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Mitchell is single, lives in a rented apartment. He has recently graduated from university and is currently employed as an insurance agent. The following is

Mitchell is single, lives in a rented apartment. He has recently graduated from university and is currently employed as an insurance agent. The following is the information that he needs to complete his 2007 income tax form:

Employment Income 23,000
Interest Income 150
RRSP Contribution 1,200
Professional Dues 125
CPP Contributions 965
EI Premiums 414
Public Transit Passes 375
Charitable Donations 140
Tuition 2,263
Education Amount and Textbooks (4 Months full-time, Column C)
OSAP Interest Payment 490
Income Tax Deducted at Source 1,600
Rent (Ontario Tax Credit) 4,200

Please Answer for Line 150, 233 and 260

Make sure you include line 363 on schedule 1

What is Mitchell's federal marginal tax rate?

What is his combined marginal tax rate?

What is his average tax rate?

Make sure you complete the assignment in the correct order, there are six sections in total.

T1 General Form pages 2 and 3

Schedule 1

Ontario Tax Form ON 428

Ontario Credits ON 479

T1 General page 4

Tax Rates

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