The rules for using your tax refund to pay your partner's balance owing differ between federal and provincial tax authorities:
Federal (CRA):
- The CRA does not allow you to use your refund to offset your partner's balance owing
- Each taxpayer is responsible for their own balance with the CRA
Québec (Revenu Québec):
- Revenu Québec allows the transfer of refunds between partners
- This option is available only if both partners are Québec residents
For Québec residents:
To transfer your provincial refund to your partner's balance:
- Navigate to the Québec Refund section in your Wealthsimple Tax profile
- Enter the amount you wish to transfer to your partner in the How much will you transfer to your partner? field
Important notes:
- This transfer only applies to Québec provincial taxes
- Ensure both you and your partner are Québec residents
- The transfer amount cannot exceed your refund or your partner's balance owing
Remember:
- Keep records of any refund transfers for your files
- This option does not affect your federal tax situation
If you need assistance with the refund transfer process in Wealthsimple Tax, please contact Wealthsimple support.
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