She is required by her employer to use her own automobile, Jeep Cherokee, in the course of
Question:
costs, gas, repairs and maintenance, are $8,000. She drove her car 20,000 kilometres
during the year; 12,000 kilometres of this amount was for employment purposes.
Her spouse,
Alex Pinkman, had employment income in 2021 of $5,000 from her part-time
job
.
Jessie was enrolled as a part-time student
for 8 months in 2021
at Toronto's preeminent
post-secondary institution, Seneca College, and took two courses during the year at a cost
of $4,600.
In addition to the donations reported on her T4, Jessie made charitable donations of
$3,400 to the United Way in 2021.
Jessie incurred medical expenses of $5,600 for her family for the 12-month period ending
on September 30, 2021. This was the 12-month period ending in 2021 for which she
incurred the highest amount of medical expenses. For the 2021 calendar year, her
medical expenses for her family totaled $5,200.
Regarding medical expenses in the CanTax Assignment, you must complete the T1-MED
form.
Date of Payment: any date in 2021
o
Name of Patient: Jessie Pinkman
o
Description of Medical Expenses:
Prescription drugs
o
Amount Paid: 5,600
o
REQUIRED: Use CanTax T1 2021 software to complete Jessie Pinkman's 2021 personal tax
return. The return you submit should include balances on all relevant lines and forms required
to determine Jessie's:
a.
Employment Income (8 marks)
b.
Total Income (2 mark)
c.
Net Income (8 marks)
d.
Taxable Income (2 mark)
e.
Federal tax liability (6 marks)
f.
Non-refundable tax credits (20 marks)
g.
Federal tax payable or refund (4 marks)
Let the software calculate provincial income tax.
Introduction To Federal Income Taxation In Canada 2016-2017
ISBN: 9781554968725
37th Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett