How can i figure ou what ill get back for income tax?

Question

im not to good at taxes but here some things ...I am common law we(he) made 28,350,00$ we paid 4,800.00$ in rent have 2 kids and income tax deducted was 4539.77$ we live in ontario...If someone could get back to me asap ...we wanna know what we would get back without waiting for the thing from college saying that he went for a couple months this year and if its worth wild waiting for thanks

Answer 1

Your (his) income of $28,350 would normally have $4156 in taxes deducted.

Since $4539.77 was deducted you have a refund of $383.77.

For the college "thing" he would either get $120 a month per month attended in tax credits (or $400 per month if it was over 60% of a course load) plus the tuition costs. These weren't indicated, so for fun I'll use $1000 as his tuition paid.

From these credits of $1800 (assuming full time and assuming tuition), the refund from his school attendance would be another $387.90 or so (the combined Federal and Provincial tax rate at his income is 21.55%, so take the $1800 and multiply by this to find the refund - use your accurate numbers to figure out the refund from his education).

As for your rent, you may be entitled to the full $250 refund based on your current incomes.

Total refund could be in the $750-1000 range, depending on his tuition and his status as either a full or part time student. If it was two months for an apprenticeship program, that is considered full time.

Wait for that form.

Hope this helps.

Answer 2

you can go to H&R Block and they will go through it all, tell you your refund or balence owing and then you decide wether or not you want to give them money to file your return. they also have an online thing but you may miss some deductions that way.
you will need the form from the college because part of the tuition and new this year, part of your textbooks can be deducted.

Answer 3

is 28 your combined income or just his? if its just his then he might be able to get back a some otherwise it will be very little. cpp/ei/tax deductions should be around 4500.00 if you paid more than that they you'll get some back.