Question
Read the information below and follow the instructions Taxpayer Information: Taxpayer #1 Name: Keith Dox SIN: 805 127 115 DOB: August 13, 1987 Marital status:
Read the information below and follow the instructions
Taxpayer Information: Taxpayer #1 Name: Keith Dox SIN: 805 127 115 DOB: August 13, 1987 Marital status: Married Address: Page Place, Your City, YP, L3A 2N7 Phone number: (XXX) 369-7851 Email address: xxx Taxpayer #2 Name: Katie Dox SIN: 805 127 123 DOB: March 3, 1988 Three days each week, a large landscaping crew efficiently swarms over The Townhouse Terrace in Your City. The grass is cut, the trees are pruned, the flower beds are weeded, and the sidewalks are swept, leaving the property immaculate. One resident says the numerous capable landscapers remind him of ants.
Keith Dox is one of these "ants." Keith lives with his wife, Katie. Katie is an ambitious young tax attorney who does not particularly like to spend time outdoors, even with Keith. Katie's net income on Line 23600 is $87,321. She has already filed her own return. Keith and Katie sold their original home located at 216 Bayfield Street, Your City, YP, L3A 6T3, for $400,000 on March 31, 2021, before moving into their new home a few blocks away at their current address. They had purchased the house on Bayfield Street together in 2016; they lived exclusively at that address and had not owned any other residential property during the time they owned that home. Neither Keith nor Katie changed employment last year; they moved simply because they liked the new house. Keith has a Tangerine investment account which pays him interest. He never received an information slip but was able to total up the $20.30 interest he received last year from Tangerine. Keith receives income each year on a T3 slip from a trust that was set up by his father. Keith also has a Royal Bank savings account to which he contributes 25% of the funds and Katie contributes the remaining 75%. The $875 shown in Box 17 of the T5 slip issued by Cut You! represents royalties paid to Keith for the use of the pruning shear blade he invented. In 2018, Keith inherited a bank account in the US with a balance of US $120,000 from his uncle. At that time, the exchange rate was 1.2535. He neither contributed nor withdrew any amounts from this account. According to bank statements, the account had a balance of US $124,000 on January 1st and US $125,240 on December 31st. The bank statements also show that the only credits on this account are for monthly interest payments. For 2021 the annual average exchange rate was 1.2535. Keith is not a US Citizen. He does not need to file a US return. Keith has a $75 receipt for investment counsel fees. Though Katie doesn't know it yet, in November Keith bought a piece of land in a nearby rural area where he hopes to build a small cabin. Keith's T4 and other information slips are reproduced below. Last year Keith received a tax refund of $1,000, including $8.50 interest on the refund. He is hoping for a refund again this year. Keith is a Canadian citizen and he wants to answer "Yes" to the Elections Canada question. He has signed up for My Account and would like to register for online mail.