Seneca College ACC405: Sue Brown's 2017 T1 Tax Return Analysis

This document presents a comprehensive solution to an individual income tax return assignment for the year 2017, specifically focusing on Sue Brown's tax situation. The assignment requires the completion of the T1 General Income Tax and Benefit Return, including the identification and other information section, and the detailed filling of entries across multiple pages. It covers the calculation of total income, net income, and taxable income, incorporating various deductions and credits such as tuition fees, scholarship exemptions, and employment income. The solution includes the completion of federal Schedule 1 and provincial Schedule ON428, along with supporting schedules, and demonstrates clear workings and adjustments to arrive at the final refund or balance owing. The assignment also addresses Elections Canada authorization and foreign property considerations, providing a complete overview of the tax return process for a student with specific income and expense details.

Protected B when completed
T1 GENERAL 2017
Income Tax and Benefit Return
Step 1 – Identification and other information ON 8
Identification
Print your name and address below.
First name and initial
Last name
Mailing address: Apt No. – Street No. Street name
PO Box RR
City Prov./Terr. Postal code
Email address
I understand that by providing an email address, I am registering for online mail.
I have read and I accept the terms and conditions on page 17 of the guide.
Enter an email address:
Information about your residence
Enter your province or territory of
residence on December 31, 2017:
Enter the province or territory where
you currently reside if it is not the
same as your mailing address above:
If you were self-employed in 2017,
enter the province or territory of
self-employment:
If you became or ceased to be a resident of Canada for income tax purposes
in 2017, enter the date of:
entry
Month Day
or departure
Month Day
Information about you
Enter your social insurance
number (SIN):
Enter your date of birth:
Year Month Day
Your language of correspondence:
Votre langue de correspondance :
English Français
Is this return for a deceased person?
If this return is for a deceased
person, enter the date of death:
Year Month Day
Marital status
Tick the box that applies to your marital status on
December 31, 2017:
1 Married 2 Living common-law 3 Widowed
4 Divorced 5 Separated 6 Single
Information about your spouse or
common-law partner (if you ticked box 1 or 2 above)
Enter his or her SIN:
Enter his or her first name:
Enter his or her net income for 2017
to claim certain credits:
Enter the amount of universal child care
benefit (UCCB) from line 117
of his or her return:
Enter the amount of UCCB repayment
from line 213 of his or her return:
Tick this box if he or she was self-employed in 2017: 1
Do not use this area
Elections Canada (For more information, see page 19 in the guide.)
A) Do you have Canadian citizenship?. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1Yes 2No
If yes, go to question B. If no, skip question B.
B) As a Canadian citizen, do you authorize the Canada Revenue Agency to give your name,
address, date of birth, and citizenship to Elections Canada to update the National Register of Electors?. . . . . . . 1Yes 2No
Your authorization is valid until you file your next tax return. Your information will only be used for purposes permitted under the Canada
Elections Act, which include sharing the information with provincial/territorial election agencies, members of Parliament, registered
political parties, and candidates at election time.
Do not use
this area 172 171
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SUE
BROWN
123 Main Street
Toronto O N M 1 X 0 X 0
Ontario
1 2 3 4 5 6 7 8 9
1 9 9 7 0 8 0 2
✔
✔
0.00
0.00
0.00
✔
✔

Protected B when completed 2
Step 1 – Identification and other information (continued)
Please answer the following question:
266
Did you own or hold specified foreign property where the total cost amount of all such property,
at any time in 2017, was more than CAN$100,000?
See "Specified foreign property" in the guide for more information. . . . . . . . . . . . . . . . . . . . . . . . . . 1Yes 2No
If yes, complete Form T1135 and attach it to your return.
If you had dealings with a non-resident trust or corporation in 2017, see "Other foreign property" in the guide.
Step 2 – Total income
As a resident of Canada, you have to report your income from all sources both inside and outside Canada.
When you come to a line on the return that applies to you, go to the line number in the guide for more information.
101Employment income (box 14 of all T4 slips)
102Commissions included on line 101 (box 42 of all T4 slips)
103
Wage loss replacement contributions
(see line 101 in the guide)
104Other employment income +
113Old age security pension (box 18 of the T4A(OAS) slip) +
114CPP or QPP benefits (box 20 of the T4A(P) slip) +
152
Disability benefits included on line 114
(box 16 of the T4A(P) slip)
115Other pensions and superannuation +
116Elected split-pension amount (attach Form T1032) +
117Universal child care benefit (UCCB) +
185UCCB amount designated to a dependant
119Employment insurance and other benefits (box 14 of the T4E slip) +
120
Taxable amount of dividends (eligible and other than eligible) from taxable
Canadian corporations (attach Schedule 4) +
180
Taxable amount of dividends other than eligible dividends,
included on line 120, from taxable Canadian corporations
121Interest and other investment income (attach Schedule 4) +
122Net partnership income: limited or non-active partners only +
125Registered disability savings plan income +
Rental income 160Gross 126Net +
127Taxable capital gains (attach Schedule 3) +
Support payments received 156Total 128Taxable amount +
129RRSP income (from all T4RSP slips) +
130Other income Specify: +
Self-employment income
Business income 162Gross 135Net +
Professional income 164Gross 137Net +
Commission income 166Gross 139Net +
Farming income 168Gross 141Net +
Fishing income 170Gross 143Net +
144Workers' compensation benefits (box 10 of the T5007 slip)
145Social assistance payments +
146Net federal supplements (box 21 of the T4A(OAS) slip) +
147Add lines 144, 145, and 146 (see line 250 in the guide). =
◄ +
150This is your total income.Add lines 101, 104 to 143, and 147. =
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12,300.00
12,300.00

Protected B when completed 3
Attach only the documents (schedules, information slips, forms, or receipts) requested in the guide
to support any claim or deduction. Keep all other supporting documents.
Step 3 – Net income
150Enter your total income from line 150.
206
Pension adjustment
(box 52 of all T4 slips and box 034 of all T4A slips)
207Registered pension plan deduction (box 20 of all T4 slips and box 032 of all T4A slips)
208
RRSP and pooled registered pension plan (PRPP) deduction
(see Schedule 7 and attach receipts) +
205
PRPP employer contributions
(amount from your PRPP contribution receipts)
210Deduction for elected split-pension amount (attach Form T1032) +
212Annual union, professional, or like dues (box 44 of all T4 slips, and receipts) +
213Universal child care benefit repayment (box 12 of all RC62 slips) +
214Child care expenses (attach Form T778) +
215Disability supports deduction +
Business investment loss 228Gross 217Allowable deduction +
219Moving expenses +
Support payments made 230Total 220Allowable deduction +
221Carrying charges and interest expenses (attach Schedule 4) +
222
Deduction for CPP or QPP contributions on self-employment and other earnings
(attach Schedule 8 or Form RC381, whichever applies) + •
224Exploration and development expenses (attach Form T1229) +
229Other employment expenses +
231Clergy residence deduction +
232Other deductions Specify: +
233Add lines 207, 208, 210 to 224, 229, 231, and 232. =
◄ –
234This is your net income before adjustments.Line 150 minus line 233 (if negative, enter "0") =
235
Social benefits repayment (if you reported income on line 113, 119, or 146, see line 235 in the guide)
Use the federal worksheet to calculate your repayment. – •
236This is your net income.
Line 234 minus line 235 (if negative, enter "0")
If you have a spouse or common-law partner, see line 236 in the guide. =
Step 4 – Taxable income
244Canadian Forces personnel and police deduction (box 43 of all T4 slips)
248Employee home relocation loan deduction (box 37 of all T4 slips) +
249Security options deductions +
250
Other payments deduction
(if you reported income on line 147, see line 250 in the guide) +
251Limited partnership losses of other years +
252Non-capital losses of other years +
253Net capital losses of other years +
254Capital gains deduction +
255Northern residents deductions (attach Form T2222) +
256Additional deductions Specify: +
257Add lines 244 to 256. =
◄ –
260This is your taxable income.Line 236 minus line 257 (if negative, enter "0") =
Step 5 – Federal tax and provincial or territorial tax
Use Schedule 1 to calculate your federal tax and Form 428 to calculate your provincial or territorial tax.
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12,300.00
12,300.00
12,300.00
12,300.00
12,300.00

Protected B when completed 4Step 6 – Refund or balance owing
420Net federal tax: enter the amount from line 62 of Schedule 1 (attach Schedule 1, even if the result is "0")
421
CPP contributions payable on self-employment and other earnings
(attach Schedule 8 or Form RC381, whichever applies) +
430Employment insurance premiums payable on self-employment and other eligible earnings (attach Schedule 13) +
422Social benefits repayment (amount from line 235) +
428Provincial or territorial tax (attach Form 428, even if the result is "0") +
435This is your total payable.Add lines 420, 421, 430, 422, and 428. = •
437Total income tax deducted •
440Refundable Quebec abatement + •
448CPP overpayment (enter your excess contributions) + •
450Employment insurance overpayment (enter your excess contributions) + •
452Refundable medical expense supplement (use the federal worksheet) + •
453Working income tax benefit (WITB) (attach Schedule 6) + •
454Refund of investment tax credit (attach Form T2038(IND)) + •
456Part XII.2 trust tax credit (box 38 of all T3 slips and box 209 of all T5013 slips) + •
457Employee and partner GST/HST rebate (attach Form GST370) + •
Eligible educator school
supply tax credit 468Supplies expenses × 15% = 469 + •
476Tax paid by instalments + •
479Provincial or territorial credits (attach Form 479 if it applies) + •
482These are your total credits.Add lines 437 to 479. =
◄ –
This is your refund or balance owing.Line 435 minus line 482 =
If the result is negative, you have a refund. If the result is positive, you have a balance owing.
Enter the amount below on whichever line applies.
Generally, we do not charge or refund a difference of $2 or less.
◄
◄
484Refund • 485Balance owing •
For more information on how to make your payment, see line 485 in the guide or go
to canada.ca/payments. Your payment is due no later than April 30, 2018.
◄
Direct deposit – Enrol or update (see line 484 in the guide)
You do not have to complete this area every year. Do not complete it this year if your direct deposit information has not changed.
To enrol for direct deposit, to update your banking information, or to request that all of your CRA payments you may be receiving or owed be deposited
into the same account as your T1 refund, complete lines 460, 461, and 462 below.
By providing my banking information I authorize the Receiver General to deposit in the bank account number shown below any amounts payable to me
by the CRA, until otherwise notified by me. I understand that this authorization will replace all of my previous direct deposit authorizations.
460Branch number
(5 digits)
461Institution number
(3 digits)
462Account number
(maximum 12 digits)
Ontario opportunities fund
You can help reduce Ontario's debt by completing this area to
donate some or all of your 2017 refund to the Ontario
opportunities fund. Please see the provincial pages for details.
1Amount from line 484 above
465 2
Your donation to the
Ontario opportunities fund – •
466 3Net refund (line 1 minus line 2) = •
I certify that the information given on this return and in any documents
attached is correct and complete and fully discloses all my income.
Sign here
It is a serious offence to make a false return.
Telephone Date
490 If a fee was charged for preparing this return,
complete the following:
Name of preparer:
Telephone:
489EFILE number (if applicable):
Personal information is collected under the Income Tax Act to administer tax, benefits, and related programs. It may also be used for any purpose related
to the administration or enforcement of the Act such as audit, compliance and the payment of debts owed to the Crown. It may be shared or verified with
other federal, provincial/territorial government institutions to the extent authorized by law. Failure to provide this information may result in interest payable,
penalties or other actions. Under the Privacy Act, individuals have the right to access their personal information and request correction if there are errors
or omissions. Refer to canada.ca/cra-info-source, Personal Information Bank CRA PPU 005.
Do not use
this area 487 488 • 486 •
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1,744.97
621.15
2,366.12
1,995.00
169.85
2,164.85
371.12
371.12