Question: Hello, i have this assignment ,i would like to have a help tax return for it, thanks Keith Dox lives with his wife, Katie. Katie's
Hello, i have this assignment ,i would like to have a help tax return for it, thanks
Keith Dox lives with his wife, Katie. Katie's net and taxable income is $34,000. Her income consists of one T4 and $4,500 in tips. She has already filed her own return.
Keith and Katie sold their original home located at 216 Bayfield Street, YourCity, YP, X7X 7X7, for $400,000 on March 31, 2023, before moving into their new home a few blocks away at their current address. They had purchased the house on Bayfield Street together in 2018; they lived exclusively at that address and had not owned any other residential property during the time they owned that home. Neither Keith nor Katie changed employment last year; they moved simply because they liked the new house.
Keith has a Tangerine investment account which pays him interest. He never received an information slip but was able to total up the $20.30 interest he received last year from Tangerine. Keith receives income each year on a T3slip from a trust that was set up by his father. Keith also has a Royal Bank savings account to which he contributes 25% of the funds, and Katie contributes the remaining 75%.
In 2018, Keith inherited a bank account in the US with a balance of US$120,000 from his uncle. At that time, the exchange rate was 1.2535. He neither contributed nor withdrew any amounts from this account. According to the 2023 bank statements, the account had a balance of US$124,000 on January 1st and US$125,240 on December31st. The bank statements also show that the only credits on this account are for monthly interest payments. For 2023, the annual average exchange rate was 1.3497. Keith is not a US Citizen. He does not need to file a US return.
In late 2021, Keith bought 10 shares of Metro Inc. Keith received four dividend payments in 2023, each payment being $2.75, for a total of $11.00. He did not receive a slip for this income, and Metro Inc. is a Canadian corporation that issues eligible dividends. Keith still has these shares and does not plan on selling them in the near future. He has a $25 receipt for management fees anda $75 receipt for investment counsel fees.
Keith always donates $300 each summer to the Terry Fox Foundation, which is a charitable organization registered with the Canada Revenue Agency. Keith wants to claim his donation each year versus saving for a future year. This year, Keith made a $200 political contribution to the federal Liberal Party of Canada, for which he has an official receipt.
Keith's T4 and other information slips are reproduced below. Last year Keith received a tax refund of $1,000, including $8.50 interest on the refund. He is hoping for a refund again this year.
the slips at the end
the questions are :
1-Manually complete Keith's tax return including all required schedules and forms, using the fillable forms package.
2. As part of this assignment, also complete Step 5 Part A for Katie's tax return (for her taxable income of $34,000).
Employer's name - Nom de l'employer Canada Revenue Agence du revenu gency du Canada T4 Year Statement of Remuneration Paid Annee 2023 Etat de la remuneration payee Neat As A Pin Employer-offered Employment income dental benefits Income tax deducted Revenus d'emploi Prestations dentaires Impot sur to revenu retony leries par l'employour 14 48,200,00 45 3 Employee's CPP contributions-see over Employee's OPP contributions - soo ovitt 54 Employer's account number / Numero de compte de Femployeur Fotisations de femploye au RPC-voir au verso Colisations de l'employe au RAQ - voir au verso Province of employment Province dempio 16 2,659.65 17 10 YP Employee's second CPP contributions-see over e's second OPP contributions - see over Social insurance number Exempt - Exemption Douxitros cotisations de l'employe au Douxiomes cotications de femploye au FRO - Numero d'assurance sociale CPP/OPP EI PPIP APC - voir au verso voir au verso 12 Employment code 805 127 115 28 16A 17A Code d'omplo RPC/RRO AE RPAP 29 El insurable earning CPP/OPP pansionable earnings Gains assurables d'AE Gains ouvrant droit a pension - RPC/RRO Employee's name and address - Nom et adresse de l'employe 24 48,200.00 26 48,200.00 First name - Pronom Initial - Initiale Employee's El premiums Union dues Colinations de l'employe a PAE Cotisations syndicales Dox Keith 18 785.66 44 240.00 Protected B when completed / Protege B une fois rempli APP contributions Charitable donations Cofisations a un RPA Dons de bienfaisance 18 Page Place 20 554.00 46 Your City, YP Pension adjustment APP or DPSP registration number acteur d'equivalence I dagrement d'un RPA ou d'un RPDB XOX OXO 52 1,108 00 50 3659573 Employee's PPIP premiums - see over IP insurable earnings Cotisations de employe au RPAP - voir au verso Gains assurables du RPAP 55 56 Box - Case Amount- Montant Box - Cas Amount - Montant Box - Case Amount - Montant Other information (see over) Autres Amount - Montant Amount - Montant Amount - Montant T4 (23) renseignements (voir au verso) Box 22: BC: 6,566; AB: 7,254; SK: 7,762; MB: 8,760; ON: 7,039; NB: 8,080; NS: 8,906; PE: 8,721; NL: 8,363; YT: 6,607; NT: 6,549; NU: 5,876Canada Revenue Agence du revenu Year 2023 Statement of Trust Income Allocations and Designations Agency du Canada Annee Etat des revenus de fiducia (repartitions et attributions) T3 Actual amount of eligible dividends Taxable amount of eligible dividends Dividend tax credit for eligible dividends Capital gains Capital gains eligible for deduction Montant reel des dividendes Montant imposable des dividendes Credit dimpot pour dividendes Gains en capital Gains en capital admissibles pour determines determines determines deduction 49 96.00 50 132.48 51 19.90 21 182 00 30 Actual amount of dividends other than Taxable amount of dividends other than Dividend tax credit for dividends other eligible dividends eligible dividends han eligible dividends Montant reel dies dividendes autres que des Montant imposable des dividendes Credit dimpot pour dividendes autres Other income Trust year end dividendes determines autres que des dividendes determines que des dividendes determines Autres revenus Fin d'annee de la fiducia 2 32 26 Your 23 Month Annde Mo's 12 Other Information Box / Capo Amount / Montant Box / Caso Amount / Montant Footnotes - Notes (see the back) Autres renseignements (lisez le verso) Recipient's name fast name first) and add-ons - Nom, prosom et adresse du beneficiaine Trust's name and address - Nom et adresse de la fiducia Protected B when completed / Protege B une fois rempli Dox, Keith Thomas Jefferson Dox Trust 18 Page Place Your City, YP XOX OXO Recipient identification number Account number Report code Beneficiary code Numero didentification du beneficialre Numero de compte Code du genre de feuillet Code du beneficialre For information, see the back. Pour obtenir des renseignements, 12 805 127 115 H T 48-9653-33 16 0 10 1 T3 (23) lisez le verso.Canada Revenue Agence du revenu Year T5 Statement of Investment Income Protected B / Protege B Agency du Canada Etat des revenus de placement 2023 when completed / une fois rempli Dividends from Canadian corporations = Dividendes do socities onadignng Federal credit - Credit federal Annee 24 Actual amount of eligible dividends Taxable amount of elgible dividends 26 Druidond tax credit for aligbe dividends 13 Interest from Canadian sources 18 Capital gains dividends 750.00 Momtant reel des dividendes offerines Montani Ispotable don dividendon Credit dinpot pour dividendes cite rinds Interets do source canadienne Dividendes sur gains on capital 10 Actual amount of dividend Taxable amount of dividends 12 Dividend tax credit for dividends 23 other than cigby dividends 11 offer han oigbe dividends offir than elig ble dividends 21 Report Code 22 Recipient identification number Recipient type O 805 127 115 Moment reel des dividendes Montani imposthe dos dividends Cadot d'impet pour childendes sures gue des dividendos determines autres que dos dividendes dilorings Code du fouillet Numir didentification du beneficiaire Type de beneficiaing Other information (see the back) Autres renseignements (lisez le dos) Box / Case Amount / Montant Box / Case Amount / Montant Box / Case Amount / Montant Recipient's name (last name first) and address - Nom, prenor et adresse du beneficialre Payer's name and address - Nom et adresse du payour Dox, Keith & Katie RBC Royal Bank 18 Page Place Your City, YP, XOX OXO Currency and identification codes 27 28 29 For information, see the back. Codes de devise et d'identification Pour obtenir des renseignements, Foreign currency Transit - Succursale Recipient account number Devises strangeres Numero de comple du beneficiaire lisez le dos. See the privacy notice on your return/ Consulter Tavis de confidentialite dans votre declaration. T5 (23)
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