Using Tax Chopper Online, preparing family returns is as easy as preparing returns for individuals. The calculation of family returns can get complicated, credits can be shared by family members, unused credit can be transfer to supporting taxpayer. Many regulations are involved. Unchecked claims may be excessive or unnecessary, which might cause CRA penalty or waste of your money. Tax Chopper checks every involving return’s situation and optimize the best result for the family. We let you do your taxes easily without struggling through form after form. For example:
- Medical expenses claimed for a dependant will be calculated automatically based on the dependantโs income and the province in which they are living.
- Unused credit amounts from your spouse (federal Schedule 2 and provincial S2) are generated automatically.
Any unused age amounts, pension amounts or disability amounts from one spouse will be transferred to the other spouse automatically without any intervention. - Tuition fees can be transferred automatically or manually.
In either case, there is no possibility of wasting future tuition credits, since Tax Chopper has already reduced the transferable amount to the maximum amount the support person can take advantage of. - Certain provinces have tax deductions which can be shared by spouses.
If one spouse claims it initially but cannot take full advantage, the other spouse will pick up the remainder automatically. - When both you and your spouse claim childcare expenses, Tax Chopper can do calculations for each one according to their situation, and will do a cross-check.
- Claiming a disability amount is as easy as one click to indicate the status of infirmity. Unused amounts can be transferred to as many as three other family members in any proportion.
- Childcare expenses, disability amounts and transfers might come up together, but no problem – Tax Chopper will take care of them all.
- Even if your family members are living in different tax provinces, Tax Chopper will handle calculations seamlessly.
One of the amazing benefits of using Tax Chopper is that, even if a dependant’s return doesn’t show any unused amount, a support person may, in some cases, still get a transferred credit. Tax Chopper will ensure that you get every cent you are entitled to. - Our optimization modules and tools are available to everyone, including those using free returns. The fact is that low-to-medium-income returns have the same optimization opportunities as high-income ones and we are committed to optimizing every possible credit and deduction.
