This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith.
Question:
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith.
Question 1
T1 - step 4 - line 66
This is Anna's taxable income
Answer:
Question 2
T1 - step 5: part A - line 73
Anna's tax payable based on her taxable income
Answer:
Question 3
T1 - Step 5 - part B - line 104 and 111
Answer:
Question 4
T1 - step 5 - part B - line 115
Anna's total federal non-refundable tax credits
Question 5
T1 - step 5: part C - line 123, 131 and 139
(all values the same)
Net federal tax - total amount of tax that Anna owes the federal government
Question 6
ON428 - Part A - line 8
Amount of tax payable provincially according to Anna's taxable income
Question 7
ON428 - Part B - line 35 and 44
Question 8
ON428 - Part B - line 50
Total Ontario non-refundable tax credits
Question 9
ON428 - Part C - lines 55, 61, 62, 73, 83, 84 and 88
(all values the same)
Question 10
ON428 - Part C - line 90
Net provincial tax - total amount of tax that Anna owes the provincial government
Question 11
ON-BEN - 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 12
T1 - Step 6 - line 145
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 13
T1 - Step 7 - line 48400
What is Anna's final Refund amount that she will be receiving from the government?
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill