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Donations went to the wrong spouse's return
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| Posted By |
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| stardancer |
| posted on:
May 09, 2009 at 9:34 am
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Yes, you will be charged interest. Although spousal returns affect each other's in certain areas, CRA considers them individual and separate.
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| a_merc |
posted on: April 02, 2009 at 12:48 pm
This year I asked my tax return preparer if it would be better if my donations were used on my spouse's return. They tried it and our combined return was much larger.
When I asked them if the same would have been true last year (tax year 2007), they found out that our combined return could have been $1000 higher. But when I suggested an T1-adjustment they advised me not to. They told me that I would charged interest of 26% and claimed it would not be worth it.
If I received too large of a return last year and my wife received too little of one --- am I really going to be charged an interest penalty?
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