ACCT3080 Fall 2023 Cantax T1 Online Test 2 Please complete the T1 return using the information...

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ACCT3080 Fall 2023 Cantax T1 Online Test 2 Please complete the T1 return using the information below. When completed, upload the return file to the assigned dropbox (Course Tools/Assignments/Cantax Test 2). Ms. Victoria Sanatra's husband died two years ago. After her husband died, she moved from her house in Victoria, B.C., to a rented house in Victoria, B.C. Ms. Sanatra's widowed mother, Samantha Vancouver, lives with Ms. Victoria and takes care of the house, Ms. Sanatra's younger daughter, Sandy, and all of the household cooking. Samantha has a small income from her deceased husband's life insurance policy. She has never filed an income tax return, and she is not infirm None of the clients have any foreign income of $100,000 or more. They want to share the information with elections Canada and not sold any principal residences last year. Sammy Sanatra, Victoria's older daughter, is studying psychology at the University of Waterloo. Her field is addiction research with a special emphasis on gambling. She does volunteer work at a gambling addiction treatment centre in Waterloo in the summers. As Victoria has paid for her tuition and living expenses, Sammy has agreed that the maximum tuition amount should be transferred to her mother. Sammy has decided not to file an income tax return this year as she knows she does not owe any income tax. Her income was earned driving for a client of the addiction treatment centre who had lost his licence after being charged with impaired driving Information concerning Ms. Sanatra for 2022 is provided on the following pages. Required: With the objective of minimizing Ms. Sanatra's income tax payable, prepare the 2022 income tax return of Victoria using the Cantax software program. List any assumptions you have made and any notes and tax planning issues you feel should be discussed with Ms. Victoria. Ignore GST implications in your solution by assuming that Ms. Victoria does not qualify for the GST/HST rebate. Personal Information Title First Name Ms. Personal Information Title First Name Last Name SIN Date of birth (Y/M/D) Marital Status Ms. Victorial Sanatra 527-000-087 1974-05-15 Widowed Canadian Citizen? Yes Provide Information to Elections Canada? Yes Owns Foreign Property of More than $100,000 Canadian? Taxpayer's Address 111 VW Street Victoria, B.C. V4H 3W4 Phone number (250) 111-1111 Dependants No Child 1 Child 2 Mother Net income T4 Dependants Child 11 Child 2 Mother First Name Sammy Sandy Samantha Last Name Sanatra Sanatra Marco SIN 527-000-293 None 527-000-483 Date of birth (Y/M/D) 2001-05-14 2009-10-11 1949-05-21 $3,500 Nil $6,000 Box Amount Issuer-Fine Foods Canada Inc. Employment income 14 73,000 Employee's CPP contributions 16 3,500 Employee's El premiums 18 953 RPP contributions 20 3,700 Pension adjustment (PA) 52 8,900 Income tax deducted 22 16,000 Employment commissions 42 0 Union dues 44 870 Charitable donations 40 485 Victoria runs a side business. Her Business revenue for 2022 totalled $37,000 During 2021 she paid the following business expenses Travel expense $6,300 Utilities (hydro and gas) for the year 3,600 Licence fee 2,000 Delivery and Shipping 11,000 Oth She has a non-capital loss balance of $11,000, which was incurred in 2018 and a net capital loss balance of $11,000 from 2011 available to use. Victoria and her family had the following medical expenses, all of which Victoria paid for Patient (Y/M/D) Medical Expenses Description Amount Victoria 2022-08-15 Grace Hospital Ambulance 275 charge Victoria 2022-08-18 Paramed Home Health Nursing care 1,768 Samantha 2022-05-20 Dr. Zhang Contact lenses 250 (Optometrist) Samantha Sammy Sandy 2022-07-06 Pharmacy Prescription 467 2022-09-01 Dr. Glassman Physiotherapist 550 2022-05-11 Walk Right Foot Orthotics 450 Clinic Sandy 2022-01-23 Dr. Tamo Dental Fees 2,350 T2202-(Sammy) Box Amount Tuition fees-for Sammy Victoria (daughter) A 12,000 Number of months in school-part time B 0 C 8 Number of months in school-full time Donor Charitable Donation Receipts Am't Victoria Heart and Stroke Foundation 350 Victoria Terry Fox Foundation 200 Sammy Addiction Research Council of Canada 170 ACCT3080 Fall 2023 Cantax T1 Online Test 2 Please complete the T1 return using the information below. When completed, upload the return file to the assigned dropbox (Course Tools/Assignments/Cantax Test 2). Ms. Victoria Sanatra's husband died two years ago. After her husband died, she moved from her house in Victoria, B.C., to a rented house in Victoria, B.C. Ms. Sanatra's widowed mother, Samantha Vancouver, lives with Ms. Victoria and takes care of the house, Ms. Sanatra's younger daughter, Sandy, and all of the household cooking. Samantha has a small income from her deceased husband's life insurance policy. She has never filed an income tax return, and she is not infirm None of the clients have any foreign income of $100,000 or more. They want to share the information with elections Canada and not sold any principal residences last year. Sammy Sanatra, Victoria's older daughter, is studying psychology at the University of Waterloo. Her field is addiction research with a special emphasis on gambling. She does volunteer work at a gambling addiction treatment centre in Waterloo in the summers. As Victoria has paid for her tuition and living expenses, Sammy has agreed that the maximum tuition amount should be transferred to her mother. Sammy has decided not to file an income tax return this year as she knows she does not owe any income tax. Her income was earned driving for a client of the addiction treatment centre who had lost his licence after being charged with impaired driving Information concerning Ms. Sanatra for 2022 is provided on the following pages. Required: With the objective of minimizing Ms. Sanatra's income tax payable, prepare the 2022 income tax return of Victoria using the Cantax software program. List any assumptions you have made and any notes and tax planning issues you feel should be discussed with Ms. Victoria. Ignore GST implications in your solution by assuming that Ms. Victoria does not qualify for the GST/HST rebate. Personal Information Title First Name Ms. Personal Information Title First Name Last Name SIN Date of birth (Y/M/D) Marital Status Ms. Victorial Sanatra 527-000-087 1974-05-15 Widowed Canadian Citizen? Yes Provide Information to Elections Canada? Yes Owns Foreign Property of More than $100,000 Canadian? Taxpayer's Address 111 VW Street Victoria, B.C. V4H 3W4 Phone number (250) 111-1111 Dependants No Child 1 Child 2 Mother Net income T4 Dependants Child 11 Child 2 Mother First Name Sammy Sandy Samantha Last Name Sanatra Sanatra Marco SIN 527-000-293 None 527-000-483 Date of birth (Y/M/D) 2001-05-14 2009-10-11 1949-05-21 $3,500 Nil $6,000 Box Amount Issuer-Fine Foods Canada Inc. Employment income 14 73,000 Employee's CPP contributions 16 3,500 Employee's El premiums 18 953 RPP contributions 20 3,700 Pension adjustment (PA) 52 8,900 Income tax deducted 22 16,000 Employment commissions 42 0 Union dues 44 870 Charitable donations 40 485 Victoria runs a side business. Her Business revenue for 2022 totalled $37,000 During 2021 she paid the following business expenses Travel expense $6,300 Utilities (hydro and gas) for the year 3,600 Licence fee 2,000 Delivery and Shipping 11,000 Oth She has a non-capital loss balance of $11,000, which was incurred in 2018 and a net capital loss balance of $11,000 from 2011 available to use. Victoria and her family had the following medical expenses, all of which Victoria paid for Patient (Y/M/D) Medical Expenses Description Amount Victoria 2022-08-15 Grace Hospital Ambulance 275 charge Victoria 2022-08-18 Paramed Home Health Nursing care 1,768 Samantha 2022-05-20 Dr. Zhang Contact lenses 250 (Optometrist) Samantha Sammy Sandy 2022-07-06 Pharmacy Prescription 467 2022-09-01 Dr. Glassman Physiotherapist 550 2022-05-11 Walk Right Foot Orthotics 450 Clinic Sandy 2022-01-23 Dr. Tamo Dental Fees 2,350 T2202-(Sammy) Box Amount Tuition fees-for Sammy Victoria (daughter) A 12,000 Number of months in school-part time B 0 C 8 Number of months in school-full time Donor Charitable Donation Receipts Am't Victoria Heart and Stroke Foundation 350 Victoria Terry Fox Foundation 200 Sammy Addiction Research Council of Canada 170