- Study Schedule 1, understanding basic tax credits
- Study Schedule 5, understanding eligible dependant tax credits
- Study Schedule 6, understanding the Working Income Tax Benefit
- Study Form ON-BEN – Ontario Trillium Benefit
- This client is a single mother with a 3 year old daughter. She has T4s, medical expenses and rental payment.
- 1 Children – age 2
- Medical expenses $1502
- Rental Payment $12,000 total for the year.
Documents for Assignment:
Additional Questions to Complete:
- What is a non-refundable tax credit? Provide 5 examples.
- What is a refundable tax credit? Provide 2 examples.
- How much taxes did the client saved by claiming her child as eligible dependant?
- How much did the client get by claiming the working income tax benefit?
- How much did the client get by claiming rent paid in Ontario?