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Thread: Canadian Taxes (For you Scarlett)

  1. #1
    Cally
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    Default Canadian Taxes (For you Scarlett)

    Okay since I cant use my PM's I figured this was the next easiest way. I didnt do my taxes for 2004... so now I have to do my 2004 and 2005 taxes together. My problem is since i've moved so many times i've lost my T4's(they got mailed to last addresses and yea just a mess). Im not worried about that, im sure I can track them down from the companies.

    My biggest worry is for 2005 I worked as a contractor at a stable, they paid me in cheques but they were not taxed. I have lost records, the stable went under new management and they are not sure they can find the records(I have contacted them). If they can not find records what can I do about this? I didnt always deposit my cheques in the bank, sometimes I would cash them with a lady who ran a resteraunt at the stable. Seriously my financial records are everywhere. I am guessing I am going to have to bite the bullet and go to an accountant... im just hesitant because they charge so damn much and I still might be lost.

    Im not overly worried about my dancing, I get reciepts for my shift pay and I honestly didnt start making much until the last couple of months so im just going to take a guess at the amount I made in dances for this tax term. I've started keeping record for next year.

    Any advice .... someone PLEASE point me in the right direction because this kind of stuff completly boggles my mind

  2. #2
    God/dess
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    Default Re: Canadian Taxes (For you Scarlett)

    I'm with you Cally. So lost. I don't know if I'm supposed to claim my scholarship for school?

  3. #3
    God/dess scarlett_vancouver's Avatar
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    Default Re: Canadian Taxes (For you Scarlett)

    Molly- you have to claim the amount of your scholarship that exceeds $3000. There is a line on your tax forms specifically for this. And you can still deduct the monthly living expenses.

    You're both probably best off going to an accountant, but if you want to do them on your own don't hesitate to ask me any questions. Don't go to H&R Block, btw. Try to find one that specializes in filing for 'Independent Artists' (the category dancers claim under). We have it so good in Canada...if you save all your receipts, you can conceivably pay $1000 a year in taxes, honestly. We can deduct a LOT.

    Cally, concentrate on 2004 this month, and do 2005 next month. This month, you need to get those T4s. Were you an employee the whole year? If so, your taxes will be super easy, you can do them on your own.

    Tax software is great. I use ufile.ca because it's subsidized by the CFS and so is free for students. It's straighforward, it will just ask you questions and then you answer them.

    I would suggest you guys go to the site (www.ufile.ca) and just play around...you can make up a fake tax return just to see how it all works.

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