QUESTION 1 *BONUS T2125 - part 3B - line 3H - part 3C - line 8299 -
Question:
QUESTION 1 *BONUS T2125 - part 3B - line 3H - part 3C - line 8299 - part 4 - line 4A (all same value)
QUESTION 2 *BONUS T2125 - part 7 - line 7H subtotal of business-use-of-home expenses
QUESTION 3 *BONUS T2125 - part 7 - line 7I personal portion of the business-use-of-home expenses
QUESTION 4 *BONUS T2125 - part 7 - line 7J business portion of business-use-of-home expenses
QUESTION 5 *BONUS T2125 - Area A - table from left to right calculation of capital cost allowance - amount that can be claimed of a capital expense for the year column 1 column 2 column 3 column 4 column 5 column 6 column 7 column 8 column 9 column 10 column 11 column 12 column 13
QUESTION 6 *BONUS T2125 - part 5 - line 9946 Anna's net income from her self-employment
QUESTION 7 T1 - step 2 - line 10 This is the amount of interest income Anna will be taxed on, according to the Worksheet for the Return
QUESTION 8 T1 - step 2 - line 28 This is Anna's total income 0.00351656
QUESTION 9 T1 - step 3 - line 31 This is the allowable RRSP deduction Anna can claim, according to the Schedule 7 form
QUESTION 15 T1 - step 4 - line 62 This is Anna's taxable income
QUESTION 16 T1 - step 5: part A - line 70 Anna's tax payable based on her taxable income
QUESTION 17 *BONUS S13 - line 9 The amount of additional EI premiums Anna owes on her self-employment income 0.5 points
QUESTION 18 T1 - Step 5 - part B - line 103
QUESTION 20 T1 - step 5 - part B - line 107 Anna's total federal non-refundable tax credits
QUESTION 21 T1 - step 5: part C - line 115, 117, 123, and 126 (all values the same) Net federal tax - total amount of tax that Anna owes the federal government 1 points
QUESTION 26 T1 - Step 7 - line 132 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 29 T1 - Step 7 - line 149 final credits counted against the tax you owe or result in taxes owed notice these may or may not be credited at 15% like a usual tax credit as some of them are amounts that have already been paid to the government which will count against any money owning, or result in them having to refund some
QUESTION 30 T1 - Step 7 - line 48400 OR 48500 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)
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t2125.html (T2125)
https://www.canada.ca/en/revenue-agency/services/forms-publications/tax-packages-years/general-income-tax-benefit-package/ontario/5006-r.html (T1)
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill