Well, it’s a good thing we didn’t hold our collective breaths.
But, for most people, unless they are a tax professional or really, really keen on tax topics, they likely didn’t know.
By that we mean that you can file for a reassessment of your taxes in each year and be sure to fill out Schedule 14, then apply the eligible amount.
It was only being used as a credit or deduction to reduce amount owed or increase the refund warranted.
And how many of us are really going to go through that entire process for three straight tax years? Well, hopefully some of us.
Of course, that opens another can of worms in the form of a potential audit.
Hunters Bay Radio is Muskoka’s not-for-profit Community Radio Station and the only radio station in Muskoka that is truly locally owned.