Tagged Questions

For questions that relate to the laws, practices, and products of the Canadian province Ontario.

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9
votes
1answer
206 views

Defer bonus pay to next year

My employer offers the option of deferring my bonus payment to 2015 i.e instead of taking it in December, I have the option of taking it in 2015. Now, I understand if I was planning to retire/quit in ...
1
vote
0answers
75 views

Should I encourage my spouse to jointly sign our rental lease?

Looking for the advantages/disadvantages for us as a couple. We have been common-law for 9 years and are moving into a new place. My spouse recently lost her job so I will potentially taking most of ...
2
votes
1answer
364 views

If my rental property income and mortgage payment are equal, do I need to pay income tax on any rent revenue?

Let's say I have a monthly mortgage payment of $1600 on a condo I own, and the condo is rented out for $1600. Then, I'm breaking even. Hence, I would not need to pay any tax on my rental income. Would ...
3
votes
1answer
46 views

Do I need to register as self employed in Ontario, Canada?

I am moving from UK, where I am registered as self employed under my own name, to Ontario, Canada. In Canada I will be both employed in a full time job and self employed, making a small amount of ...
1
vote
1answer
43 views

Can Ontario university students apply for the “30% off Tuition” or any other significant grant offered by OSAP if they attend school outside Ontario?

My daughter is on her way to Dalhousie this fall. I'm almost certain I read (a few months back) that she was eligible for the Ontario 30% but now it appears as if she is not (maybe I originally ...
1
vote
1answer
63 views

Is there any way to split income between the partnering corporations, legitimately, so the HST charged matches what is charged to the customer?

I have an unusual case I was hoping someone could shed some light on. I have an Ontario based Corporation which sells a piece of software and some computer based services. The buyers are from various ...
0
votes
1answer
469 views

How does Ontario's income surtax differ from simply modifying tax brackets? [closed]

What are the costs and benefits of the income tax surtax in Ontario? Ontario charges a surtax on tax above a certain amount. An overview of the numbers is available at ...
2
votes
1answer
802 views

What income bracket(s) are eligible for the GST/HST credit in Ontario?

As per the information on CRA website, the eligibility for GST/HST credit is met if any one of the below are true: You are 19 years of age or older before the month in which we make a ...
2
votes
1answer
237 views

Should the cost of using public transit get deducted from my personal income or my corporations' income?

As a full time employee, certain costs are deductible from personal income. (e.g cost of public transit pass.) When the full time employee becomes an independent contractor, do these expenses ...
2
votes
2answers
1k views

Do I need to file taxes jointly with my girlfriend if we live together?

Before I met my girlfriend, I lived in a condo. Now I rented it out and I live with her and pay her rent. Now we are not legally married or signed common law agreement or anything like that, but I ...
1
vote
1answer
93 views

Common-law separation, splitting savings/debt

Scenario: Two people join enter into a common-law living arrangement. One person has a savings account, the other person has a debt. If anything goes wrong, is there any way the person with the ...
4
votes
1answer
2k views

How to pay myself as a single person corporation in Ontario? Should I get an accountant?

I'm an IT contractor and required in some of my contracts to have a corporation. I created my corporation, opened a corporate account and have been collecting income for about 6 months now... ... I ...
4
votes
1answer
387 views

Family/divorce lawyer wants large retainer before taking on case. Is this normal?

My friend needs to get a separation agreement and divorce. The law firm she called asked for a retainer of several thousands of dollars up front before doing any work. Is a large retainer normal for ...
2
votes
0answers
73 views

HST for a new home in Ontario, a first time home buyer

I am planning to buy a new home for 830,000, what is the HST calculation? Can HST be paid together with the mortgage? Thanks.
0
votes
1answer
2k views

Ontario new home/condo HST rebate: What is the price without HST if the price is $400,000 including HST?

What is the actual purchase price of a new condo without HST, if price is $400,000 including HST? The condo is in Mississauga, Ontario and the buyer is not a first time home buyer.
2
votes
0answers
388 views

HST rebate when buying a vacant piece of land / lot and building one's own new home on it?

I am looking at buying a vacant piece of land from a developer and building a house on it. I realize I must pay HST on the purchase of the land. If I act as the contractor/builder of my new home, ...
3
votes
1answer
203 views

Ontario HST Rebate: What was the mailing date of the June, 2011 HST rebate cheque?

What was the date that the June, 2011 HST rebate cheques were mailed? I have my bank statement that covers up to June 17th and the HST cheque was not deposited by that time.
1
vote
1answer
208 views

Ontario HST Rebate: Filed taxes, but haven't received HST payment for December 2010?

I have still not received my HST refund payment for December 2010. When can I expect to receive my refund? I filed my taxes and have just paid my balance of taxes owing, but still have not received ...
2
votes
2answers
186 views

Ontario HST rebate: I am now 18. Do I get the last rebate cheque?

I turned 18 in September 2010. I filed my income tax for 2010. Will I receive an HST rebate cheque for June 2011? How much could I expect?
1
vote
1answer
75 views

Best sources of real estate information for Toronto, Ontario, Canada?

When I want info about stocks/funds/bonds, I can turn to many sources of information. But, for real estate investments, what is the most reliable source of information? e.g. Prices, whether to rent ...
3
votes
1answer
143 views

Ontario HST rebate: Would my child's dependent status change when he/she turns 18?

My daughter turned 18 in January 2011. She is still in school and still living at home. I am a single parent. Is she considered a dependent for the family rebate or would we each be classified for the ...
2
votes
3answers
283 views

Ontario New Home Tax Rebate

I've been doing a lot of research on the new home tax rebate. There is a house we want to buy, listed with a realtor - the seller who owns both the land and the house is a builder (he bought the land ...
3
votes
3answers
1k views

What are the consequences of not respecting a notice period when leaving a job?

In Canada, is there a federal law of how much notice period an employer can demand? I thought the standard was 2 weeks, but then re-reading the fine print in the offer letter, I see it says : You ...
2
votes
1answer
625 views

How is the adjusted family net income calculated for the Ontario Sales Tax Transition Benefit (OSTTB)? What is included in that adjustment?

How is the adjusted family net income calculated for the Ontario Sales Tax Transition Benefit (OSTTB)? What is included in that adjustment?
2
votes
2answers
5k views

Ontario HST rebate: When in December 2010 will we receive our HST cheque?

Does anybody know when in December 2010 we will be receiving our HST cheques?
2
votes
2answers
531 views

We received the first HST payment but we got a notice of an error. Will we still get our next HST payment?

We received the first HST payment. However, something was wrong on our taxes. We got a notice a week or so ago saying that we now owe, because our rent receipts -- that we handed in -- got lost. ...
3
votes
1answer
825 views

Will 5 years on OSAP's Interest Relief result in a one-time, permanent loan reduction on the order of 50%?

I was told by a friend that if you qualify for OSAP's Interest Relief for 5 consecutive years, then OSAP will offer to perform a one-time permanent Loan Reduction. This Loan Reduction, as I'm told, is ...
2
votes
2answers
554 views

What should I consider when buying land as an Investment in Ontario, Canada?

I was bored the other day so I was looking through the real estate listings up in Cottage Country. I noticed a plot of 4 acres of land for sale for $30,000. I was wondering what one should consider ...
1
vote
1answer
5k views

Ontario HST: How to calculate new homebuyer's HST housing rebate?

I'm buying a home from a develpoer, and I qualify for the first time homebuyer rebate. I'm wondering how Ontario's HST rebate for first time homebuyers is calculated. The paragraph below is taken ...
2
votes
1answer
690 views

Ontario HST rebate: I live in Quebec. Are the rebate cheques for Ontario residents only?

HST cheques are for Ontario residents only? Thought it was Canada. I live in Quebec. So we don't receive a cheque? But will have to pay the HST on all items purchased?
1
vote
1answer
440 views

Ontario HST rebate: My husband is moving to Canada and does not yet file Canadian taxes. Will we still qualify for the HST rebate?

I was just married this past October, but my husband is from the US and would obviously not have filed for income tax in Canada. As he is trying to immigrate here, I am currently the sole support for ...
1
vote
1answer
271 views

Ontario HST rebate: Do common-law couples qualify for the couples (family) rebate?

Do common-law couples qualify for the couples rebate?
2
votes
1answer
1k views

Ontario HST rebate: Newly married. Can I change to married status for HST rebate?

I recently was married in April 2010. I received my HST rebate of $100 as a single individual, and my husband didn't receive any. As a couple we would qualify for the $330. Can I change to the ...
3
votes
1answer
310 views

Ontario HST rebate: Canada Student Loan debt in default. Can they take my transition rebate?

I don't owe the Ontario government anything - not even student loans - but I do have a defaulted Canada Student Loan in default. Can they take my transition rebate?
5
votes
1answer
1k views
1
vote
3answers
2k views

Ontario HST rebate: Do you still get the HST cheque if only one spouse has filed their taxes?

What happens if one spouse has filed their taxes and the other has not? Do you still get the family HST rebate cheque?
1
vote
1answer
2k views

Ontario HST rebate: Is eligibility based on gross or net income?

Is the HST rebate eligibility - of up to $166,000 combined income per couple - based on gross income or net income?
1
vote
1answer
475 views

Ontario HST rebate: How does it work for a single parent with joint custody?

I'm a single father with joint custody of my son... Just wondering what rebate I will get? ... the $100 or $300...?
2
votes
1answer
91 views

Ontario HST rebate: Does a single parent of an 18 year old qualify for the maximum payment?

As a single parent of an 18 year old, am I still considered a single parent?
1
vote
1answer
508 views

Ontario HST rebate: Do widowers fit into the “Couples” category, i.e. $1000?

There are 2 categories for the HST tax credit, that determines the dollar credit ie. $300 or $1000. The categories are 1) A single person with no child or 2) Couples or Single Parents. Would a ...
2
votes
1answer
1k views

Ontario HST rebate: Does each person in the same home get the HST rebate if they file their own taxes?

Does each person in the same home get the HST rebate if they file their own taxes?
1
vote
1answer
929 views

Ontario HST rebate: Is there such a thing as $500 HST transition cheques, or is it $335?

Some friends have mentioned getting a $500 government rebate mailed to them... Is it possible that an amount of $500 be payable for the HST transition, or could this be for something else? It seems ...
3
votes
1answer
75 views

I am married and currently being sponsored. I have a taxation number when filing taxes. How much HST rebate will my family receive?

I am married and currently being sponsored. I have a taxation number when filing taxes. How much HST rebate will my family receive?
2
votes
2answers
3k views

Ontario HST rebate: Would I be receiving a cheque if I owe Canada Revenue Agency (CRA)?

Would I be receiving a cheque if I owe Canada Revenue Agency?
1
vote
1answer
294 views

Ontario HST rebate: I'm a single individual now, but I'm expecting in July. Would I receive the family rebate amounts later?

I am a single individual now, so I'd be receiving $100 in June. But, I'm expecting in July (will be a single mother.) Will a change in the rebate amount come for December and so on? Would I be ...
0
votes
1answer
521 views

Ontario HST rebate: Would a single mom of 6 children get more of a rebate?

Does the calculation for the Ontario HST take into account factors such as dependents? Would a single mom of 6 children get more of a rebate?
2
votes
1answer
2k views

Ontario Sales Tax Transition Benefit: Can you still get first cheque even if 2009 taxes are filed later?

If a person hasn't filed his or her tax return for 2009 before the cheques are mailed out in June 2010, will they still receive the payment after they file the return, or are they out of luck?
2
votes
1answer
3k views

Will the Ontario HST rebates be direct deposited, or mailed, or both in June 2010 and 2011?

Will the Ontario HST rebates be direct deposited, or mailed, or both in June 2010 and 2011?
2
votes
1answer
119 views

When does the HST impact pre-purchased services in Ontario? [Canada]

Some services will be impacted earlier than July 1, 2010. What services are impacted and what date does the full 13% get charged?
4
votes
1answer
993 views

Ontario HST rebate: When would I qualify?

I turned 18 in January 2010 and I filed a 2009 income tax return. When will I qualify to receive the rebate?