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03-29-2013, 11:22 PM
Join Date: Jun 2012
Location: somewhere flat
Originally Posted by
Can't do anything about it. Thousands of dollers in rrsp contributions and daycare payments but i still end up oweing.
I'll make all you guys feel better....
It's not all bad news, but I changed jobs a while ago and have been undergoing a pension transfer process though it all. Some has been good - I'm getting more pensionable years in and that will help me in the end big time. But in the transfer process I had to take some cash as well and I'll owe an additional $10,000 or so in taxes come the end of April.
On top of that I'll probably have to liquidate some RRSPs and pay tax on that as well because I need the room for the years of pensionable service I bought back. Woe is me but I don't have any RRSP room. So that adds probably another $12,000.
All totaled up I'll likely be paying the feds $22K this April
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