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Tax Question Johnny earned 68,000 through employment income, as well he has contributed 3,500 to RSP throughout the year. Johnny earned Interest on a
Tax Question Johnny earned 68,000 through employment income, as well he has contributed 3,500 to RSP throughout the year. Johnny earned Interest on a savings account of 1,250 throughout the year. The basic personal amount is 11,500. There was Federal tax withheld of 8,500. Johnny also contributed 200 to a registered charity and has paid tuition in the amount of 750 for the year. He paid EI and CPP of 1100 and 2400 respectively. What will be his refund or tax owing? Tax Brackets: 15% up to 45,000 22% up to 89,000 26% up to 136,000 29%
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