Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Explain in detail please 1. Ann received $8,400 of regular employment insurance benefits during 2019, and has a repayment rate of 30% in Box 7.

Explain in detail please

1. Ann received $8,400 of regular employment insurance benefits during 2019, and has a repayment rate of 30% in Box 7. At what net income level will she be subject to claw back on the benefits she received?

$50,800

$55,900

$64,500

$73,756

2. Veronica, a 20-year-old single parent with 2-year-old daughter, live in Manitoba. Her income last year was $14,000 from employment, $15,000 from scholarships, and $7,000 of CCB payment. She was a full-time student for 8 months. Is Veronica eligible to receive a Canada Workers Benefit? YES or NO?

3. Stanley received $400 in actual dividend from a taxable Canadian corporation that issues eligible dividends. He also received $150 interest from regular Canada Saving Bonds (CSB) and $100 interest from his savings account. He paid $70 interest on loan to purchase the CSBs, and $130 for a subscription to an investment newsletter. what is the dollar amount of interest income reported on Stanley's return?

$100

$150

$180

$250

$320

4. Albert purchased a spousal RSSP for his wife, Loretta. Who is the contributor and who is the annuitant?

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

Step: 3

blur-text-image

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

Economics Private And Public Choice

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

17th Edition

0357133994, 9780357133996

More Books

Students also viewed these Accounting questions

Question

2. Avoid basing most of a report-card grade on one test.

Answered: 1 week ago

Question

How do you try to manipulate your unique smell?

Answered: 1 week ago