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mec_calendars

Is my cash refund taxable?

  • A tax of 15% is withheld from refunds exceeding $100.
  • If your purchases are for personal use they are not taxable and you can claim back this amount as pre-paid income tax by using box 22 of your T4A and including this amount on line 437 of your income tax return.
  • If your purchases are for business purposes the amount of your refund can be included as part of your income tax calculation.

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