Turbo tax put an amount on line 22215 (deduction for enhanced CPP) on my return. It did the same last year and I got reassessed as there should be no amount here.
Turbo tax put an amount on line 22215 (deduction for enhanced CPP) on my return. It did the same last year and I got reassessed as there should be no amount here.
If you are receiving a CPP or EI Tax Credit, you likely overpaid what you owed.
According to Canada Revenue Agency (CRA) When you do your taxes, your CPP contributions must be separated into two parts: base CPP contributions and enhanced CPP contributions. Base contributions are calculated at a rate of 4.95%. Any amount above that is your enhanced contribution.
TurboTax is certified for NETFILE and the software does all the necessary calculations. It means that the software will automatically separate and apply the base and enhanced contributions for you.