John (67) is a very energetic person who does not believe in real retirement. He found...

 

Transcribed Image Text:

John (67) is a very energetic person who does not believe in real retirement. He found a new part time work to help his community after retirement from his long-time job. The new job will pay him $20,000 a year and will start from March 3, 2024. The retirement pension from his company is $23,000 a year. He is expecting to make a total of $61,500 in 2024 from all sources including the income from the new job. He was asked to complete and submit TD1 and ONTD1 with his joining. John is single, likes to play golf and travel small cities during his vacation time. He kept a log of all his travel km which added to 22,000 km during 2023 What amount should he enter in line 3 of TD1? John (67) is a very energetic person who does not believe in real retirement. He found a new part time work to help his community after retirement from his long-time job. The new job will pay him $20,000 a year and will start from March 3, 2024. The retirement pension from his company is $23,000 a year. He is expecting to make a total of $61,500 in 2024 from all sources including the income from the new job. He was asked to complete and submit TD1 and ONTD1 with his joining. John is single, likes to play golf and travel small cities during his vacation time. He kept a log of all his travel km which added to 22,000 km during 2023 What amount should he enter in line 3 of TD1?

Answer rating: 100% (QA)

To calculate the amount John should enter on line 3 of his TD1 ... View the full answer