Objective:
- Learn how pension income split works for senior couple – Form T1032
- Claim disability tax credits form them
Instructions:
- This family have pensions, CPP, OAS, property taxes, medical and both are qualified for the disability tax credit
- Medical expenses $1000 each
- Property tax of $4500
Documents for Assignment:
Husband
Husband – T4A
Husband – T4A(P)
Husband – T4A(OAS)
Wife
Wife- T4A
Wife – T4A(P)
Wife – T5
Additional Questions to Complete
- How much in taxes does the disability tax credit save?
- How do you apply for the disability tax credit
- In what situation is pension income splitting the most effective?
- What is the Senior homeowner property grant?
- How are medical expense credits calculated?
