Sunday, February 27, 2011

Tax Season

I have very little to report this week as we have been nowhere and done nothing...Except our taxes.

Now if there was anything messed up over here it's taxes! Complicated for two people who have never had to file tax returns in the UK that's for sure.

Over here you get a T4 at the end of the tax year. That's the same as getting a yearly P60 in the UK. That much I understood. But after that everything becomes a blur.

Many people here opt to pay more taxes on what they earn just so they get a refund at the end of the year. Bit like a savings scheme. Rob and I did not do that. But we have been paying taxes since we have been earning. As it's our first year, there is an exemption for personal taxes up to $10,000, of course we have had to keep records of stuff in the UK like our property and various other bits and pieces like my business account over here. Thankfully they have a thing call H&R Block over here, you can find them all over the place, and they are there for people like us. You just take all your figures along to them and they work it all out for you and file the tax return...For a fee of course.

After and hour and a half on Wednesday night, ours was done. As it's our first one, it has to be sent via snail mail to Ottawa and at some point we will receive a refund of around $1200. As we haven't earned enough to pay taxes since May last year. Of course they charged us $240 for the pleasure of doing it, but at least we get that back.

Next year we will be able to claim back things like excess medical expenses that aren't covered on our Blue Cross insurance and things bought for work like shoes and any educational expenses etc.

Enough of that I am sure you are all bored rigid reading this, I zoned out from the beginning.

The weather has been really mixed this week, we have had loads of rain and then some more snow, but not too much though thankfully. Saturday and today have been lovely and sunny, not that I have seen much of it, too busy catching up on my sleep, not much changes :o)


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