# First time filing April 2016



## jrsaballa (Nov 22, 2015)

I only have foreign dividend income. Under the basic personal amount.

My question is, where do I get a Schedule 1 Federal Tax Common to all and a Form ON428?

Is it mailed to my house from the Canadian government?

On a side note, my T5 slip statement of investment will be coming directly from Questrade. Should be ready by March 2016.


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## Eclectic12 (Oct 20, 2010)

You can check CRA's web site and download PDF forms when the 2015 forms come out.
http://www.cra-arc.gc.ca/formspubs/menu-eng.html

You can get paper copies of the same forms at your local post office or in a store postal outlet ... when the forms are delivered to the post office.


I don't know a lot of people who are going this way as most are computer savvy and will either buy a tax package such as uFile or download the free StudioTax to install on their computer.
http://www.drtax.ca/en/UFile/software-products/desktop-tax-solution.aspx
http://studiotax.com/en/

Some has also used the online version for a cheaper rate (though I prefer to keep my data on my computer).
http://www.drtax.ca/en/UFile/software-products/online-tax-solution.aspx





jrsaballa said:


> ... On a side note, my T5 slip statement of investment will be coming directly from Questrade. Should be ready by March 2016.


Maybe ... or maybe later ... this thread from 2012 said that people who were chomping at the bit were disappointed that the forms were not available as of March 10th and then a revised date of Mar 21st was published.

I haven't seen any threads since then so maybe whatever the issues were that year might have been ironed out so that the following years were more prompt.


Cheers
http://canadianmoneyforum.com/archive/index.php/t-10814.html


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## OhGreatGuru (May 24, 2009)

As noted, if you want copies of the T1 Return or related forms early, download it from CRA's web site. 

If you can wait a bit, free copies are given out at Post Offices,

CRA used to mail out forms, but with so many people filing electronically, CRA has stopped doing it. In any case you would not be on their mailing list if this is your first income tax return.

The basic T1 Return and Guide will include Schedules 1 to 9, and ON428. If you need some of the "special" schedules or forms such as foreign tax credits you ned to download them from CRA.

The alternative is to use tax software, but I don't recommend this for someone filing a first return. The software becomes a "black box" into which you put numbers, and users have no real idea how their taxes are calculated, or whether they have overlooked things of importance.


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## AltaRed (Jun 8, 2009)

Or do the return with tax software and then go through a printed copy of the completed return line by line to understand what is going on.


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## Eclectic12 (Oct 20, 2010)

OhGreatGuru said:


> ... The alternative is to use tax software, but I don't recommend this for someone filing a first return. The software becomes a "black box" into which you put numbers, and users have no real idea how their taxes are calculated, or whether they have overlooked things of importance.


I guess that it depends on one's perspective.

Compared to the string of posts about what seems to be one source of income (US dividends) ... downloading the 2014 version of Studio Tax to plug in some T5 numbers to generate a *complete* return seems an easy way to learn to me.

The main source of mistakes would be to plug in the numbers in the wrong box so that the dividends are treated as Canadian source or eligible dividends that get the tax credit.


It would be a complete return so it should be easily traceable from Schedule 4 to T1 to Schedule 1 for Federal taxes and the provincial form for the provincial taxes.

So yes ... it is a black box but the completed return makes it a traceable one where IMO, one being comfortable with computers/software is the bigger issue.


Cheers


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## jrsaballa (Nov 22, 2015)

Kind OF.

Without having my T5 in front of me, I don't really know what numbers to plug in.

I was over at simpletax.ca and it seems to work perfectly until I try to get my federal foreign tax credits/provincial foreign tax credits in.


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## Eclectic12 (Oct 20, 2010)

I'll have to look at the boxes on the T5 to be sure ... but I thought there would be a box for "other income" and a box for "taxes withheld".

Or maybe I am confusing it with the "taxes withheld" column on the ETF web pages.


Maybe someone who is receiving US dividends in a taxable account can comment.


Cheers


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## Numbersman61 (Jan 26, 2015)

jrsaballa said:


> Kind OF.
> 
> Without having my T5 in front of me, I don't really know what numbers to plug in.
> 
> I was over at simpletax.ca and it seems to work perfectly until I try to get my federal foreign tax credits/provincial foreign tax credits in.


The T5 you receive will have a box 15 for foreign income received, a box 16 for foreign tax paid. If amounts on the slip are not reported in Canadian dollars, box 27 will include USD. 
here is link to instructions for preparers of T5 returns http://www.cra-arc.gc.ca/E/pub/tg/t4015/t4015-e.html#P292_26602


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