Suggestions for how to blow Income Tax return

[cSpooge]

Originally Posted by Bring_Back_Shantz

Yeah, unfortunately after the bill I'm going to receive this year, that's probably going to happen. Fortunately I think I've got a pretty good arguement that this was a somewhat rare occurance and won't be happening every year.

Installments are now triggered at $3000 owing rather than $2000 owing btw.

[Mccree]

Originally Posted by Bring_Back_Shantz

Yeah, unfortunately after the bill I'm going to receive this year, that's probably going to happen. Fortunately I think I've got a pretty good arguement that this was a somewhat rare occurance and won't be happening every year.

If you were never required to make installments and 2008 will be the first time instalments are required then CRA has a policy in place to NOT require instalments for 2008. IF you are required to pay instalments after you file the 2008 returne then you will have to pay them.