| Hahaha!! No More Income Tax For Canucks!! My friend is an income taxman and he told me yesterday that you will not receive your income tax return money in one lump sum ever again. Get this, you will get it in 12 yearly installments effective immediately.
If you are going to receive $1200 you will receive $100 a month for the next 12 months and so on.
No more vacations to Jamaica or buying that toy you always wanted with your income tax return, you will just receive pocket change on a monthly basis.
Unbelieveable  |
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| I'm not certain this is the case. I found out already last year that the tax credits refunds were going to be paid out in quarterly installments, but this is the first time I've heard that they will be treating overpayments the same way.
If this is true expect a big stink and a lawsuit from the taxpayers federations over this because it amounts to an interest free loan to the government for a span of almost two years! |
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 pnjunctionTeksavvy ExtremePremium
join:2008-01-24
Toronto, ON
kudos:1 | reply to Xstar_Lumini
If true (and I have doubts) I will definitely be getting my employer to reduce their deductions based on my planned RRSP contributions (I forget the jargon for this).
Before I didn't care about the bit of time-value on the money and favoured the lump-sum payment. If it's going to be installments might as well keep the money on my paycheck. |
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| I want any of you to please disprove this because it's disturbing but my friend is not going to lie to me.
I'm VERY pissed that my usual $3,900 to $4,500 tax return will not be one sweet cheque in the mail but some stupid monthly installment, it will disbalance my plans, for example I will not be able to make my yearly vacation to the tropics because I will never have the airfare/hotel money in my hands. |
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| Actually it's hard to figure out anything going on in Harperland these days because here we are in the middle of February and Flaherty STILL hasn't released this year's budget.
Anyone have any idea what's going on there because last I heard they were still trying to figure out how to cut everyone's pensions except their own? |
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| They would announce a change like that and it would be all over the news
Here is the CRA site
»www.cra-arc.gc.ca/menu-eng.html |
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 nitzguyPremium
join:2002-07-11
Sudbury, ON
 ·TekSavvy DSL
| reply to Xstar_Lumini
said by Xstar_Lumini:My friend is an income taxman and he told me yesterday that you will not receive your income tax return money in one lump sum ever again. Get this, you will get it in 12 yearly installments effective immediately.
If you are going to receive $1200 you will receive $100 a month for the next 12 months and so on.
No more vacations to Jamaica or buying that toy you always wanted with your income tax return, you will just receive pocket change on a monthly basis.
Unbelieveable
Stop spreading FUD....you know its not going to change...I don't even know why I'm answering this other than to say things won't change. |
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 PaoloMr. Wireless
join:2004-05-29
Canada | please ignore the treasure trool |
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| reply to nitzguy
If that ever takes place, I will make sure to reimburse what is owed to the government in 12 equal installments, interest-free. |
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 AnavSarcastic Llama? Naw, Just AcerbicPremium
join:2001-07-16
Dartmouth, NS
kudos:3 | reply to Xstar_Lumini
Rooster ur a bit early for April 1st, go back to bed. |
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Reviews:
·TekSavvy DSL
| reply to Xstar_Lumini
Reminds me of the old "Your Tax Refund will be in Savings Bonds" scare that goes around every few years:
»www.snopes.com/politics/taxes/sa···onds.asp
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»www.codecipher.com - Marking the way to tomorrow's solutions -- Did you know that Perl is not Dead? »perlisalive.org/ |
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 JuggernautIrreverent or irrelevant?Premium
join:2006-09-05
Everywhere
kudos:1 | reply to Xstar_Lumini
Desperately seeking attention, are we?
I call BS, as that would mean Canada is broke for one thing.
Secondly, if Canada was indeed broke, a call of non-confidence would hit Herr Harper like a tsunami.
Your friend just owned your sorry ass... |
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Reviews:
·Execulink Telecom
| reply to Xstar_Lumini
lul. If this really were true, does that mean that if you OWE money to the government on your taxes, that you could pay them in 12 monthly installments? 
Somehow I don't think that would go over so well if you proposed that to Revenue Canada. |
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 SavantPremium
join:2001-08-12
Toronto | reply to Xstar_Lumini
Re: Hahaha!! No More Income Tax For Canucks!! This is actually true...
*EXCEPT* for two very important things...
#1: It only applies to people in Ontario
#2: It only applies to particular tax credits
The Ontario Sales Tax Credit, the Ontario Energy and Property Tax Credit and the Northern Ontario Energy Credit are being combined into ONE credit. This used to be a refund you would get when you sent in your tax return. Now it will be paid out monthly starting in the July after filing your tax return.
Information can be found here:
»www.rev.gov.on.ca/en/credit/otb/index.html
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Attack the words, not the writer... |
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JuggernautIrreverent or irrelevant?Premium
join:2006-09-05
Everywhere
kudos:1 | Even the thread title is a fake loss leader...
*thumbs down* |
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 J E F FWhatta Ya Think About Dat?Premium
join:2004-04-01
Kitchener, ON | reply to Xstar_Lumini
Re: Hahaha!! No More Income Tax For Canucks!! Your friend is pulling your leg. Look up the word gullible in the dictionary. |
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| reply to Xstar_Lumini
I have e-mailed him the link to this thread, lets see what he says, so this is not the hefty income tax cheque thats going to be spread out in installments? |
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Warez_ZealotRural land of the rising sun
join:2006-04-19
Hamilton, ON | reply to Xstar_Lumini
said by Xstar_Lumini:I want any of you to please disprove this because it's disturbing but my friend is not going to lie to me.
I'm VERY pissed that my usual $3,900 to $4,500 tax return will not be one sweet cheque in the mail but some stupid monthly installment, it will disbalance my plans, for example I will not be able to make my yearly vacation to the tropics because I will never have the airfare/hotel money in my hands.
It doesn't make sense to me. That's like buying a TV from Bestbuy, you return it, and they give you the money back in installments.
Makes for interesting Friday distractions tough. 
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"You're not supposed to be so blind with patriotism that you can't face reality. Wrong is wrong, no matter who says it."-Malcolm X
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