Intuit survey dreams up deduction wish list
EDMONTON, March 31 /CNW/ - If Canadians had a magic button and could
press it to deduct one bothersome thing from their lives, credit card debt and
mortgage payments would be the first to go. According to a new Angus Reid
Strategies survey sponsored by Intuit Canada, makers of QuickTax, debt is at
the top of Canadians' deduction wish list, with stress and weight gain
following close behind.
"Canadians know it's perfectly okay to dream, but they certainly don't
have their heads in the clouds when it comes to the approaching tax deadline,"
said Cameron Moore, Intuit Canada's QuickTax product manager. "QuickTax's new
Deduction Maximizer tool helps them get real with their taxes, offering a
comprehensive list of deductions that aren't general public knowledge, so they
can get the best possible tax return."
Debt is the first to go
The Angus Reid/Intuit study, which polled 1,045 people across Canada,
revealed there's some interesting dreaming going on:- More than one-quarter (26 per cent) of respondents would strike
credit card debt from their everyday life if they had the chance,
followed by mortgage debt (22 per cent) and winter's extra pounds
(15 per cent).
- Atlantic Canadians were the biggest credit card debt dreamers, with
32 per cent claiming they would strike it before anything else
compared to only 22 per cent in Alberta. Atlantic Canadians tied with
Quebeckers for deducting school debt (14 per cent each).
- Not surprisingly, mortgage debt elimination was highest in Ontario
where housing prices continue to skyrocket.
- Ten per cent of Canadians are eager to get rid of school debt while
another 10 per cent would deduct work stress and seven per cent would
choose snow.
- Annoying partners/spouses and in-laws appear manageable, each
accounting for just one per cent of deduction button wishes. Those
living in Manitoba and Saskatchewan feel otherwise, with
five per cent wishing to eliminate annoying partners/spouses.
Three per cent of Albertans would ditch the in-laws if they had the
chance.
- While it's unclear who's actually fatter or more stressed, women
ranked higher than men in wishing their extra pounds away
(17 per cent vs. 13 per cent) while men ranked slightly higher than
women in wishing their stress away (10 per cent vs. 9 per cent). But
when it came to credit card debt, a whopping 30 per cent of women
wanted to dream it away compared to 21 per cent of men.
- The largest group that wished their credit card debt to disappear
were between 35 and 54 years old (33 per cent), followed by those
over 55 (23 per cent).QuickTax's Deduction Maximizer identifies more places to save on taxes
To relieve some of this stress, QuickTax, Canada's No. 1 best-selling tax
software(i), now offers the exclusive Deduction Maximizer toolbox that
identifies every possible deduction, many of which are not known to taxpayers.
The easily searchable A-Y list of deductions includes adoption expenses,
cosmetic surgery, electrolysis, laser eye surgery, gluten-free products, water
filters, interest paid on student loans, tutoring services, renovations,
babysitting services and many more categories. By using the Deduction
Maximizer, QuickTax helps users receive the refund they deserve.
About the Survey
From March 17 to March 18, 2008, Angus Reid Strategies conducted an
online survey among a randomly selected, representative sample of 1,045 adult
Canadians, balanced on age, gender and region. Discrepancies in or between
totals are due to rounding.
About Intuit Canada
Intuit Canada Limited is a leading provider of business, financial and
tax management solutions for small- and mid-sized businesses, consumers and
accounting professionals. Key products and services include Quicken(R),
QuickBooks(R), QuickBooks(R) Succès PME, QuickTax, and ImpôtRapide(MC). Intuit
Canada Limited directly, or through its partners, offers ProFile(R), a
professional tax preparation software suite, the QuickBooks ProAdvisor
Program, the Intuit Developer Network for professional users and developers
and other products and services. Intuit Canada Limited and its partners enable
individuals, small businesses, retailers and financial professionals to better
manage their financial lives and businesses. Visit www.intuit.ca and
www.accountant.intuit.ca for additional product information. Intuit Canada
Limited is headquartered in Edmonton and has employees located in Calgary,
Toronto, Montreal and Ottawa. Intuit Canada Limited is a subsidiary of Intuit
Inc., and is listed on the Nasdaq stock market under the symbol INTU.
QuickTax is the registered mark of LexisNexis Canada Inc., used by Intuit
Canada under license.
Based on aggregate retail personal tax software sales, as sourced by NPD
for year ending June 2007.