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Use the following information to fill out Mitchell's 2016 income tax forms - Federal and Ontario: Employment Income 26,500 Interest Income (T5) 40 RRSP deduction
Use the following information to fill out Mitchell's 2016 income tax forms - Federal and Ontario:
Employment Income | 26,500 |
Interest Income (T5) | 40 |
RRSP deduction | 950 |
Professional dues (T4) | 165 |
CPP contributions (T4) | 1,138 |
Employment insurance premiums (T4) | 498 |
Charitable donations | 75 |
Tuition | 3,733 |
Public Transit | 225 |
Education amount and textbooks (4 months full-time, Column C) | Use schedule 11 to calculate this. Assume he has no unused tuition. |
Interest payment on student loans | 245 |
Income tax deducted at source (T4) | 2,085 |
- To find general instructions on how to fill out the tax forms, you can check the section on Income Tax Forms in Unit 02.
- Make sure you include line 363 on schedule 1.
- You must calculate the tuition and education tax credits for both the federal and provincial forms. They are different numbers.
- He has claimed charitable donations before.
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