From: sharx335@hotmail.com   
      
   "Canuck57"  wrote in message   
   news:7YYyp.935$8z7.713@newsfe17.iad...   
   > On 06/05/2011 10:38 PM, Sharx335 wrote:   
   >>   
   >>   
   >> "Canuck57"  wrote in message   
   >> news:ApWwp.5680$xo2.5626@newsfe07.iad...   
   >>> On 03/05/2011 10:49 AM, Alan Baggett wrote:   
   >>>> Where do our taxes go? :CRA SOTW   
   >>>>   
   >>>> By David OliveBusiness Columnist   
   >>>>   
   >>>   
   >>> Lets simplify it and say 50% of Ottawa spending is waste.   
   >>> Bailing out   
   >>> banks, GM, Chrysler, dozens of others, African banks, Pakistan   
   >>> and   
   >>> dozens of other pork fest around the world help Canadians   
   >>> little.   
   >>>   
   >>> CRA computers are sick like dogs this year. They have 7 years   
   >>> of my   
   >>> tax filings at a Canadian address, as a resident, same address,   
   >>> no   
   >>> foreign holdings and they think I am a foreign resident for   
   >>> TFSA even   
   >>> though I have payed them a HUGE amount of money!!!   
   >>>   
   >>> Not only that, they screwed me $48 because my wife had $128 in   
   >>> a Co-op   
   >>> payment.... No wonder it does not pay to work for many, add the   
   >>> costs   
   >>   
   >> Was that Co-op payment a patronage payment? IF so, and IF you   
   >> had   
   >> entered the T4A slip properly, you would NOT be taxed on it.   
   >   
   > Yep.  But it is taxed.  Deductions and slip.  If you get a T   
   > slip, money deducted it is income.  If the person is a dependent   
   > of another, it reduces their deduction.  So, say it is $130, they   
   > pay you $40...but on taxes it is $140...big earner last buck rate   
   > is 40% so they hose you. So you end up paying 40% on $140 - real   
   > hose job.   
   >   
   > --   
   > Take a look at ANY country, more debt is more problems.  So why   
   > do we allow our governments more debt?  Selfishness, greed,   
   > denial, ignorance?   
      
      
   Several of my tax clients receive patronage payments from co-ops.   
   They receive an annual T4A slip from the co-op which shows the   
   amount received and the amount of tax withheld. The PROFESSIONAL   
   tax software I use has provision for such NON-taxable patronage   
   payments. I enter the amounts in the proper input areas and VOILA,   
   the income amount is NOT included in net income and any tax   
   withheld is added to credits...and refunded, as the case may be. I   
   suggest that you retain the services of a PROFESSIONAL tax   
   preparer. This is yet another example why a LOT of people should   
   NOT be doing their own income taxes.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)