Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

English CANCanada Revenue AgencyAgence du revenue du Canada 2 0 2 3 Personal Tax Credits Return Protected B when completed TD 1 Read page 2

English
CANCanada Revenue AgencyAgence du revenue du Canada2023 Personal Tax Credits Return
Protected B when completed
TD1
Read page 2 before filling out this form. Your employer or payer will use this form to determine the amount of your tax deductions
Fill out this form based on the best estimate of your circumstances.
If you do not fill out this form, your tax deductions will only include the basic personal amount, estimated by your employer or payer based on the income they pay you.
Last Name
Singh
First Name and intial(s)
Ghanpreet
Date of Birth (YYYY/MM/DD)
10/13/1998
Employee Number
Address including Postal Code
For non-residents only -
Country of permanent residence
Social Insurance Number
1. Basic personal amount Every resident of Canada can enter a basic personal amount of $15,000. However, if your net income from all sources will be greater than $165,430 and you enter $15,000, you may have an amount owing on your income tax and benefit return at the end of the tax year. If your income from all sources will be greater than $156,430, you have the option to calculate a partial claim. To do so, fill in the appropriate section of Form TD1-WS, Worksheet for the 2023 Personal Tax Credits Return, and enter the calculated amount here.
2. Canada caregiver amount for infirm children under age 18 Only one parent (but not both), may claim $2,499 for each infirm child born in 2006 or later, who lives with both parents throughout the year. If the child does not live with both parents throughout the year, the parent who has the right to claim the "Amount for an eligible dependant" on Line 8 may also claim the Canada caregiver amount for the child.
3. Age amount If you will be 65 or older on December 31,2023, and your net income for the year from all sources will be $42,335 or less, enter $8,396. You may enter a partial amount if your net income for the year will be between $42,335 and $98,309. To calculate a partial amount, fill out the line 3 section of Form TD1-WS.
4. Pension income amount If you will receive regular pension payments from a pension plan or fund (not including Canada Pension Plan, Quebec Pension Plan, old age security, or guaranteed income supplement payments), enter whichever is less: $2,000 or your estimated annual pension income.
5. Tuition (full-time and part-time) Fill in this section if you are a student at a university or college, or an educational institution certified by Employment and Social Development Canada, and you will pay more than $100 per institution in tuition fees. Enter the total tuition fees that you will pay if you are a full-time or part-time student.
6. Disability amount If you will claim the disability amount on your income tax and benefit return by using Form T2201, Disability Tax Credit Certificate, enter $9,428.
7. Spouse or common-law partner amount Enter the difference between the amount on line 1(line 1 plus $2,499 if your spouse or common-law partner is infirm) and your spouse's or common-law partner's estimated net income for the year if both of the following conditions apply:
You are supporting your spouse or common-law partner who lives with you
Your spouse or common-law partner's net income for the year will be less than the amount on line 1(line 1 plus $2,499 if your spouse or common-law partner is infirm)
In all cases, go to line 9 if your spouse or common-law partner is infirm and has a net income for the year of $26,782 or less
8. Amount for an eligible dependant Enter the difference between the amount on line 1(line 1 plus $2,499 if your eligible dependant is infirm) and your eligible dependant's estimated net income for the year if all of the following conditions apply:
You do not have a spouse or common-law partner, or you have a spouse or common-law partner who does not live with you and who you are not supporting or being supported by
You are supporting the dependant who is related to you and lives with you
The dependant's net income for the year will be less than the amount on line 1(line 1 plus $2,499 if your dependant is infirm and you cannot claim the Canada caregiver amount for infirm children under 18 years of age for this dependant)
In all cases, go to line 9 if your dependant is 18 years or older, infirm, and has a net income for the year of $26,782 or less
9. Canada caregiver amount for eligible dependant or spouse or common-law partner - Fill out this section if, at any time in the year, you support an infirm eligible dependant (aged 18 or older) or an infirm spouse or common-law partner whose net income for the year will be $26,782 or less. To calculate the amount you may enter here, fill out the line 9 section of Form TD1-WS.
10. Canada caregiver amount for dependant(s) age 18 or older If, at any time in the year, you support an infirm dependant age 18 or older (other than the spouse or common-law partner or eligible dependant you

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Routledge Handbook Of Environmental Accounting

Authors: Jan Bebbington, Carlos Larrinaga, Brendan O'Dwyer, Ian Thomson

1st Edition

0367724901, 9780367724900

More Books

Students also viewed these Accounting questions

Question

please I have 30mins to submit please

Answered: 1 week ago