file income tax return if income is $1?
Apr 21, 2015, 3:54 pm
#1
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Original Poster
Join Date: Oct 2014
Posts: 472
file income tax return if income is $1?
Before anyone says so, I know, ask an accountant. Anyone here have any insights?
In 2014, I had $1.01 in Canadian income from a Canadian bank account. I am not a resident of Canada. I saw somewhere on the Canada Revenue Agency website, but can't find it now, that if you owe $2 or less (or are entitled to a refund of $2 or less), the CRA will not require you to pay (or pay you).
Is this true? If so, I will not file a tax return and save trouble.
In 2014, I had $1.01 in Canadian income from a Canadian bank account. I am not a resident of Canada. I saw somewhere on the Canada Revenue Agency website, but can't find it now, that if you owe $2 or less (or are entitled to a refund of $2 or less), the CRA will not require you to pay (or pay you).
Is this true? If so, I will not file a tax return and save trouble.
Apr 22, 2015, 5:11 am
#2
Join Date: May 2005
Location: YOW
Programs: AC-SE100K MM, BA-S HH-D, MB-G LT Sil, IHG-Plt, Nexus, Global Entry
Posts: 3,803
If you had Canadian income, and the bank knows you are a non-resident, there should have been a withholding tax your interest.
Short answer: yes it is true. Refunds are not made, and payments not required for amounts less than $2.
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13F
Short answer: yes it is true. Refunds are not made, and payments not required for amounts less than $2.
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13F
Last edited by Seat13F_AC_CRJ; Apr 22, 2015 at 6:20 am Reason: for clarity