Question
Sprott Company started their business on July 1, this year. Sprott Company had two employees this year: Mary and Robert . The payroll is run
Sprott Company started their business on July 1, this year. Sprott Company had two employees this year: Mary and Robert . The payroll is run semi-monthly.
Robert, estimates that his net income, this year. will be $10,000 for TD-1 purposes.
Assume Mary and Robert work the entire period from July 1 to December 31, this year, or 6 month.
The following payroll data was provided for Mary and Robert:
| Mary (40 yrs. old) | Robert (75 yrs. Old and Disabled) |
Annual Salary | $24,000 | $48,000 |
Claim Codes | Fed. 4 Prov. 5 | To determine |
Spouse |
| 60 years old Estimated Net Income: $50,000 |
| No Children | No Children |
Tuition |
| $2,000, Seneca Part Time 4 months. |
Private Pension Income from Sun Life Assurance. |
| Estimated, $5,000 per year (Pension Income)
|
Registered Pension Plan (RPP) Deduction | $50 per pay | $50 per pay |
Please calculate the Ontario Claim Code for Robert this year, is Claim Code?
9 | ||
7 | ||
8 | ||
5 |
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