Sale price less your original cost gives your gain. Now take your gain and divide that in half as the gain is 50% taxable. Subtract any outlays as well (legal expenses to sell and what not) and then you will have your final capital gains income.

Example:

Sold for 1,000,000 less cost of 500,000 equals a 500,000 proft (YAY). The 500,000 is divided in half leaving 250,000 less your outlays as your capital gains to be taxed in your personal tax return. Which means your fucked..lol

Question on claiming dependents. Can 2 people claim a single dependent (child) and split the child tax benefits?

Berz out.

I think your answer is here>> https://turbotax.intuit.ca/tips/fami...n-i-claim-5171

If I already got my return, but forgot to claim some expenses, can I still go back and claim them?

yes

There's a T1-Adjustment form available

If I've been paying tuition out of my pocket, do they need to know that? Or the T2202a form should cover all that already

If any of you last minute procrastinators need help with tax filing this year, I can extend my company's friends&family 50% off to you guys. Just shoot me a PM :)

Anyone have a delay on getting your refunds?
I sent mine in early April and still haven't received it in the mail yet.

If you paper filed your tax return it can take up to 8 weeks minimum. If it was EFILED than I suggest you call them as that only takes 7-10 business days.

Delay here as well, who doesn't efile these days?!

I screwed up and reported my 2016 rental property income as $14400 rather than $14000. I dont have the full bank statements because PC bank only keep records for past 13 months. I only have partial bank records and rental agreement showing monthly rent income. If I submit only my rental agreement rather than bank statement, would this suffice? And if they ask for bank statements that I cannot provide, will I get in trouble?

^ $400 bucks more? errrr don't sweat over it.

400 bucks is about $100 in refunds. You're probably right, I'll consider that as a lesson to be more careful :(