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ON428 Ontario Tax Form - T1 General 2017 - Desklib

Analyzing the taxation situation of James Beach for the year 2017, including his employment income, rental income, home expenses, and investment income.

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Added on  2023-06-08

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The ON428 Ontario Tax Form is used to calculate the provincial tax for T1 General 2017. This form includes step-by-step instructions, non-refundable tax credits, tax reduction, foreign tax credit, and health premium. The form is divided into seven steps, and each step has its own set of instructions and calculations. The form is for Ontario residents only.

ON428 Ontario Tax Form - T1 General 2017 - Desklib

Analyzing the taxation situation of James Beach for the year 2017, including his employment income, rental income, home expenses, and investment income.

   Added on 2023-06-08

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Protected B when completed
Ontario Tax ON428
T1 General – 2017
Complete this form and attach a copy to your return. For more information, see the related line in the forms book.
Step 1 – Ontario non-refundable tax credits 5605For internal use only
5804 1Basic personal amount claim $10,171
5808 2Age amount (if born in 1952 or earlier) (use the Provincial Worksheet) (maximum $4,966) +
Spouse or common-law partner amount
Base amount
Minus: their net income from page 1 of your return –
5812 3Result: (if negative, enter "0") = (maximum $8,636)
◄ +
Amount for an eligible dependant
Base amount
Minus: their net income from line 236 of their return –
5816 4Result: (if negative, enter "0") = (maximum $8,636)
◄ +
5819 5Ontario caregiver amount (use the Provincial Worksheet) +
CPP or QPP contributions:
5824 • 6(amount from line 308 of your federal Schedule 1) +
5828 • 7(amount from line 310 of your federal Schedule 1) +
Employment insurance premiums:
5832 • 8(amount from line 312 of your federal Schedule 1) +
5829 • 9(amount from line 317 of your federal Schedule 1) +
5833 10Adoption expenses (maximum $12,409) +
5836 11Pension income amount (maximum $1,406) +
5844 12
Disability amount (for self)
(Claim $8,217, or if you were under 18 years of age, use the Provincial Worksheet.) +
5848 13Disability amount transferred from a dependant (use the Provincial Worksheet) +
5852 14Interest paid on your student loans (amount from line 319 of your federal Schedule 1) +
5856 15Your tuition and education amounts (use and attach Schedule ON(S11)) +
5860 16Tuition and education amounts transferred from a child +
5864 17Amounts transferred from your spouse or common-law partner (use and attach Schedule ON(S2)) +
Medical expenses:
5868 18(Read line 5868 in the forms book.)
19Enter $2,302 or 3% of line 236 of your return, whichever is less. –
20Line 18 minus line 19 (if negative, enter "0") =
5872 21
Allowable amount of medical expenses for other dependants
(use the Provincial Worksheet) +
5876 22Add lines 20 and 21. =
◄ +
5880 23Add lines 1 to 17, and line 22. =
24Ontario non-refundable tax credit rate ×
5884 25Multiply line 23 by line 24. =
Donations and gifts:
26Amount from line 16 of your federal Schedule 9 × 5.05% =
27Amount from line 17 of your federal Schedule 9 × 11.16% = +
5896 28Add lines 26 and 27. =
◄ +
6150 29Ontario non-refundable tax credits
Add lines 25 and 28.
Enter this amount on line 41. =
Continue on the next page.
5006-C
ON428 Ontario Tax Form - T1 General 2017 - Desklib_1
Protected B when completed
Step 2 – Ontario tax on taxable income
30
Enter your taxable income from line 260 of your return.
If this amount is more than $20,000, you must complete Step 7 – Ontario health premium.
Complete the appropriate
column depending on the
amount on line 30.
Line 30 is
$42,201 or less
Enter the amount from line 30
Line 31 minus line 32
(cannot be negative)
–
=
Multiply line 33 by line 34.
×
=
+
Ontario tax on
taxable income
Add lines 35 and 36.
=
Line 30 is more than
$42,201 but not
more than $84,404
–
=
×
=
+
=
Line 30 is more than
$84,404 but not
more than $150,000
–
=
×
=
+
=
Line 30 is more than
$150,000 but not
more than $220,000
–
=
×
=
+
=
Line 30 is more
than $220,000
–
=
×
=
+
=
31
32
33
34
35
36
37
Step 3 – Ontario tax
38Enter your Ontario tax on taxable income from line 37.
6151 • 39Enter your Ontario tax on split income from Form T1206. +
40Add lines 38 and 39. =
41Enter your Ontario non-refundable tax credits from line 29. –
42Line 40 minus line 41 (if negative, enter "0") =
43
Ontario minimum tax carryover:
Enter the amount from line 42.
44Enter your Ontario dividend tax credit from line 6152 of the Provincial Worksheet. –
45Line 43 minus line 44 (if negative, enter "0"). =
46Amount from line 427 of your federal Schedule 1 × 33.67% =
6154 • 47Enter the amount from line 45 or 46, whichever is less. –
48Line 42 minus line 47 (if negative, enter "0") =
Ontario surtax
49Enter the amount from line 48.
50Enter the amount from line 39. –
51Line 49 minus line 50 (if negative, enter "0") =
Complete lines 52 to 54 only if the amount on line 51 is more than $4,556.
Otherwise, enter "0" on line 54 and continue completing the form.
52(Line 51 minus $4,556) × 20% (if negative, enter "0") =
53(Line 51 minus $5,831) × 36% (if negative, enter "0") = +
54Add lines 52 and 53. =
◄ +
55Add lines 48 and 54. =
Ontario dividend tax credit
6152 • 56Enter your Ontario dividend tax credit from line 6152 of the Provincial Worksheet. –
57Line 55 minus line 56 (if negative, enter "0") =
Ontario additional tax for minimum tax purposes
58
If you entered an amount other than "0" on line 95 of Form T691, enter your Ontario additional tax for
minimum tax purposes from line 58 of the Provincial Worksheet. +
59Add lines 57 and 58. =
Continue on the next page.
5006-C
ON428 Ontario Tax Form - T1 General 2017 - Desklib_2

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