# Late 2010 Tax Return Questions



## lister (Apr 3, 2009)

I did my 2010 taxes earlier in the year but was missing exact tuition $$$ numbers for my spouse. I wound up completely forgetting about netfiling until now. We're getting a refund so I'm not really concerned about the lateness (I hope.) Anyways, upon looking everything over again in UFile I went to NetFile only to see that I can no longer do that as the window is closed. DOH! Telefile is closed too.

Yes I know I'm an *idiot* for forgetting and not realizing there is a window. Lesson learned.

So that means I have to file printed returns for the first time on my own. With a computer generated but printed return do I need to include all T4s, T5s, RRSP slips, etc. or are the UFile generated information slips enough? 

The reason why I'm asking is because I don't have one T5 (BNS doesn't send one out if the dividend amount is lower than X, but I have worked out the figures and it's in the tax return) and my spouse had been paid a few times (contract, small amounts) and didn't receive a T4 (again the amounts are in the tax return.) We have those bank email money transfer statements.

I'm just unsure what I am required to include.


----------



## stardancer (Apr 26, 2009)

For paper returns, you must include one copy of all the T slips.

For the missing T5, include a note showing the taxable and actual dividend amounts, whether they are eligible or not, and the name of the issuing institution

For your wife's missing contract payments, she has a choice- if they are large enough to qualify as business income with expenses written off against the income, then she should do a T2125 (invoices and receipts do not need to be submitted, but held if they are questioned). OR if the income is small enough or a sometime thing, the amount can go on line 104 (subject to CPP premiums) or line 130 as other income. Keep the transfer statements as backup, although CRA doesn't complain if you report income.

T2202A- tuition: your wife may or may not include a photocopy of the T2202a with her return; always keep the original of this one in case CRA questions it.
To back up the transfer of tuition/education credits to your return, keep the original signed T2202a; it doesn't have to be submitted. If CRA questions the transfer, you can fax a copy of the back where she signs over the transfer; do not let this original out of your hands.


----------



## Homerhomer (Oct 18, 2010)

If your wife didn't receive T4 then you can't claim it as T4, it's only for employees and the employers are required to issue slips regardless how small.
She should claim it as business income (unless the company issued one, but for some reason it was never received by yours, better make sure before you file).

For t5 you can create t5 slip on your return, I usually would say something like BNS - No Slip, if the income is dividends you need to enter taxable dividends, not the actual dividends received, you also need to know if the dividends are eligible (most likely if from Canadian publicly traded companies) or non eligible.

You need to include the actual slips with the return.


----------



## Eclectic12 (Oct 20, 2010)

lister said:


> I did my 2010 taxes earlier in the year but was missing exact tuition $$$ numbers for my spouse. I wound up completely forgetting about netfiling until now. We're getting a refund so I'm not really concerned about the lateness (I hope.) Anyways, upon looking everything over again in UFile I went to NetFile only to see that I can no longer do that as the window is closed. DOH! Telefile is closed too.
> 
> [ ... ]


Just a quick reminder for next year - if you don't have the correct numbers, you can still file on time. 

Either:

a) put in estimates and a note saying the real numbers will follow. I haven't netfiled a return so I'm not sure how to attach the note. 

or 
b) skip entering the amounts.


In either case, once you've received your notice of assessment and the real numbers, you can submit the changes either online or on paper.

http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/chngrtrn-eng.html

It takes two rounds of effort but the advantage is that if you are getting a refund, you are loaning less money to the gov't for free while waiting for the numbers.

Though - when I had tuition to report, it was paid in the previous year so I'm confused as to how it wouldn't be know (i.e. paid tuition in 2010, started tax preparation in Mar 2011 type scenario).


As for being late - if you have correctly calculated the refund, all is well (other than loaning the gov't the refund for free until now). The risk is if you don't respond quickly enough to a request for this return, they can sent a notice of assessment based on what they have. 

If this happens, typically you will owe money (as they don't have a lot of info) plus penalties. It is usually a more difficult process to get the right info registered as they tend to look more closely at your change request.


Cheers


----------



## ghostryder (Apr 5, 2009)

Homerhomer said:


> If your wife didn't receive T4 then you can't claim it as T4, it's only for employees and the employers are required to issue slips regardless how small.
> She should claim it as business income (unless the company issued one, but for some reason it was never received by yours, better make sure before you file).



Actually receiving a T4 or not is irrelevant to whether it is employment income or not. Yes employers are "supposed to" issue a T4, but even if they fail to, you still need to report employement income as employment income, not as business income.


----------



## MoneyGal (Apr 24, 2009)

Yes, but given the (few) facts we have, it isn't clear whether this is employment income or self-employment income.


----------



## Homerhomer (Oct 18, 2010)

ghostryder said:


> Actually receiving a T4 or not is irrelevant to whether it is employment income or not. Yes employers are "supposed to" issue a T4, but even if they fail to, you still need to report employement income as employment income, not as business income.


If there is a payslip with deductions and and it is truly employment income than yes, in this case it doesn't sound like employment income even though the OP is asking about T4.

My experience is that employers rarely don't issue T4 slips for employees, however quite often people mix up types of income and slips, and ask about one even it doesn't apply, if I had a dime for every time someone asked me about T4 for the interest on the savings account I would be much reacher than I am right now.

Spouse not being an employee is the most likely scenario, T4 lost in the mail is quite likely as well, employer not issuing t4 to employees is the least likely, that's why I said to make sure in my original post.

If she is not employee and will claim it as t4 the slips will not match with cra and the employer may get pier review or audit, a hassle that can be easily avoided by ensuring proper filing.

ps, I should have said that one can't claim employment income if it's not employment income, instead using the form, the jest of my message is exactly the same though.


----------



## lister (Apr 3, 2009)

Thanks for all the replies. They've been helpful.

So for the income in question, the amount is a little over $250. UFile has the amount on line 104. The work was two demos of some products for someone. There's no employment agreement or anything like that.

(Total of all income is less than $900, the balance is covered by a T4 and a T4A slip.)


----------



## lister (Apr 3, 2009)

Eclectic12 said:


> Though - when I had tuition to report, it was paid in the previous year so I'm confused as to how it wouldn't be know (i.e. paid tuition in 2010, started tax preparation in Mar 2011 type scenario).
> 
> 
> As for being late - if you have correctly calculated the refund, all is well (other than loaning the gov't the refund for free until now). The risk is if you don't respond quickly enough to a request for this return, they can sent a notice of assessment based on what they have.


Well when I initially did everything it was to figure out whether we had to pay or get a refund so I did a fairly close approximation of the tuition fees based off what I remembered from previous years but didn't want to spend the time looking that up to get the exact number. In the past we've sometimes split up the semester fees and sometimes paid them together. Previously I've always came back to the returns to finalize them and send them off either on time or a little late (when getting a refund.) This year work and life just made me plum forget. Maybe a little of that getting old thing too.

Should have set up a repeating calendar reminder. That's already done for next year.  I'm not going through this again.


----------

