Show:
Chapter Two
Chapter Three
Chapter Four
Ontario Provincial
Bonus
100
-Was a resident of Canada throughout the year -19 years of age or older or -Cohabiting with a spouse or common law partner or the parent of a child with whom they resided
What is the eligibility requirements for the WITB?
100
-Paid to everyone with a child under the age of 6, assuming they meet the Child Tax Benefit requirements -taxable in the hands of the spouse with the lower net income
What is the Universal Child Care Benefit?
100
-phase in will begin in April 2023 with full implementation taking effect in Feb. 2029.
What is the phase in period for the new provisions to the Old Age Security?
100
-A credit for 10% of the fees up to a maximum of $52.60 per child -a refundable credit claimed on line 6309 of the ON479
What is the Ontario Children's Activity Tax Credit?
100
Box 77 of the T4 slip
Where does the amount of WCIB repaid to the employer show?
200
-Board and Lodging -Counselling Services -Tuition Assistance -Security Options Benefits
What are some of the types of benefits that may be included in income, Box 14?
200
-the dependants income does not factor into the calculation -one person must make the claim for all the children
What is the Child Amount?
200
A superannuation or pension plan, registered with CRA, which is used to fund an employee's pension upon retirement.
What is a Registered Retirement Pension Plan?
200
A refundable tax credit designed to encourage unincorporated and incorporated businesses to hire apprentices in certain skilled trades.
What is the Apprenticeship Training Tax Credit?
200
Box 85 of the T4 slip.
Where do employers report the employee paid premiums from a private health service plan?
300
Awarded a retroactive Worker's Compensation reward for an injury for which they had been receiving an advance of salary.
When might a taxpayer be required to repay employment income received?
300
-may be claimed for impaired spouses or common-law spouses as well as children and other dependants. -not restricted to only one claim per family -only one claim per dependant. In the case of children who are eligible for both the child amount & the eligible dependant, it must be added to the child amount.
What is the Family Caregiver Amount?
300
$7,546
What is the disability amount for 2012?
300
A new tax credit for home renovations designed to improve access for a senior or help a senior be more functional or mobile within their home.
What is the Ontario Healthy Homes Renovation Tax Credit?
300
Box 30 of the T4 slip.
Where are taxable board and lodging amounts shown?
400
A taxpayers net income from employment at the new location.
What are moving expenses deductible from?
400
-$500 per chld -additional $500 for a disabled child if they incur at least $100 in eligible costs.
What is the Children's Fitness Amount and the Children's Art Amount?
400
-their net tax owing for the current tax year is more than $3000 ($1800 in Quebec) -their net tax owing for either of the two proceeding years was more than $3000 ($1800 for residents of Quebec)
When does CRA require taxpayers to pay in Installment Payments?
400
They may claim the combined total of the property tax that the landlord/site owner paid for the leased lot plus the property tax that they paid for the home.
What can mobile home owners claim?
400
Box 40 of the T4 slip
Where is the taxable tuition assistance reported?
500
-25% of working income in excess of $3000, to a maximum of $970 less -15% of the adjusted net income in excess of $11,011
What is the basic calculation for the WITB with no eligible spouse or eligible dependant in 2012?
500
-the person with the lower net income except when they are in prison for at least 2 weeks or separated because of a breakdown in the relationship for a period of at least 90 days including Dec. 31st but reconciled within the first 60 days of the following year.
Who claims the Child Care Expense?
500
-any 12 month period ending in the taxation year
What period can medical expenses be claimed for?
500
A refundable tax credit designed to encourage self employed taxpayers (unincorporated businesses) to provide qualifying work placements for post-secondary co-op students.
What is the Co-Operative Education Tax Credit?
500
Box 38 of the T4
Where is the amount of benefit received from the Security Options Benefit reported?