Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Provide answers to each of the following questions. A. Under what circumstances must an individual file an income tax return? If an individual is required

Provide answers to each of the following questions.\ A. Under what circumstances must an individual file an income tax return? If an individual is required to file an income tax return, by what date must it be filed?\ B. Jane Dallas filed her 2023 income tax return by her filing due date of April 30, 2024. She received her notice of assessment on July 15,2024 . The notice did not indicate any issues with her income tax return which was accepted as filed. On January 13,2025 , she receives a notice of reassessment, indicating that deductions of

$15,000

were being disallowed and that she owed an additional

$5,900

in income tax as a result. The reassessment was dated January 10, 2025. Jane does not agree with the reassessment and has asked for your advice on how to deal with the situation. Outline the steps that should be taken to contest or challenge the reassessment.\ Part A\ What are the criteria in which an individual must file an income tax return? Select all that apply.\ A. The individual has elected to split a pension income with a spouse or common-law partner.\ B. To qualify for the Climate Action Incentive payment\ C. The individual has disposed of a capital property including a principal residence.\ D. The individual has income tax payable.\ E. The individual is requested by the CRA to file an income tax return.\ F. The individual has to contribute to the Canada Pension Plan or is required to pav emplovment insurance

image text in transcribed
Provide answers to each of the following questions. A. Under what circumstances must an individual file an income tax return? If an individual is required to file an income tax return, by what date must it be filed? B. Jane Dallas filed her 2023 income tax return by her filing due date of April 30, 2024. She received her notice of assessment on July 15,2024 . The notice did not indicate any issues with her income tax return which was accepted as filed. On January 13, 2025, she receives a notice of reassessment, indicating that deductions of $15,000 were being disallowed and that she owed an additional $5,900 in income tax as a result. The reassessment was dated January 10, 2025. Jane does not agree with the reassessment and has asked for your advice on how to deal with the situation. Outline the steps that should be taken to contest or challenge the reassessment. Part A What are the criteria in which an individual must file an income tax return? Select all that apply. A. The individual has elected to split a pension income with a spouse or common-law partner. B. To qualify for the Climate Action Incentive payment C. The individual has disposed of a capital property including a principal residence. D. The individual has income tax payable. E. The individual is requested by the CRA to file an income tax return. F. The individual has to contribute to the Canada Pension Plan or is required to pav emplovment insurance

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

Accounting An Introduction

Authors: Eddie McLaney, Dr Peter Atrill, Eddie J. Mclan

5th Edition

0273733206, 978-0273733201

More Books

Students also viewed these Accounting questions