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TD1 FORM

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Re: TD1 FORM

Post by MarieH on Thu 27 Jul 2017, 18:19

Thanks Trooper, I will submit my TD1

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Re: TD1 FORM

Post by pinger on Tue 25 Jul 2017, 15:04

Glad I submitted my adjusted TD1 awhile ago, it gives me a nice relief instead of owing every year.
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Re: TD1 FORM

Post by umbrella001 on Tue 25 Jul 2017, 11:39

Thanks Trooper, that is our position here with SISIP too little taxes being withheld. Owed 6000- in taxes for 2016, thankfully the DTC was approved recently so that lowered the amount owing but still owe.

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Re: TD1 FORM

Post by Guest on Tue 25 Jul 2017, 11:36

umbrella001 wrote:This is great info trooper, I had only been having taxes deducted from our bank account via instalments for the CRA but this might be better. I was intimidated by the tax paperwork and all of the boxes so I didn't fill it out.I think I'll go ahead with it now.

Just keep in mind this is the policy for SISIP to have more income tax deducted each Month. Other income sources may have different policies in this regard.

The reason this topic was started was because SISIP use to withhold aprox 20% across the board regardless of the amount. This was a fairly good percentage number. What happen is the CRA put a stop to the 20% stating that SISIP was withholding to much taxes as per the CRA guidelines, obeying the rules set out by the CRA, SISIP lowered the 20% to a much lower percentage resulting in every SISIP client seeing an increase in their Monthly payment amounts, not from a raise, but from SISIP withholding very little taxes. With all of this change came the instructions from SISIP to every client the process or policy of using the TD1 form to request additional taxes be withheld.

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Re: TD1 FORM

Post by umbrella001 on Tue 25 Jul 2017, 11:15

This is great info trooper, I had only been having taxes deducted from our bank account via instalments for the CRA but this might be better. I was intimidated by the tax paperwork and all of the boxes so I didn't fill it out.I think I'll go ahead with it now.

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Re: TD1 FORM

Post by Guest on Tue 25 Jul 2017, 06:13

MarieH wrote:thank you trooper, does that means that they will deduct more only on the federal side and not on the provincial or they will split on both side, because right now they do not deduct anything on the provincial and only the minimum on the federal

It has nothing to do with the breakdown between Federal and Provincial taxes, this is done when your taxes are filed.

What your doing is simply asking SISIP to deduct more taxes. IE: Your Monthly SISIP amount is $2300.00, they are currently only deducting $100.00 a Month, you now have sent them in a TD1 requesting they deduct an additional amount of $200.00 making your total new Monthly tax deduction amount $300.00

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Re: TD1 FORM

Post by MarieH on Mon 24 Jul 2017, 20:37

thank you trooper, does that means that they will deduct more only on the federal side and not on the provincial or they will split on both side, because right now they do not deduct anything on the provincial and only the minimum on the federal

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Re: TD1 FORM

Post by Guest on Mon 24 Jul 2017, 20:11

MarieH wrote:HI, I have two questions about the TD1 form:

Do I need to fill out both TD1 forms, the federal and the provincial one? and
Do I have to fill out the whole form (like # 4 pension income amount) or just the block on page 2 “Additional Tax to be deducted”

thks

Marie

Only fill the Federal form.

No, not the whole form, just the Additional Tax Deducted.

Just make sure your personal info is included, name ect....

You should also include your service number.

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Re: TD1 FORM

Post by MarieH on Mon 24 Jul 2017, 19:10

HI, I have two questions about the TD1 form:

Do I need to fill out both TD1 forms, the federal and the provincial one? and
Do I have to fill out the whole form (like # 4 pension income amount) or just the block on page 2 “Additional Tax to be deducted”

thks

Marie

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Re: TD1 FORM

Post by Guest on Fri 21 Aug 2015, 16:08

yaa birdgunner I get these things a lot , strangely enough not the year we had to figure in the retro , I generally just ignore them and file them away . never had an issue YET as I pay my taxes in full prior to deadline . kinda hate having these guys make interest off my fracking money when it should be me collecting the interest . so im just gonna keep on keeping on till I cant lol . you should do what you are comfortable with.

good luck buds

propat

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Re: TD1 FORM

Post by birdgunner on Tue 18 Aug 2015, 14:58

Thanks for the info Trooper.

Today I received from CRA the following document:

Instalment Remittance Voucher form INNS3 {15}.

This document tells me that CRA wants two payments before Dec. 31 2015 to pay-off next years income tax owing(still working on the DTC, I have owed back for the last few years which red flags my income tax account leading to the CRA request)...the reason, CRA is losing out on the interest.

Contacted both CF Pension office(able to do over the phone) and VAC(forms on the way, signature required) to get additional taxes taken off each month...by doing this and lowering taxes owing for next year to below $3,000.00 by 31 Dec 2015 leads to the CRA request for two payments to be nullified.
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Re: TD1 FORM

Post by Guest on Thu 09 Apr 2015, 16:00

ya pinger but wouldn't it be nice to frack one for a change instead of always getting fracked by one .

JMO

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Re: TD1 FORM

Post by pinger on Thu 09 Apr 2015, 14:18

3 cents? 

If it helps anyone else out there. 866 land just told me a TD1 for extended ELB purposes needs to be submitted to a D.O. That's not enough, Tell them, write on something to them to direct the said TD1 to their Central Processing Centre. Spoonfeeding and VAC cutbacks aside, at least a TD1 is not often done.

Somedays I want to marry a senior eschelon CRA agent lol! . But ahhh, then I would be part of the problem.pinger.
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Re: TD1 FORM

Post by pinger on Wed 08 Apr 2015, 16:49

Thank you Trooper.

And we are fortunate to have Sparrow and Sabrelove on csat. pinger.
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Re: TD1 FORM

Post by Guest on Wed 08 Apr 2015, 16:34

Pinger,

The answer is yes, sabrelove has given and excellent example of this, and other measures one can take with respect to calculating for the amount withheld on any taxable income.

The TFSA is helpful in eliminating the T5, which in turn helps in your tax returns.
Look for this to double in the amount allowed to contribute in the upcoming budget.
Also, if you are sign on to my account from the CRA website, you can see the room you have to contribute into it.

Sparrow is correct, it can take up to a couple of pay's from SISIP before the deduction is made from your pay.
I would contact your SISIP CM after a couple of Weeks after submitting you TD1 to confirm they actually got it.

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Re: TD1 FORM

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