terminated employment vs filing future income tax years

[HamsterGirl35]

Hi,
If one's job teminated sometime in 2005, one must claim for income tax in year 2006 for 2005 T4.

So, what if this person doesn't have any more jobs (ie, no EI, nothing from government) since Jan 1st, 2006, does he have to file his income tax in the year 2007 and going forward?

Thanks

[st7860]

Hi,
If one's job teminated sometime in 2005, one must claim for income tax in year 2006 for 2005 T4.

So, what if this person doesn't have any more jobs (ie, no EI, nothing from government) since Jan 1st, 2006, does he have to file his income tax in the year 2007 and going forward?

Thanks

in Canada you only need to file if

a) the revenue agency sends you a letter asking you to file
or
b) you have made enough money to trigger some income tax that wasn't already deducted.

[mystical2003]

In Canada, Income tax should be filed no matter what your income was. Otherwise you will not be entitled to any benefits such as GST rebates, or the Sales tax credit.

[Bullseye]

In Canada, Income tax should be filed no matter what your income was. Otherwise you will not be entitled to any benefits such as GST rebates, or the Sales tax credit.

That's right.

[HamsterGirl35]

Thanks for the valuable info...

[FastFokker]

Speaking of GST credit as an example, if the OP didn't file for the year and waited until the next year to file their return (effectively double filing for 2006/2007), would the GST backpay be covered in some kind of lump sum?

This isn't my situation, I was just curious if that's the case.. or do you just lose out entirely?

[mystical2003]

The gov't will pay out the gst you are entitled to in one lump sum.