How do I know these things?

I wanted to call in my tax return last week when I finished it. It was all ready, but I kept waiting. "Oh, Later." "I still have time." What kept me? Laziness?

Or subconscious knowledge of the last income form I just received?

In which I learned that there are no free gifts. I already mentioned how, at the staff christmas party, I was honoured with $200 of gift certificates for a nearby mall (which paid for a much better electric razor, and for the Guitar Hero game) for the excellent quality of my services throughout the year.

Well, that's reported as Other Income on a T4A, and I have to pay tax on that. Wheee. Maybe next time I'll think twice before accepting a bonus.

This was almost very significant, because with this in my income, I am now a mere three dollars and eighty-two cents below the next Ontario Health Premium/Tax threshold, beyond which the rate increases quickly. A mere $100 more earned over the entire year would have turned a reimbursement into paying more yet again. That $200 alone made my reimbursement go from $85 to $23. So it's a sizeable difference.

(As it was pure income without any deductions, I pay full tax on it - 22% federal and 9.15% provincial, so 31% - $62.30 straight more to pay, or in this case less to receive.)

Must remember to have my deductions increased. Tomorrow. Before the Pay and Benefits guy takes his retirement.