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Thread: 2015 Tax Year - family tax cut

  1. #1
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    Default 2015 Tax Year - family tax cut

    Hi,

    I had a question regarding the family tax cut for the 2015 taxation year. I received a notice from the cra today saying they reassessed my tax filing from last year and that I owe a little over $2k because I don't qualify for the family tax cut. I found this really odd as I qualified the previous year and nothing has changed. I also thought the elimination of the family tax cut wasn't effect until the 2016 taxation year. Anyone know why the CRA would send me this notice? Has anyone else received something like this?

    Thanks for the help.

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    Default

    It's not uncommon for them to do these reassessments and I've had instances where I've just paid and where I've appealed.

    Appeals are just mailing off a form with your written justification, followed by some back and forth correspondence. In your case, you should be certain otherwise they may come back and ding you another $2k for 2014 too.

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    Default Re: 2015 Tax Year - family tax cut

    Originally posted by zooter
    I also thought the elimination of the family tax cut wasn't effect until the 2016 taxation year.
    The TFC does affect the 2016 tax year.

    http://www.taxtips.ca/filing/family-tax-cut.htm

    Legislative proposals announced on December 7, 2015 included elimination of the Family Tax Cut for 2016 and later years.

    The Family Tax Cut, announced by the federal government in an October 30, 2014 Tax Update, is effective for the 2014 and 2015 taxation years only. Although it is not technically "income splitting", it allows a non-refundable tax credit of up to $2,000 based on a "notional" transfer of income.

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    Go through your paperwork, check your numbers and get your ducks in order. If your in the right, then run the appeal. When you do this send the documentation by recorded delivery so you know they received it.
    They might call you on the phone to discuss. They are usually good when they do that.

    BUT..The CRA can be pretty stupid sometimes and sometimes don't even know the legislation for government instruments that they are meant to assess.

    I had a issue with my TFSA where they said I have overpaid. I had not, I explained that I was within the rules. I provided documentation to clear it up. I had to pull statements going back a few years. I sent it by post.

    They forgot about it and six months later sent me a warning to pay with interest. I explained I sent documentation. which they said they did not receive.
    I ran the appeal, provided the tracking number and the claim was withdrawn.

    It can be a headache. But keep your cool and get your paperwork in order.

  5. #5
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    Default Re: Re: 2015 Tax Year - family tax cut

    Originally posted by Tik-Tok


    The TFC does affect the 2016 tax year.

    http://www.taxtips.ca/filing/family-tax-cut.htm

    Yes, it affects the 2016 tax year which is what we are filing for right now, but I am talking about the 2015 tax year which was filed a year ago.

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