medical tratment for specified diseases.
80 E Repayment of loan taken for higher coaching.
80 G Donations to a certain funds, charitable institutions etc.
80 GG Rent remunerated
80 GGA Donation for scientific research or rural nouns
80 GGB Contribution to poltical parties lone for indian companies.
80 GGC contribution to poltical parties.
80 IB dedcution inrespect of clean industries , hotels etc commencing on or after 1st April 1991
80 IC Deduction inrespect of profits and gains of infallible undertakings or enterprises within certain special category states
80 JJA Deduction surrounded by respect of profit from the business of processing of bio degradable waste.
80 JJAA Deduction contained by respect of employment of new workmen.
80 LA Deduction contained by respect of certain income of Offshore bank units.
80 P Deduction surrounded by respect of income of cooperative society.
80 QQB Deduction in respect of royality income of authors.
80 RRB Royality on patent.
80 U Deduction in respect of lifelong physical disability
Whatever you have asked for is adjectives standing in the shape of proposals solely as on this day (17th April 2007). Finance Bill for the year is but to be passed by the Parliament. Till the Bill is passed, it won't be effective - even though it could lately be a formaility.
the proposed slabs are as follows:
INDIVIDUAL(other than Women & Senior Citizens)
0 - 110000 NIL
110001 - 150000 10%
150001 - 250000 20%
250001 - above 30%
Plus Education Cess @ 3% Surcharge (applicable above Gross Total Income of Rs 10 Lacs) 10%
INDIVIDUALWomen
0 - 145000 NIL
145001 - 150000 10%
150001 - 250000 20%
250001 - above 30%
Plus Education Cess @ 3% Surcharge (applicable above Gross Total Income of Rs 10 Lacs) 10%
INDIVIDUALSenior Citizen
0 - 195000 NIL
195001 - 250000 20%
250001 - above 30%
Plus Education Cess @ 3% Surcharge (applicable above Gross Total Income of Rs 10 Lacs) 10%
COMPANY/FIRM
30% PLUS SURCHARGE PLUS EDUCATION CESS (Surcharge is proposed to be removed in skin of some companies)
STANDARD DEDUCTION FOR SALARIED PERSONS
It was finished some two three yrs vertebrae, so no standard deduction.
Deductions
Medical Insurance, Mediclaim, Investments of undisputed types, LIC premium, Tax Saver Fixed Deposits, Equity Linked Saving Schemes investments, Deduction for maintenance of handicapped relative, Education Loan Repayments, and for more refer to the Income Tax Act Chapter VI-A available on the lattice (Do G00GLE Search)
No SD
no tax upto 100000/-
10% upto 1.5 lac
20% upto 2.5 lac
Aboe 2.5 lac, 30%
You are supposed to know how to grasp w-2 wage statements past its sell-by date of the Internet! How?
Question:
how do I get w-2 wage and proceeds statemnt off of the inter network for the 2006 income tax year?
Answer:
You can individual get them rotten the Internet if your company offers that service. A few do, but most don't. Ask your employer if they propose the service and how to access it if they do.
You cannot get these from the internet.
u can record free online
Not necessarily - you can only seize them off the Internet if your employer have them there - some do, some don't. Call the employer, they can relate you.
Want loan of rs.1400000 for buying place surrounded by nasik,make clear to me road out?
Question:
Answer:
Most of the commercial banks and Financial Institutions are flushed beside plentiful liquidity/funds. Walk in beside your proposal to a few of them, let them assess your unaffectedness, capacity to wage back and pause use, they will be more than happy to nouns you.
Go to the recognised financial institutions like HDFC etc..
If the Native Indian does not income taxes why on planet do they contemplate they can run Canada,as they do? Tax them?
Question:
Answer:
Because they are impending the international law.
Oh, So I suppose the British and French colonizing Native Indian lands shouldn't be in motion unpunished?
as a native american, we do enjoy to pay taxes where on earth did you hear that we dont? The only place where on earth they're are no taxes is in canada. And we dont RUN canada and if we did it would be because we be thown out of our homes and shoved to the side years ago.
you need to look up your law , no one is exempt from paying income taxes. On reserve parkland, sales taxes are removed on items, but not every local uses this benefit either.
I don't be aware of that they do run Canada. They do pay income taxes, in actual fact, unless they actually work on a reserve. There are some stores that dispense them a tax break for their business, even bad reserve, but the stores have to hold your attention that themselves unless they deliver the item to the reserve.