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ABC Company started their business on July 1, this year. ABC Company had two employees this year: Jane and Larry. The payroll is run semi-monthly.

ABC Company started their business on July 1, this year. ABC Company had two employees this year: Jane and Larry. The payroll is run semi-monthly.

Larry estimates that his net income, this year. will be $10,000 for TD-1 purposes.

Assume Jane and Larry work the entire period from July 1 to December 31, this year, or 6 month.

The following payroll data was provided for Jane and Larry:

Jane(40 yrs. old)

Larry(75 yrs. Old and Disabled)

Annual Salary

$24,000

$48,000

Claim Codes

Fed. 4 Prov. 5

To determine

Spouse

60 years old

Estimated Net Income: $50,000

No Children

No Children

Tuition

$2,000, Seneca Part Time 4 months.

Private Pension Income from Sun Life Assurance.

Estimated, $5,000 per year

(Pension Income)

Registered Pension Plan (RPP) Deduction

$50 per pay

$50 per pay

Please calculate the Ontario Claim Code for Larry this year, is Claim Code?

9

8

5

7

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