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Canadian taxes

Taxes

Free Tax Preparation For Canadians On Social Assistance

Many people don’t realize it, but filing a tax return on time is especially important for people who rely on social assistance, because it triggers many government benefits such as the Canada Child Benefit.  Families that don’t file their taxes by the deadline risk having their benefits interrupted.   Filing a tax return doesn’t have to be expensive.  In fact, there are several free options:

  • H&R Block is offering free tax prep at participating locations for people on social assistance until February 24th (see media release below)
  • Canada Revenue Agency holds volunteer tax preparation tax clinics in some communities (http://www.cra-arc.gc.ca/tx/ndvdls/vlntr/clncs/menu-eng.html)
  • Many online tax filing options are free to people earning less than $20,000 (H&R Block online, Studio Tax, etc.)
  •  Pick up tax forms from the post office and go the traditional pencil and paper route

H&R BLOCK CANADA OFFERS EXTRA HELP THIS TAX SEASON

Free tax preparation for Canadians on social assistance

 CALGARY, Alberta – (January 30, 2012) – H&R Block Canada is expanding its free Block Builders tax program for a limited time to help taxpayers on social assistance or Universal Child Care Benefit (UCCB) or both get their tax returns prepared at no charge at participating locations until February 24.

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January 31, 2012
Taxes

Are You Missing Out On Tax Refunds?

H&R BLOCK CANADA FINDS MORE THAN $50,000 IN

MISSED TAX REFUNDS IN ALDERGROVE, B.C.

Nearly a third of the participants on the Million Dollar Neighbourhood TV series made errors on their returns

Calgary, AB – January 23, 2012 – It is only the first episode of Million Dollar Neighbourhood on OWN: Oprah Winfrey Network (Canada), but thousands of Canadians may have money hidden in their tax returns. H&R Block’s Second LookSM review of tax returns in Aldergrove, B.C., resulted in an additional $50,000 in tax refunds. H&R Block tax professionals found nearly one third of the participants missed credits or deductions and, of the taxpayers with refunds, the average amount was $1,571.

Million Dollar Neighbourhood is a new original series offering an unprecedented social experiment set in Aldergrove in which 100 families have only 10 weeks to raise their collective net worth by $1 million. The first episode aired January 22, featuring H&R Block tax specialists in a segment.

“For most taxpayers, receiving a Notice of Assessment means their tax return is approved, but it doesn’t mean you claimed everything you are entitled to,” says Cleo Hamel, senior tax analyst, H&R Block Canada. “In our experience in Aldergrove, we uncovered missed credits and deductions that resulted in refunds from $100 to more than $10,000.”

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January 25, 2012
Taxes

Giving To Charity? Take Advantage Of The Tax Breaks

Generosity Pays Off

Your first $200 of donations made to a registered charity results in a 15 per cent federal tax savings. For every dollar over $200, you receive a 29 per cent tax credit.

Donation Limits

Your donations cannot exceed 75% of your net income. The only exception is in the year of death or the immediate preceding year and then donations can be 100% of net income.

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December 5, 2011