Getting Your Tax Refund Up-Front
When you get a tax refund, it means you have given Ottawa an interest-free loan of funds you could have used last year to reduce debt or boost your investments.
The good news is that if you think you’ll be in line for a refund, you don’t have to wait. Your district tax office can authorize your employer to deduct less tax from your pay, to reflect deductions that typically trigger a tax refund — things like RRSP contributions, charitable donations, deductible support payments, and childcare expenses.
You might also qualify if you will be making a large RRSP contribution or “catch-up” contribution early in the year, or if you expect to have significant carrying charges, rental losses, or legal expenses incurred to collect child support and/or allowable business investment losses.
If you’d like to make this request, you may contact me via phone or e-mail for the necessary T-1213 tax form.
Tags: Tax Planning
This entry was posted on Thursday, March 4th, 2010 at 9:17 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
