Canadian Taxes Refund Timeline

[Earmuffs 1]

turns out i OWE!!!!!!!!!!!!!!

how i dont know..

[Chica Yeyé 41]

Did anyone ask when they start paying you interest on your money?

if only....

you just made my day sister!!!!

[L_n_O 3]

turns out i OWE!!!!!!!!!!!!!!

how i dont know..

They contacted you???

[Chica Yeyé 41]

turns out i OWE!!!!!!!!!!!!!!

how i dont know..

You owe what? Was it the GST?

[Texanadian 10]

Did anyone ask when they start paying you interest on your money?

They will pay daily compound interest after the latest date of the following:

• May 31st
• 31 days after your tax filing has been filed (received by CRA)
• The day after you overpaid your taxes.

[Chica Yeyé 41]

Did anyone ask when they start paying you interest on your money?

They will pay daily compound interest after the latest date of the following:

• May 31st
• 31 days after your tax filing has been filed (received by CRA)
• The day after you overpaid your taxes.

Oh #######, really? Are you serious? then we should ALL be paid interest if it will take them as much as they say, right????? [[[[getting greedy]]]]]

[Texanadian 10]

That's right off the General Income Tax & Benefit Guide for Non Residents (aka the instruction book that comes with the tax forms)

It's the same timeline for residents of Canada as well.

It doesn't say what the interest rate will be. But if you file late and owe, it's 5% of the return owing and then 1% a month....So I'm guessing it will be 1% a month for people who've filed on time but are waiting an eternity for their refund.

I don't know how sneeky CRA is, but wouldn't it suck if they then charged 25% non resident tax on the interest we earn from having our tax refunds come late.

Edited May 7, 2008 by Texanadian

[Earmuffs 1]

turns out i OWE!!!!!!!!!!!!!!

how i dont know..

They contacted you???

checked online..

[lynamon 0]

Did anyone ask when they start paying you interest on your money?

They will pay daily compound interest after the latest date of the following:

• May 31st
• 31 days after your tax filing has been filed (received by CRA)
• The day after you overpaid your taxes.

Oh #######, really? Are you serious? then we should ALL be paid interest if it will take them as much as they say, right????? [[[[getting greedy]]]]]

I knew that they paid interest ... just didn't know exactly when they were required to do so. Thanks Texanadian. Looks like I'll receive my refund sometime in August lol.

[Carlawarla 1]

I had an E-Pass security code mailed to me, and I checked on-line for my return yesterday. All it says is "received", no date, nothing. Will continue to monitor and let you know if I "see" anything".

[Emancipation 2]

I had an E-Pass security code mailed to me, and I checked on-line for my return yesterday. All it says is "received", no date, nothing. Will continue to monitor and let you know if I "see" anything".

Me too.. nothing but a confirmation that they got it.

[Mephys 2]

Ill send you a PM Liz...

I guess you can add me to the list. Sent it to them on April 22 and on the website it says it's received but not yet processed...

Like Emancipation I am expecting a HUGE amount

I think its that choice on the article 217 or something like that and it has to do with the taxes paid on the EI....

Anyways

[lynamon 0]

Mark me down as physically mailed 05/14/08 ... thnks ..

[L_n_O 3]

thx everyone..

will get everything updated as soon as I get back on US soil (sunday)

[Emancipation 2]

Got my CDN tax return.. refund deposited in my account.. crazy fast that was considering their timeline It was accessed as of the 20th of May (dunno how that happened). The filing date they had for me was April 30th. It was $700.00 less than what I was expecting though.. UGH.

Edited May 17, 2008 by Emancipation