the Canadian personal tax credit forms you fill out for work, question about dates?
Posted by Financial Advisor | Filed under Tax Savings
so i have to fill out two of those Canadian personal tax credit returns for a new job i am starting. They say 2009 on them so when i fill it out should i be using the total income i have made in 2009, and will my employer have me fill out new one's in 2010? or should i be filling them out calculating how much i will make working there? It's just weird since i am just starting work i won't make much before January first. So will i get new returns to fill out with my new income amounts for 2010?
The 2010 forms are not available yet. Estimate your income for 2010. Some employees will make their employees fill out a 2010 form, others do not, only if your exemptions change.
I assume you are talking about the TD1 Tax Credits Return and the TD1-WSWorksheet.
On the worksheet (the main form doesn't ask for your income), when it asks for "estimated net income for the year" it means your TOTAL income for 2009, not just from the new job.
Yes, this is a form you will fill in every year.
You don't need to do a new one every year, but some employers ask for them.
If your circumstances change you can fill in a new form anytime.