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2010 T1 Guide--ACCT 3335 - General Income Tax and Benefit...

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General Income Tax and Benefit Guide – 2010 5000-G
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www.cra.gc.ca his guide will help you complete your 2010 income tax and benefit return. It is important to use the package for the province or territory where you lived at the end of the year so that your provincial or territorial tax and credits can be calculated properly. To make sure you are using the correct package, see “Which tax package should you use?” on page 7. If you have a visual impairment, you can get our publications in braille, large print, etext (CD or diskette), or MP3 by going to www.cra.gc.ca/alternate or by calling 1-800-959-2221 . You can also get your personalized correspondence in these formats by calling 1-800-959-8281 . Some subjects in this guide relate to a numbered line on the return. We provide information about these subjects in the same order that the lines appear on the return or schedule. To find information about other subjects, see the Index on page 58 . Page What’s new for 2010? .......................................................... 3 Elections Canada .................................................................. 4 General information ............................................................ 5 Before you start .................................................................. 5 Getting started ................................................................... 8 Identification, income, and deductions ............................ 9 Identification ...................................................................... 9 Goods and services tax/harmonized sales tax (GST/HST) credit application ............................... 10 Foreign income .................................................................. 10 Total income (lines 101 to 146) ......................................... 11 Net income (lines 206 to 236) ........................................... 22 Taxable income (lines 244 to 256) .................................... 30 Page Federal tax and credits (Schedule 1) ................................. 32 Federal non-refundable tax credits (lines 300 to 378) ............................................... 32 Net federal tax (lines 405 to 427, except lines 421 and 422) .............................................. 46 Refund or Balance owing (lines 421, 422, 428, 430, and 437 to 485) ................................................. 49 How to file your return ...................................................... 54 After you file ........................................................................ 55 For more information ......................................................... 56 Index ..................................................................................... 58 TIPS (Tax Information Phone Service) ............................. 60 Most popular addresses on our Web site ......................... 61 La version française de cette publication est intitulée Guide général d’impôt et de prestations – 2010 . Is this guide for you? T Table of Contents
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www.cra.gc.ca 3 e list the major changes below, including income tax changes that have been announced but were not law at the time of printing. If they become law as proposed, they will be effective for 2010 or as of the dates indicated. For more information on these and other changes, see the areas outlined in colour in this guide. Universal Child Care Benefits (UCCB) (line 117) – If you were a single parent on December 31, 2010, you can choose to include all UCCB amounts you received in 2010 in the income of a dependant. For more information, see page 15. Election to defer security option benefits (line 101) – If you exercised an option and bought eligible securities after 4:00 p.m. EST on March 4, 2010, the election to defer the security option benefits will no longer be available for those securities. For more information about security option benefits, see page 12. Special relief for tax deferral elections on security option benefits (lines 127 and 249) – You may elect for special relief in respect of gains from a disposition of eligible securities on which you elected in a previous year to defer the security option benefits. For more information, see Form RC310, Election for Special Relief for Tax Deferral Election on Employee Security Options , or Guide T4037, Capital Gains .
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