Frequently Asked Questions &
Educational Videos

Question: 

Are you open today? 

Answer: 

We are open 7 days during tax time (February to April 30) Mon-Fri 10am-7pm, Sat & Sun 10am-5pm. 

You can always look at our business hours on Google  where it is always updated.

Question: 

Can I file my return online or do I have to come to the office in person?

Answer: 

Yes, we can assist you remotely. If you are a new client please fill out the "New Client Form". 

If you are an existing client, then simply send us an email with your T4 slips, current mailing address, phone number and any changes i.e purchased or sold a house, marital status, new dependents.

Question: 

Is it really $30 for Single and $50 for Couple return?

Answer: 

Yes, it is! As long as it is a simple return. We will consider it basic return even if you have 10 T4 slips. If you have T4A (Self Employment Income),  Stock calculation, Principal residence sale reporting, Medical receipts or Donations slips that we would have to tally up and spend more time, then it will be more. If we end up spending more time in your return then obviously our charges will be more.

Question:

What do I need to bring?

Answer: 

I feel like I can never answer this question properly as everyone's situation is unique. I would suggest you check our checklist tab. Most frequent items that clients bring are T4s, annual medical tax slip from their pharmacy, donation slip, and day care tax receipt.

Question:

I need my T1 General, how can I get it?

Answer: 

You can send an email to info@mhufinancial.com and request your T1 General. Please confirm your identity (full name, date of birth, and last three digits of your SIN number) and specify what year(s) you need. We will reply to your email with the pdf attached.

Question: 

I need my NOA and I don't have a CRA Account registered. How can I get it?

Answer: 

You can send an email to info@mhufinancial.com and request your NOA. Please confirm your identity (full name, date of birth, and last three digits of your SIN number) and specify what year(s) you need. We will reply to your email with the pdf attached.

Question:

How do I create my CRA Account?

Answer: 

You can create it in the following link: https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/account-individuals.html

If you have an online bank account, select Sign-In Partner to use your online bank login to sign in to your CRA account.

You can select CRA user ID and password to create a new user ID and password to use to log into your CRA account.

Question:

What is the password to my tax return pdf file?

Answer: 

For any tax return pdf files that were received 2021 or earlier, text 825-365-2038 to request the password.

For all tax return pdf files after 2022 and later, your password is:

• in all UPPERCASE, 

• it’s the first 5 letters of your last name followed by 

• the last 3 digits of your SIN#. 

Password Examples:

If someone’s last name is Obama and the SIN# ends in 333 then the password is OBAMA333. If someone’s last name is Sam and SIN# ends in 111 then the password is SAM111. If someone’s last name is A Hossain and SIN ends in 222 then the password is AHOSS222.

In most cases it will look like this for last names with at least 5 letters or more: ABCDE123

Question:

Can I file my tax return after April 30?

Answer: 

Yes, you can file your tax return after the deadline.

Question:

I got a new SIN number, how do I update it with CRA?

Answer: 

It will be updated automatically after a few days of receiving your new SIN number.

Question:

How do I update my address, marital status, banking info, etc. with CRA?

Answer: 

There are a few ways to do this.

If you have a CRA account, you can log in, go to Profile and update it yourself.

If you don't have a CRA account, you can call CRA directly at 1-800-959-8281. These changes can also be done at the time of filing your tax return.

Question:

How can I set up Direct Deposit with CRA?

Answer: 

There are a few ways to do this.

If you have a CRA account, you can log in, go to Profile and update it yourself.

If you don't have a CRA account, you can call CRA directly at 1-800-959-8281, or this can be done at the time of filing your tax return, and/or this can be set up through your online banking (depending on your financial institution, some banks do not have this option available).

Question:

Why didn't I receive the GST or Carbon Credits?

Answer: 

There are many reasons why you may not have received these credits. You can reach out to us by email or call CRA directly at 1-800-387-1193 to find out why.

Below are the possible reasons:

• You may not have filed your tax return

• If you immigrated to Canada and never received these credits, CRA may need additional information from you. Contact you tax preparer.

• If you have a spouse or common-law partner, CRA may need additional information from you and your spouse or common-law partner. Contact your tax preparer.

• If you have a spouse or common-law partner, they may be the one receiving it. GST and Carbon credit is a family credit. CRA only sends it to one of you. You don't both receive it. There is no way of controlling who will receive it. CRA sends it to who they processed first.

• If you are only receiving Carbon Credit and no GST Credit, then you may not be eligible. GST is an income-based credit. Once your family net income has passed the income threshold, you are no longer eligible. The income range depends on your marital status, how many children you have, and the tax year.

• You may have a balance owing with CRA or a government program. They may be applying these payments to that owing amount.

• You may have received a notice from CRA that has the explanation.

Question:

Why didn't I receive my Canada Child Benefit (CCB)?

Answer: 

There are many reasons why you may not have received these payments. You can reach out to us by email or call CRA directly at 1-800-387-1193 to find out why.

Below are the possible reasons:

• You may not have filed your tax return

• If you have a spouse or common-law partner, they may not have filed their tax return. Both parent's tax returns need to be filed, even if there was no income. A nil return will then be filed for the parent with no income.

• Your and your spouse or common-law partner's tax returns may still be in process with CRA.

• If you immigrated to Canada, you need to apply for CCB once you are eligible. 

  • • If you are a resident under a Student or Work Permit, you are eligible after you have been a resident of Canada for 18months.

    • If you are a resident under Permanent Resident, you are eligible to apply.

    • Please note that your child(ren) need to be in Canada to apply.

• You may have received a notice from CRA that has the explanation.

Question:

Why am I not getting a refund when I had paid tuition fees?

Answer: 

Tuition fees paid becomes a Non-refundable tax credit for your tax return. This is ONLY used when the taxpayer has taxes to pay. If you don't have taxes to pay, the tuition credits don't need to be used. The unused amount is carried forward until you need to use it. 

Question:

Can I just use my tuition credits on my zero income/low income tax return to get a refund?

Answer: 

No, you can't. Tuition credits is a Non-Refundable Tax Credit. This means that any extra credits that are more than the Federal tax that you need to pay is not refundable. Using your tuition credits will not give you a refund. 

Question:

I paid $12,000 in tuition fees, why am I only getting $1,800 back? Don't I get the full $12,000 back?

Answer: 

The $12,000 tuition fees you paid becomes 12,000 tuition tax credits. The dollar amount of the 12,000 tuition tax credits is 15% of it, which is $1,800. The tuition tax credits amount is not the dollar value.

Question:

How do I pay my owing amount to CRA?

Answer: 

There are multiple ways to pay CRA:

• You can pay through your online banking by adding CRA as a Bill Payment and entering your SIN number as the Account Number

• You can pay in person at your financial institution. Ask your tax preparer for a Remittance Slip.

• You can pay through this link: https://www.canada.ca/en/revenue-agency/services/e-services/payment-save-time-pay-online.html

• You can mail a cheque to CRA. On the memo line to can write your SIN number and what the payment is for. You can also attach a copy of your Notice of Assessment (NOA) to the cheque.

• You can pay at a Canada Post retail outlet

Question:

I can't pay my full owing amount, can I pay it in installments?

Answer: 

Yes, you can. Call CRA directly at 1-866-864-5823 to make a payment arrangement with them.

Please note that although you have a payment arrangement made with CRA. When they make the GST and Carbon credit payments, if there is a balance owing, it usually gets applied to the balance owing.

Question:

How long after I file my tax return will I get my refund?

Answer: 

The usual processing time for CRA is 2 weeks. If you are set up for direct deposit, you will likely get it in your bank account within 2 weeks. If you are not set up for direct deposit, they will mail out the cheque within 2 weeks. It will arrive within 10 days of the mailing date, if Canada Post services permits.

Some returns take CRA longer to process. Once they complete processing it is when they send the refund. Receiving a Notice of Assessment means that CRA has processed the return.

Question:

How can I lower my owing amount or increase my refund?

Answer: 

There are multiple ways to lower your owing amount or increase your refund. Below are a few ways:

• Contributing to Registered Retirement Savings Plan (RRSP)
  
  Any contribution that you make on the 61st day  of a year to the 60th day of the following year. Usually March 2 to March 1, or March 1 to February 29 on a leap year. Is deductible to your taxable income, which lowers your taxable income.
  You can watch our Youtube videos for additional information on our channel MHU Tax Office.
  For example, You have an income of $60,000 for 2024 which you would have to pay 30.5% of tax on. If you contributed $15,000 in the RRSP contribution period (March 2, 2024 to March 1, 2025). Then your taxable income is now $45,000 instead of $60,000. You will now pay 25% of tax on your income instead of 30.5%. *It is important to keep your RRSP Contribution limit in mind when making contributions as CRA charges penalties and interest for overcontributing. Your limit changes every year. You can find your limit on your NOA and on your CRA account. Please note that the limit does not reflect contributions that you had already made in the year. 

• Contributing to First Home Savings Account (FHSA)
  
  

• Donations to Registered Canadian Charities
  
  For Alberta residents, on the first $200 donations you "get back" 75% ($150), and on the donations over the first $200 you "get back" 50% ($100). If you have a spouse or common-law partner, it is best to split up the donations, if there are multiple donation tax receipts, for each to claim at least $200 donations to get a better benefit.
  
  For example, if a total of $400 was donated to registered Canadian charities in 2024 by an Alberta resident, then you would either lower your owing or increase your refund by $250.
  
  For residents of all other provinces other than Alberta, it is best to claim all the donations on one person's return if you have a spouse or common-law partner.

• Claim the Home Buyers Amount, for first time home buyers
  
  If you had purchased a qualifying home for the first time in the tax year that you are filing, you can claim the Home Buyers Amount credit. This amount can be split between you and the other owner(s) based on the agreed upon percentage if they were also a first time home buyer. 

• 
  

Question:

I sold a house / I bought a house, do I need to report it?

Answer: 

Yes, you do.

If you sold a house and it was your primary residence, then you will need to report the disposition for the tax year that it was sold to get the exemption of not paying tax on the capital gain. There is a high penalty (up to $8,000 max) for late reporting or failure to report. 

If you sold a house that was not your primary residence, you will need to report it in your tax return. Your tax preparer will calculate the capital gain/loss. If there is a capital gain, you will pay tax on 50% of the capital gain (up to $250,000 capital gain). If there is a capital loss, this loss can only be applied to capital gain and can't be applied to your income to lower your taxable income. This capital loss can only be applied to any capital gain either in the prior three years or it will carryforward to be used for any future capital gain.

If you bought a house and it is your first time buying a house, and you have not lived in a house that your spouse or common-law partner owned, then you can claim the Home Buyers Amount in the tax year that you got possession of the house. The Home Buyers Amount is a $10,000 Non-Refundable Tax Credit which is a $1,500 benefit (15% of the $10,000 tax credit). This credit can be split with the other owners that are also first time home buyers. The combined total cannot be more than $10,000.

Question:

I thought I was going to get a $10,000 refund for buying a house for the first time. Why am I only getting $1,500?

Answer: 

$10,000 is the Non-Refundable Tax Credit. All Non-Refundable Tax Credits are not the dollar value. 15% of the Non-Refundable Tax Credit is the dollar amount. In this case, the $10,000 Non-Refundable Tax Credit dollar value is $1,500. Any Non-Refundable Tax Credit that exceeds the Federal Taxes payable is non-refundable, as stated in the name.

Question:

I have no income, do I have to file a tax return?

Answer: 

No, you do not have to file a tax return if you didn't have any income. But there are situations when it is beneficial to file a nil return (zero income return) such as:

• You want to receive the GST and Carbon Credits or any related provincial or territorial credits (this starts when the taxpayer turns 19 years old) 

• You need a Notice of Assessment (NOA)

• You want to begin or continue receiving Canada Child Benefit (CCB). If you have a spouse or common-law partner, both of your tax returns needs to be filed even if there is zero income for CRA to pay the CCB.

Question:

Why did my friend get a higher refund than me when we work at the same place and have the same income?

Answer: 

We are unable to discuss another client's tax file nor would we be able to know exactly why someone is getting a higher refund without seeing their tax return. If your friend is comfortable to share their tax file with you so that you both can compare to see why there is a difference, then that could be an option. But the overall answer is that just because you have the same income as another person doesn't mean that you will get the same refund or owing amount. There are so many factors involved and it is different for every individual. Everyone has different family situations, deductions, credits, etc. so the end result will also be different. 

Below are a few possible situations as to why there could be a difference: 

• There may be additional income from other sources;

• They may have made RRSP contributions;

• They may be getting more deducted in their pay cheques, or have additional tax being deducted from another source

• They have an eligible dependent

• Their spouse or common-law partner has lower income

• They have medical expenses to claim

• They made donations to registered Canadian charities

• They bought a house for the first time and claimed the Home Buyers Amount

• They have children and claimed the child care expenses that they paid

• They previously or are currently studying and had tuition credits available to use