If you are one of the many that receives a sizable income tax refund at tax time your employer is possibly withholding more tax then is necessary. You have the legal right to apply to CRA and ask your employer to reduce your tax installment withholding to a level consistent with your annual income tax bill.
Simply fill out a form T1213 with CRA and once approved you’ll be able to ask your employer to reduce your tax withholding which in turn increases the amount you receive every payday.
Some of the reasons you may want to submit form T1213:
- You consistently contribute to an RRSP
- You incur sizable child care expenses
- You make support payments
- You pay for employment expenses
If you would like to reach me to discuss a tax or accounting matter please call 250-661-9417 or email me at email@example.com.
The accounting and tax information provided on this website is for informational purposes only and does not represent binding professional advice. Appropriate tax treatment and advice will depend on an individuals particular circumstances and set of facts.