Canada Income Tax
April 30, 2008 11:27 AM   Subscribe

I have never filed my taxes in Ontario, Canada before. Are there any benefits to doing so even if I have no income to declare?
posted by alse to Work & Money (8 answers total)
 
Best answer: At the minimum, you will get the GST credit (assuming you are over 19), which will make the 1/2 of work required well worth it. You can file online for free through one of the online tax filing services, since you have no income.
posted by ssg at 11:38 AM on April 30, 2008


Best answer: Free tax credits!!! Usually good for $100 + GST credit.
posted by saradarlin at 12:10 PM on April 30, 2008


Best answer: The GST credit is about $60 every 3 months. It's pretty sweet.
I don't know about the $100 credit though. My accountant said that it was only for those who were declaring income.
posted by snoogles at 2:52 PM on April 30, 2008


Best answer: Are you in school? Tuition credits can be saved up and used when you do actually have an income. Might get a hefty tax refund for your first year or two of income.
posted by captaincrouton at 3:01 PM on April 30, 2008


Best answer: Property tax credit!

Applies whether you rent or own (though if you're in a student residence, the maximum is $25). I'm a student living off-campus, and filing in Ontario for the first time gets me an extra $250 from that, alone. Also, their sales tax credit is $100. Plus, the tri-monthly GST rebate... you've got lots of reasons to file.

See: http://www.cra-arc.gc.ca/E/pbg/tf/5006-tc/README.html

(FWIW, I get back 4x what I used to get back when filing in my last province).
posted by astrochimp at 6:08 PM on April 30, 2008


Best answer: (Also, all of the above applies even if you're not a student).
posted by astrochimp at 6:10 PM on April 30, 2008


Response by poster: Thanks for the answers! Would I be able to also file my 2006 return and get all the tax credits I missed out on?
posted by alse at 8:17 PM on April 30, 2008




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