Another question re: OSAP

[skiordie]

Hey guys,

 

I'm trying to get my OSAP app submitted ASAP, but I just wanted to double check something. I haven't filed a tax return for 2010 yet, so I can't refer to line 150 for the exact amount of my total gross income, and I obviously want to be as accurate as possible so that I'm not barred from receiving OSAP!

 

What I'm wondering is: if I only worked for one employer for all of 2010, then the total gross income as it appears on my T4 should give me the correct amount (equivalent to what will appear on line 150 when I eventually file my tax return), right?

 

I have always had H&R Block do my taxes in the past, but now I'm going to do them myself so I actually understand them...

[hking03]

Hey guys,

 

I'm trying to get my OSAP app submitted ASAP, but I just wanted to double check something. I haven't filed a tax return for 2010 yet, so I can't refer to line 150 for the exact amount of my total gross income, and I obviously want to be as accurate as possible so that I'm not barred from receiving OSAP!

 

What I'm wondering is: if I only worked for one employer for all of 2010, then the total gross income as it appears on my T4 should give me the correct amount (equivalent to what will appear on line 150 when I eventually file my tax return), right?

 

I have always had H&R Block do my taxes in the past, but now I'm going to do them myself so I actually understand them...

 

i'm not an accountant so i can only say in my very naive opinion that...

 

if you only made money from one source of income (no bursaries, second jobs or any other source) then your gross income will be what you made at your one job.

 

at least, that's what it was for me this year.

 

also... aren't you a little late on filing your taxes or do you get an extension because you are filing on your own behalf? or, do you own a small business?

[skiordie]

i'm not an accountant so i can only say in my very naive opinion that...

 

if you only made money from one source of income (no bursaries, second jobs or any other source) then your gross income will be what you made at your one job.

 

at least, that's what it was for me this year.

 

also... aren't you a little late on filing your taxes or do you get an extension because you are filing on your own behalf? or, do you own a small business?

 

thanks for the input, hking (and sorry I'm so delayed with this)!

and yes, I was late filing my taxes, but I've earned so little in the past few years as a student that H&R block assured me it wasn't a huge deal... but I won't be doing it again and it does feel good to have them finished now!

[HBP]

It's no "problem" submitting taxes late when you don't owe anything. You missed out on all your GST/HST credits and stuff though, but I think you should be getting it all back now.

 

I would just submit what your net income was on your tax return as your line 150. If you find out that you made an error when you get your Notice of Assessment, just call your financial aid office and change your income.