Question
Mr. Johnson Ferrarmo is a supervisor at Retail Box Co. He received the following T4 slip: Employers name Retail Box Co. Social insurance number 527
Mr. Johnson Ferrarmo is a supervisor at Retail Box Co.
He received the following T4 slip:
Employers name
Retail Box Co.
Social insurance number
527 000 145
Year
2020
Employment income [14]
75,000.00
Income tax deducted [22]
12,800.00
Employees CPP contribution [16]
2,898.00
EI insurable earnings [24]
54,200.00
Employees EI premiums [18]
856.00
CPP pensionable earnings [26]
58,700.00
His personal information are as follows:
Marital Status: Single
Address: 941 Progress Avenue, Toronto, ON, M1G 3T8
Phone Number: 416-289-5000
Date of Birth: October 14, 1976
For the past 20 years, Johnson has been renting an apartment. He finally saved up enough money and purchased a condo at 941 Progress Avenue in April 2020. Johnson is very excited to have owned his first home.
Johnson made the following charitable donations:
Habitat for Humanity on April 17, 2020 $500
Red Cross on November 9, 2020 $750
In order to improve his career skills, Johnson took some leadership courses at Centennial College that he studied part-time. The tuition fees for 2020 totalled $1,020 and were for 4 months.
Johnson made a political contribution of $1,500 to a political party.
Johnson also has the following medical expenses:
Dentist visits (June 15, 2020) $ 725
Sauna sessions: Personal-use (May 8, 2020) $ 450
Prescribed antibiotics (January 19, 2020) $ 560
Eye examinations with optometrist (October 12, 2020) $ 220
Over-the-counter medication (August 1, 2020) $ 125
Doctor-prescribed sleep apnea machine (December 3, 2020)$2,000
Required: Prepare Mr. Johnson Ferrarmos T1 personal tax return for 2020 with minimum taxes payable.
Mr. Johnson Ferrarmo is a supervisor at Retail Box Co.
He received the following T4 slip:
Employers name | Retail Box Co. | Social insurance number | 527 000 145 |
Year | 2020 |
|
|
Employment income [14] | 75,000.00 | Income tax deducted [22] | 12,800.00 |
Employees CPP contribution [16] | 2,898.00 | EI insurable earnings [24] | 54,200.00 |
Employees EI premiums [18] | 856.00 | CPP pensionable earnings [26] | 58,700.00 |
His personal information are as follows:
Marital Status: Single
Address: 941 Progress Avenue, Toronto, ON, M1G 3T8
Phone Number: 416-289-5000
Date of Birth: October 14, 1976
For the past 20 years, Johnson has been renting an apartment. He finally saved up enough money and purchased a condo at 941 Progress Avenue in April 2020. Johnson is very excited to have owned his first home.
Johnson made the following charitable donations:
Habitat for Humanity on April 17, 2020 $500
Red Cross on November 9, 2020 $750
In order to improve his career skills, Johnson took some leadership courses at Centennial College that he studied part-time. The tuition fees for 2020 totalled $1,020 and were for 4 months.
Johnson made a political contribution of $1,500 to a political party.
Johnson also has the following medical expenses:
Dentist visits (June 15, 2020) $ 725
Sauna sessions: Personal-use (May 8, 2020) $ 450
Prescribed antibiotics (January 19, 2020) $ 560
Eye examinations with optometrist (October 12, 2020) $ 220
Over-the-counter medication (August 1, 2020) $ 125
Doctor-prescribed sleep apnea machine (December 3, 2020)$2,000
Required: Prepare Mr. Johnson Ferrarmos T1 personal tax return for 2020 with minimum taxes payable.
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