Income tax return question....?

Question

Can an income tax accountant give me an estimate on how much return ($) I would get by looking at the numbers on my T4 slip????

Answer 1

You could do this yourself.

If you have no other slips or receipts to consider, why not running your gross income through an online calculator, such as the ones on Ernst & Young's website (http://www.ey.com/global/content.nsf/Canada/Tax_-_Calculators_-_Overview)

This should tell you the taxes payable. If you paid more tax, you get a refund.

If you've got other slips (RRSPs, etc) then you are going to have to work through your taxes.

Hope this helps.

Answer 2

Yes and a fairly close one to. If you are only relying on your T4 slip, but you might have other deductions also such as child payments, alimony and things like that and all deductable.