Question
5. Mary Singh, has the following information for her Income Tax Return this year: Net Capital Gains $10,000 Annual Union Dues $2,000 Employment Income $40,000
5. Mary Singh, has the following information for her Income Tax Return this year:
Net Capital Gains | $10,000 |
Annual Union Dues | $2,000 |
Employment Income | $40,000 |
RRSP Deduction | $10,000 |
Employment Expense Deduction | $3,000 |
Please choose the most accurate answer for Mary's T1 Income Tax Return this year?
The Taxable Capital Gains is $5,000 The Taxable Income is $35,000 The Net income is $30,000 The Employment Income is $45,000 | ||
The Taxable Capital Gains is $5,000 The Taxable Income is $40,000 The Net income is $40,000 The Total Income is $50,000 | ||
The Taxable Capital Gains is $10,000 The Taxable Income is $40,000 The Net income is $40,000 The Total Income is $45,000 | ||
The Taxable Capital Gains is $5,000 The Taxable Income is $30,000 The Net income is $30,000 The Total Income is $45,000 |
8.
Mary Singh, has the following information for her Income Tax Return this year:
Net Taxable Capital Gains | $10,000 |
CPP Payroll Deduction, (NRTC portion only) | $1,600 |
Employment Income | $30,000 |
EI Payroll Deduction | $500 |
RRSP Deduction | $5,000 |
Assume all information is complete,accurate and correct.
Please choose the best and most accurate answer?
The Non-Refundable Credit, Line 33500 is $15,165 The Total Net Income, Line 23600 is $40,000 | ||
The Non-Refundable Credit, Line 33500 is $15,808 The Total Income, Line 15000 is $35,000 | ||
The Non-Refundable Credit, Line 33500 is $17,065 The Total Net Income, Line 23600 is $30,000 | ||
The Non-Refundable Credit, Line 33500 is $17,165 The Total Income, Line 23600 is $35,000 |
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