Just calculated my 1st tax return. Made roughly 6300 net income. Is it reasonable that my refund is $900?

Question

Also, only deductions were tax,cpp and uic...just wondering if the refund is right?

Answer 1

If your net income (line 236) is $6300, the you are not subject to any income tax. Federal income tax starts to be payable when your income reaches $9,600. Provincial taxes start at different levels depending on where you live, but none of the provinces have taxes payable when your income is less than $7,200.

In your case, any amount withheld for tax (box 22 on your T4) would be refunded to you. In addition, you may qualify for the Working Income Tax benefit (Schedule 6). You may also be able to claim sales tax credits if you live in BC, Ontario or Manitoba, and the last two of those provinces also allow a credit based on paying rent or property taxes.