First Time Filing Taxes Together as Common Law – Where Did the Refund Go? - Page 2
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Thread: First Time Filing Taxes Together as Common Law – Where Did the Refund Go?

  1. #11
    Senior Member
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    Nov 2015
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    386
    Quote Originally Posted by none View Post
    It would be interesting if you ran both returns separately and then ran them together to see how each fair individually and together.

    Please deliver!
    I would not recommend this it. It will only depress you!


  2. #12
    Senior Member
    Join Date
    Oct 2010
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    7,819
    Quote Originally Posted by Nerd Investor View Post
    Quote Originally Posted by Congo View Post
    Line 207 - RPP - $8430
    Line 208 - RRSP - $3800
    Your withholding looks spot on then; they would account for your RPP contributions when withholding ...
    Knowing the "RRSP contributions" are not 100% RRSP contributions but 69% RPP with only the remaining 31% RRSP contributions, the lower refund makes more sense.

    The RPP amounts are not subject to payroll taxes so there's no potential of a refund. The RRSP amounts are from the company plan, which means the company can adjust the withholding amount without any issues as the RRSP receipt being deducted will offset the withholding tax that would usually have been charged.


    When I get time I will have to play with some scenarios to see if there is some sort of buffer. In theory, if the withholding is exactly tied to income as well as the Group RRSP contributions - there should be no refund at all as the withholding tax wasn't taken for either source. It is driven off of what CRA sets so there might be a buffer.


    Unless there are other credits/deductions such as charitable donations or similar that are the source of the refund.


    Cheers

  3. #13
    Senior Member
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    Apr 2013
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    329
    Quote Originally Posted by Congo View Post
    ... her company would have to have not been taking near enough taxes off her pay. ...
    I wouldn't consider that a bad thing. So many seem to think the goal is to get a tax refund, but that just means the government had your money all this time. It's a psychological thing, I guess. I prefer to have a little bit owing at tax time.

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  5. #14
    Junior Member
    Join Date
    Mar 2017
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    Review of my post

    Mods: I've posted a comment here over 1 week ago. Why is my comment not being reviewed and accepted?


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