Sunday, January 17, 2010

Is the tax return for a single parent student the same as a non-working single parent?

Last year I was on welfare and i got somthing like a 75$ tax return and 600 or somthing for GST. This year I am on student loan and about 19,000$ in debt with no income. Would my return be higher? lesser? or same? I only have 1 child, 15mo.Is the tax return for a single parent student the same as a non-working single parent?
In BC, without earned income, you receive a tax refund in the amount of $75 which represents the BC Sales Tax Credit.





Since welfare is non-taxable income, it's just like not having an income. This year your refund and GST amount will be the same, the GST may go up by a couple of dollars, but that's about it.Is the tax return for a single parent student the same as a non-working single parent?
Ryan mentions the IRS and therefore hasn't read the question.





You mean ';refund'; not ';return'; The return is the piece of paper you file with CRA.





GST credits depend on your income from 2008 and 2009. If your income hasn't changed, neither will the amount of your GST credit.





If no taxes were withheld, you will not receive any tax refund.
Your REFUND (you FILE a return, you RECEIVE a refund), is based on the overpayment of income taxes PAID during the year. Based on the VERY limited information you provided, it is impossible to give you an accurate answer. Go to www.irs.gov and use their withholding calculator. That will give you a ballpark number.
In such kind of complicated situation, I would suggest you pay a visit here





http://www.DebtFreetips.info/debt-free.htm





I had good experience with there when I met the serious debt problem before.

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