Question
Sara has the following information for her Income Tax Return this year: Net Taxable Capital Gains $20,000 CPP Payroll Deduction, (net at 97% already) $1,500
Sara has the following information for her Income Tax Return this year:
| Net Taxable Capital Gains | $20,000 |
| CPP Payroll Deduction, (net at 97% already) | $1,500 |
| Employment Income | $25,000 |
| EI Payroll Deduction | $500 |
| RRSP Deduction | $5,000 |
Please choose the most accurate answer?
| The Non-Refundable Credit, Line 33500 is $15,229 The Total Income, Line 15000 is $40,000 | ||
| The Non-Refundable Credit, Line 35000 is $13,229 The Total Income, Line 15000 is $38,000 | ||
| The Non-Refundable Credit, Line 33500 is $16,474 The Total Income, Line 15000 is $45,000 | ||
| The Non-Refundable Credit, Line 35000 is $15,229 The Total Income, Line 15000 is $45,000 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Intermediate Accounting
Authors: kieso, weygandt and warfield.
14th Edition
9780470587232, 470587288, 470587237, 978-0470587287
