Question: T 2 1 2 5 - part 3 B - line 3 H - part 3 C - line 8 2 9 9 - part
T
part B line H
part C line
part line A
all same value
Question
T part line H
subtotal of businessuseofhome expenses
Question
T part line I
personal portion of the businessuseofhome expenses
Question
T part line J
business portion of businessuseofhome expenses
Question options:
Question
T Area A Table for CCA claim
Note: all columns that are not answers submitted below have a value of ZERO
Enter values, in order, for columns listed below:
Column
Question
T part line
Anna's net income from her selfemployment
Question
Federal Worksheet Line Interest and Other Investment Income line
This is the amount of interest income from her T that Anna will be taxed on
Question
T step line
This is Anna's total income
Question
T step line
This is the allowable RRSP deduction Anna can claim, according to the Schedule form
Question
S part line OR
The amount of CPP contributions Anna is able to claim as a tax credit
the amount she has already paid OR the amount she is correctly required to pay whichever is less
Question
S Part line OR
This is the amount of "enhanced CPP contributions" Anna may have paid. This will be counted as a deduction.
Question
S part b line
The additional amount of CPP contributions Anna owes on her selfemployment income
Question
S part b line
This is the employee portion of her selfemployment CPP expense that Anna recieves as a tax credit
Question
S part b line
The tax break Anna will receive to compensate for the employer portion of her CPP contributions on selfemployment income
usually an employer pays half and the employee pays the other half if you are selfemployed the government treats the employer half like a business expense and doesn't tax you on it therefore it's a deduction
Question
T step line
This is Anna's taxable income
Question
T step : part A line
Anna's tax payable based on her taxable income
Question
S line
The amount of additional EI premiums Anna owes on her selfemployment income
Question
T Step part B line and
Question
T step part B line
Anna's total federal nonrefundable tax credits
Question
S line
The amount of her charitable donation that Anna can claim federally
Question
T step : part C line and
all values the same
Net federal tax total amount of tax that Anna owes the federal government
Question
ON Part A line
Amount of tax payable provincially according to Anna's taxable income
Question
ON Part B line and
Question
ON Part B line
Total Ontario nonrefundable tax credits
Question
ON Part C lines and
all same value
Question
ON Part C line
Net provincial tax total amount of tax that Anna owes the provincial government
Question
ONBEN link provided at top of page
This simple form is only an application to be considered for the Ontario Trillium Benefit. However, by following the link provided at the top of that page and answering a few questions about Anna that we already know the answers to we can find the estimated that Anna qualifies for.
What is Anna's total estimated benefit amount?
Question
T Step line
This is Anna's total tax payable the total amount of tax that Anna owes for this year
but there are still some final amounts to be accounted for, such as taxes already paid...
Question
T Step line
final credits counted against the tax you owe or result in taxes owed including taxes already paid
Question
T Step line OR
What is Anna's final Refund amount that she will be receiving from the government? OR
What is Anna's final balance that she owes to the government?
note: the questions are intentionally phrased so that either way the answer should be a positive number
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
