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2007 Tax Return Summary and Benefits

The tax return summary for Lisa S Sixty for the year 2007 shows a total income of $88,750.20, with a net income of $85,500.20 and a total tax payable of $22,675.16, resulting in a refund of $459.44. The document also includes details on various benefits and carry-forward items.

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0% found this document useful (0 votes)
16 views16 pages

2007 Tax Return Summary and Benefits

The tax return summary for Lisa S Sixty for the year 2007 shows a total income of $88,750.20, with a net income of $85,500.20 and a total tax payable of $22,675.16, resulting in a refund of $459.44. The document also includes details on various benefits and carry-forward items.

Uploaded by

sweetsaba2006
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Tax Return Summary for Tax Year 2007

Name : _____________________________________________
LISA S SIXTY
Telephone : (___)_________________
902 2319621

Summary :

Employment Income 83250 . 00


Rental Income -1999 . 80
Self-Employment Income
Total Income 88750 . 20
Net Income 85500 . 20
Taxable Income 85500 . 20
Total Tax Payable 22675 . 16
Tax Already Deducted 22750 . 00
Average Tax Rate 25 . 55 %
Balance Due (or Refund as negative amount) -459 . 44

Benefit Summary and Carry-forward Items

Subject Amount Carry-forward Subject Amount


GST Rebate Unused RRSP
(estimate) Unused Fed. Tuition
CCTB Benefit Unused Prov. Tuition
(estimate) Capital Loss
Unused Moving Exp.

Prepared by: _____________________________________________ Phone: (___)__________

page 1
T1 GENERAL 2007
Income Tax and Benefit Return
Complete all the sections that apply to you in order to benefit from amounts to which you are entitled.

NS 7
Identification Information about you
Attach your personal label here. Correct any wrong information. Enter your social insurance number (SIN) if you
If you are not attaching a label, print your name and address below. are not attaching a label: 8 7 0 0 0 0 7 5 9
First name and initial Year Month Day
LISA S Enter your date of birth: 1 9 5 0 0 2 2 2
Last name Your language of correspondence: English Français
SIXTY Votre langue de correspondance : X
Mailing address: Apt No – Street No Street name Check the box that applies to your marital status on December 31, 2007:
60 BIRCH AVE (see the "Marital status" section in the guide for details)
PO Box RR 1 Married 2 Living common-law 3 Widowed
4 Divorced 5 X Separated 6 Single
City Prov./Terr. Postal code
HALIFAX N S B 3 R 2 K 9 Information about your spouse or
common-law partner (if you checked box 1 or 2 above)
Enter his or her SIN if it is not on the label, or if you
are not attaching a label: 0 0 0 0 0 0 0 0 0
Information about your residence
Enter his or her first name:
Enter your province or territory of Enter his or her net income for 2007 to claim certain credits
residence on December 31, 2007: NOVA SCOTIA (see the guide for details): 0 00
Enter the amount of Universal Child Care Benefit included in his or
her net income above (see the guide for details): 0 00
Enter the province or territory where you currently reside if
it is not the same as that shown
N/A Enter the amount of Universal Child Care Benefit repayment included
above for your mailing address:
on line 213 of his or her return
(see the guide for details):
If you were self-employed in 2007,
enter the province or territory of
self-employment: N/A Check this box if he or she was self-employed in 2007: 1

If you became or ceased to be a resident of Canada in 2007, give the date of: Person deceased in 2007
Month Day Month Day If this return is for a deceased Year Month Day
entry or departure person, enter the date of death:
Do not use this area

Do not
use this area 172 171
5000-R

page 2
2

Elections Canada
A) Are you a Canadian citizen? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes X 1 No 2

Answer the following question only if you are a Canadian citizen.


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 for the National Register of Electors? . . . . . . . . . . . Yes 1 No X 2
Your authorization is valid until you file your next return. This information will be used only for
purposes permitted under the Canada Elections Act.

Goods and services tax/harmonized sales tax (GST/HST) credit application


See the guide for details.
Are you applying for the GST/HST credit? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Yes 1 No X 2

Please answer the following question:


Did you own or hold foreign property at any time in 2007 with a total cost of more than
CAN$100,000? (read the "Foreign income" section in the guide for details) . . . . . . . . . . 266 Yes 1 No X 2
If yes, attach a completed Form T1135.
If you had dealings with a non-resident trust or corporation in 2007, see the "Foreign income" section in the guide.

page 3
3
Ñ Attach your Schedule 1 (federal tax) and Form 428 (provincial or territorial tax)
here. Also attach here any other schedules, information slips, forms, receipts,
and documents that you need to include with your return.

Your guide contains valuable information to help you complete your return.
When you come to a line on the return that applies to you, look up the line number in the guide for more information.

As a Canadian resident, you have to report your income from all sources both inside and outside Canada.

Total income
Employment income (box 14 on all T4 slips) 101 83250 00

Commissions included on line 101 (box 42 on all T4 slips) 102


Other employment income 104 +
Old Age Security pension (box 18 on the T4A(OAS) slip) 113 +
CPP or QPP benefits (box 20 on the T4A(P) slip) 114 +
Disability benefits included on line 114
(box 16 on the T4A(P) slip) 152
Other pensions or superannuation 115 +
Elected split-pension amount (see the guide and attach Form T1032) 116 +
Universal Child Care Benefit (see the guide) 117 +
Employment Insurance and other benefits (box 14 on the T4E slip) 119 +
Taxable amount of dividends (eligible and other than eligible) from taxable
Canadian corporations (see the guide and attach Schedule 4) 120 +
Taxable amount of dividends other than eligible dividends,
included on line 120, from taxable Canadian corporations 180
Interest and other investment income (attach Schedule 4) 121 +

Net partnership income: limited or non-active partners only (attach Schedule 4) 122 +

Rental income Gross 160 274000 00 Net 126 + -1999 80


Taxable capital gains (attach Schedule 3) 127 +

Support payments received Total 156 Taxable amount 128 +


RRSP income (from all T4RSP slips) 129 +
Other income Specify: 130 + 7500 00
Self-employment income (see lines 135 to 143 in the guide)
Business income Gross 162 Net 135 +
Professional income Gross 164 Net 137 +
Commission income Gross 166 Net 139 +
Farming income Gross 168 Net 141 +
Fishing income Gross 170 Net 143 +

Workers' compensation benefits (box 10 on the T5007 slip) 144


Social assistance payments 145 +

Net federal supplements (box 21 on the T4A(OAS) slip) 146 +


Add lines 144, 145, and 146
(see line 250 in the guide). = 0 00 147 + 0 00
Add lines 101, 104 to 143, and 147.
This is your total income. 150 = 88750 20

page 4
Net income 4

Enter your total income from line 150. 150 88750 20


Pension adjustment
(box 52 on all T4 slips and box 34 on all T4A slips) 206

Registered pension plan deduction (box 20 on all T4 slips and box 32 on all T4A slips) 207
RRSP deduction (see Schedule 7 and attach receipts) 208 +
Saskatchewan Pension Plan deduction (maximum $600) 209 +

Deduction for elected split-pension amount (see the guide and attach Form T1032) 210 +

Annual union, professional, or like dues (box 44 on all T4 slips, and receipts) 212 +

Universal Child Care Benefit repayment (box 12 on all RC62 slips) 213 +
Child care expenses (attach Form T778) 214 +
Disability supports deduction 215 +

Business investment loss Gross 228 Allowable deduction 217 +


Moving expenses 219 +

Support payments made Total 230 Allowable deduction 220 +


Carrying charges and interest expenses (attach Schedule 4) 221 +
Deduction for CPP or QPP contributions on self-employment and other earnings
(attach Schedule 8) 222 + z
Exploration and development expenses (attach Form T1229) 224 +
Other employment expenses 229 + 3250 00
Clergy residence deduction 231 +
Other deductions Specify: 232 +
Add lines 207 to 224, 229, 231, and 232. 233 = 3250 00 – 3250 00
Line 150 minus line 233 (if negative, enter "0"). This is your net income before adjustments. 234 = 85500 20
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. 235 – z
Line 234 minus line 235 (if negative, enter "0"). If you have a spouse or common-law partner, see line 236 in the guide.
This is your net income. 236 = 85500 20

Taxable income
Canadian Forces personnel and police deduction (box 43 on all T4 slips) 244
Employee home relocation loan deduction (box 37 on all T4 slips) 248 +
Security options deductions 249 +
Other payments deduction
(if you reported income on line 147, see line 250 in the guide) 250 +
Limited partnership losses of other years 251 +
Non-capital losses of other years 252 +
Net capital losses of other years 253 +
Capital gains deduction 254 +
Northern residents deductions (attach Form T2222) 255 +
Additional deductions Specify: 256 +
Add lines 244 to 256. 257 = 0 00 – 0 00
Line 236 minus line 257 (if negative, enter "0")
This is your taxable income. 260 = 85500 20

Use your taxable income to calculate your federal tax on Schedule 1 and your provincial or
territorial tax on Form 428.

page 5
Refund or Balance owing 5
Net federal tax: enter the amount from line 52 of Schedule 1 (attach Schedule 1, even if the result is "0") 420 13396 75
CPP contributions payable on self-employment and other earnings (attach Schedule 8) 421 +
Social benefits repayment (enter the amount from line 235) 422 +

Provincial or territorial tax (attach Form 428, even if the result is "0") 428 + 9278 41
Add lines 420 to 428.
This is your total payable. 435 = 22675 16 z

Total income tax deducted (see the guide) 437 22750 00 z


Refundable Quebec abatement 440 + z
CPP overpayment (enter your excess contributions) 448 + z
Employment Insurance overpayment (enter your excess contributions) 450 + 384 60 z
Refundable medical expense supplement (use federal worksheet) 452 + z
Working income tax benefit (attach Schedule 6) 453 + z
Refund of investment tax credit (attach Form T2038(IND)) 454 + z
Part XII.2 trust tax credit (box 38 on all T3 slips) 456 + z

Employee and partner GST/HST rebate (attach Form GST370) 457 + z


Tax paid by instalments 476 + z

Provincial or territorial credits (attach Form 479 if it applies) 479 + z


Add lines 437 to 479.
These are your total credits. 482 = 23134 60 – 23134 60

Line 435 minus line 482 = -459 44


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.


Refund 484 459 44 z Balance owing (see line 485 in the guide) 485 z

Amount enclosed 486 z

Direct deposit – Start or change (see line 484 in the guide)


Attach to page 1 a cheque or
You do not have to complete this area every year. Do not complete it this year if your direct deposit
money order payable to the
information has not changed.
Receiver General. Your
Refund and GST/HST credit – To start direct deposit or to change account information only, attach a
payment is due no later than
"void" cheque or complete lines 460, 461, and 462.
April 30, 2008.
Notes: To deposit your CCTB payments (including certain related provincial or territorial payments) into
the same account, also check box 463.
To deposit your UCCB payments into the same account, also check box 491.
Branch Institution
number number Account number CCTB UCCB
460 461 462 463 491
(5 digits) (3 digits) (maximum 12 digits)

I certify that the information given on this return and in any documents 490 Name:
attached is correct, complete, and fully discloses all my income. For Address:
professional
Sign here
tax preparers
It is a serious offence to make a false return. only
Telephone 902 –2319621 – Date Telephone: – –
Do not use z
this area 487 488
Privacy Act Personal Information Bank number CRA/P-PU-005

page 6
T1-2007 Federal Tax REVISED Schedule 1

Complete Step 1 to claim your federal non-refundable tax credits, Step 2 to calculate your federal tax on taxable
income and Step 3 to calculate your net federal tax.

You must attach a copy of this schedule to your return.

Step 1 – Federal non-refundable tax credits (For details, read the related lines in the guide.)
Basic personal amount claim $9,600 300 9600 00 1

Age amount (if you were born in 1942 or earlier) (use federal worksheet) (maximum $5,177) 301 + 2
Spouse or common-law partner amount (if negative, enter "0")
$9,600 minus ( his or her net income from page 1 of your return) = 303 + 3
Amount for an eligible dependant (attach schedule 5) (if negative, enter "0")
$9,600 minus ( 0 00 his or her net income) = 305 + 4
Amount for children born in 1990 or later Number of children 366 x $2,000 = 367 + 5

Amount for infirm dependants age 18 or older (use federal worksheet and attach Schedule 5) 306 + 6
CPP or QPP contributions:
through employment from box 16 and box 17 on all T4 slips (maximum $1,989.90) 308 + 1989 90 7
z
on self-employment and other earnings (attach Schedule 8) 310 + 8
z
Employment Insurance premiums from box 18 and box 55 on all T4 slips (maximum $720.00) 312 + 720 00 z 9
Canada employment amount (maximum $1,000) 363 + 1000 00 10
Public transit amount 364 + 11
Children's fitness amount 365 + 12
Adoption expenses 313 + 13
Pension income amount (use federal worksheet) (maximum $2,000) 314 + 14
Caregiver amount (use federal worksheet and attach Schedule 5) 315 + 15
Disability amount (for self) (claim $6,890 or if you were under age 18, use federal worksheet) 316 + 16

Disability amount transferred from a dependant (use federal worksheet) 318 + 17


Interest paid on your student loans 319 + 18
Tuition, education, and textbook amounts (attach Schedule 11) 323 + 19
Tuition, education, and textbook amounts transferred from a child 324 + 3000 00 20
Amounts transferred from your spouse or common-law partner (attach Schedule 2) 326 + 21
Medical expenses for self, spouse or common-law partner, and your
dependent children born in 1990 or later 330
Minus: $1,926 or 3% of line 236, whichever is less – 1926 00
Subtotal (if negative, enter "0") = 0 00 (A)
Allowable amount of medical expenses for other dependants
(see the calculation at line 331 in the guide and attach Schedule 5) 331 + (B)
Add lines (A) and (B). = 0 00 332 + 0 00 22
Add lines 1 to 22. 335 = 16309 90 23

Multiply the amount on line 23 by 15%. 338 = 2446 48 24


Donations and gifts (attach Schedule 9) 349 + 25

Total federal non-refundable tax credits: add lines 24 and 25. 350 = 2446 48 26

continue on the back D

5000-S1

page 7
Step 2 – Federal tax on taxable income

Enter your taxable income from line 260 of your return. 85500 20 27

If line 27 is more If line 27 is more


Use the amount on line 27 to determine than $37,178 but than $74,357 but
which ONE of the following columns you If line 27 is not more than not more than If line 27 is more
have to complete. $37,178 or less $74,357 $120,887 than $120,887
Enter the amount from line 27. 85500 20 28
Base amount 0 0, 0 0 0 0 0 – 3 7, 1 7 8 0 0 – 7 4, 3 5 7 0 0 – 1 2 0, 8 8 7 0 0 29
Line 28 minus line 29 (cannot be negative) = = = 11143 20 = 30
Rate × 15% × 22% × 26% × 29% 31
Multiply line 30 by line 31. = = = 2897 23 = 32
Tax on base amount 0, 0 0 0 0 0 + 5, 5 7 7 0 0 + 1 3, 7 5 6 0 0 + 2 5, 8 5 4 0 0 33

Add lines 32 and 33. = = = 16653 23 = 34

Step 3 – Net federal tax

Enter the amount from line 34 above. 16653 23 35


Federal tax on split income (from line 5 of Form T1206) 424 + z 36
Add lines 35 and 36. 404 = 16653 23 16653 23 37

Enter the amount from line 26 on the other side. 350 2446 48 38
Federal dividend tax credit (see line 425 in the guide) 425 + z 39
Overseas employment tax credit (attach Form T626) 426 + 40
Minimum tax carryover (attach Form T691) 427 + z 41
Add lines 38 to 41. = 2446 48 – 2446 48 42

Basic federal tax: line 37 minus line 42 (if negative, enter "0") 429 = 14206 75 43

Federal foreign tax credit (attach Form T2209) 405 – 44

Federal tax: line 43 minus line 44 (if negative, enter "0") 406 = 14206 75 45

Total federal political contributions (attach receipts) 409

Federal political contribution tax credit (use federal worksheet) 410 z 46


Investment tax credit (attach Form T2038(IND)) 412 + 810 00 z 47
Labour-sponsored funds tax credit
Net cost 413 Allowable credit 414 + z 48
Add lines 46 to 48. 416 = 810 00 – 810 00 49
Line 45 minus line 49 (if negative, enter "0")
(if you have an amount on line 36 above, see Form T1206) 417 = 13396 75 50
Additional tax on RESP accumulated income payments (attach Form T1172) 418 + 51
Net federal tax: add lines 50 and 51.
Enter this amount on line 420 of your return. 420 = 13396 75 52

5000-S1

page 8
NS428
T1 General – 2007
Nova Scotia Tax and Credits

Complete this form and attach a copy of it to your return. For details, see the forms book.

Step 1 – Nova Scotia non-refundable tax credits

For internal use only 5602


Basic personal amount claim $7,481 5804 7481 00 1
Age amount (if born in 1942 or earlier) (use provincial worksheet) 5808 + 2
Spouse or common-law partner amount
Base amount 6,987 0 0
Minus: his or her net income
from page 1 of your return –
Result: (if negative, enter "0") = 0 00 (maximum $6,352) 5812 + 0 00 3
Amount for an eligible dependant (use provincial worksheet) 5816 + 4
Amount for infirm dependants age 18 or older (use provincial worksheet) 5820 + 5
Amount for young children (see line 5823 in the forms book)
(complete the chart on the last page) Number of months 6372 × $100 = 5823 + 6
Canada Pension Plan or Quebec Pension Plan contributions:
(amount from line 308 of your federal Schedule 1) 5824 + 1989 90 7z
(amount from line 310 of your federal Schedule 1) 5828 + 8z
Employment Insurance premiums (amount from line 312 of your federal Schedule 1) 5832 + 720 00 z 9
Pension income amount (maximum $1,035) (see line 5836 in the forms book) 5836 + 10
Caregiver amount (use provincial worksheet) 5840 + 11
Disability amount (for self) (see line 5844 in the forms book) 5844 + 12
Disability amount transferred from a dependant (use provincial worksheet) 5848 + 0 00 13
Sport and recreational expenses for children (see line 5849 in the forms book) 5849 + 14
Interest paid on your student loans (amount from line 319 of your federal Schedule 1) 5852 + 15
Your tuition and education amounts [attach Schedule NS(S11)] 5856 + 16
Tuition and education amounts transferred from a child 5860 + 3000 00 17
Amounts transferred from your spouse or common-law partner [attach Schedule NS(S2)] 5864 + 18

Medical expenses from line 330 of your federal Schedule 1 5868 0 00 19


Enter $1,637 or 3% of net income
from line 236 of your return, whichever is less – 1637 00 20
Line 19 minus line 20 (if negative, enter "0") = 21
Allowable amount of medical expenses for other dependants
calculated for line 5872 on the Provincial Worksheet 5872 + 22
Add lines 21 and 22 5876 = 0 00 0 00 23
+
Add lines 1 through 18, and line 23 5880 = 13190 90 13190 90 24
Non-refundable tax credit rate × 8.79% 25
Multiply line 24 by line 25 5884 = 1159 48 26

Donations and gifts:


Amount from line 345 of your federal Schedule 9 × 8.79% = 27
Amount from line 347 of your federal Schedule 9 × 17.5% = + 28
Add lines 27 and 28 5896 = 0 00 + 0 00 29
Add lines 26 and 29
Enter this amount on line 42 Nova Scotia non-refundable tax credits 6150 = 1159 48 30

Go to Step 2 on the next page D

5003-C

page 9
Step 2 – Nova Scotia tax on taxable income
Enter your taxable income from line 260 of your return 85500 20 31

Use the amount on line 31 to determine which ONE


If line 31 is more than If line 31 is more
of the following columns you have to complete. If line 31 is If line 31 is more
$29,590,but not more than $59,180, but not
$29,590 or less more than $93,000 than $93,000
Enter the amount from line 31 in the applicable than $59,180
column 85500 20 32
– 0 00 – 29,590 00 – 59,180 00 – 93,000 00 33
Line 32 minus line 33 (cannot be negative) = = = 26320 20 = 34
× 8.79% × 14.95% × 16.67% × 17.5% 35
Multiply line 34 by line 35 = = = 4387 58 = 36
+ 0 00 + 2,601 00 + 7,025 00 + 12,662 00 37
Nova Scotia tax
Add lines 36 and 37 on taxable income = = = 11412 58 = 38
Go to Step 3 Go to Step 3 Go to Step 3 Go to Step 3
Step 3 – Nova Scotia tax
Enter your Nova Scotia tax on taxable income from line 38 above 11412 58 39
Enter your Nova Scotia tax on split income, if applicable, from Form T1206 6151 + z 40
Add lines 39 and 40 = 11412 58 41

Enter your Nova Scotia non-refundable tax credits from line 30 1159 48 42
Nova Scotia dividend tax credit:
Credit calculated for line 6152 on the Provincial Worksheet 6152 + z 43

Nova Scotia overseas employment tax credit:


Amount from line 426 of federal Schedule 1 × 57.5% = 6153 + z 44
Nova Scotia minimum tax carryover:
Amount from line 427 of federal Schedule 1 × 57.5% = 6154 + z 45
Add lines 42 through 45 = 1159 48 – 1159 48 46
Line 41 minus line 46 (if negative, enter "0") = 10253 10 47
Nova Scotia additional tax for minimum tax purposes:
Amount from line 116 of Form T691 × 57.5% = + 48
Add lines 47 and 48 = 10253 10 49
Nova Scotia surtax:
(Amount from line 49 10253 10 minus $10,000) x 10% (if negative, enter "0") + 25 31 50
Add lines 49 and 50 = 10278 41 51
Enter the provincial foreign tax credit from Form T2036 – 52
Line 51 minus line 52 = 10278 41 53

Nova Scotia low-income tax reduction

If you had a spouse or common-law partner on December 31, 2007, you have to agree on who will claim the tax
reduction as only one of you can make this claim for your family.

Adjusted family income for the calculation of the


Nova Scotia low-income tax reduction Column 1 Column 2
You Your spouse or
common-law
partner
Enter the net income amount from line 236 of the return 85500 20 54 54
Universal Child Care Benefit repayment
Enter the amount from line 213 of the return + 55 + 55
Add lines 54 and 55 = 85500 20 56 = 56
Universal Child Care Benefit income
Enter the amount from line 117 of the return – 57 – 57
Line 56 minus line 57 (if negative, enter "0") = 85500 20 58 = 58
Add the amounts from line 58 in column 1 and column 2, if applicable
Enter the amount on line 66 on the next page Adjusted family income 85500 20 59

5003-C
Continue on the next page D
page 10
Step 3 – Nova Scotia tax (continued)

Enter the amount from Line 53 on the previous page 10278 . 41 60

Basic reduction claim $300 6195 300 00 61


Reduction for your spouse or common-law partner claim $300 6197 + 62
Reduction for an eligible dependant claimed on line 5816
(see line 63 in the forms book) claim $300 6199 + 63
Reduction for dependent children born in 1989 or later:
Number of dependent children 6099 × $165 = + 64
Add lines 61 through 64 = 300 00 65
Adjusted family income
Enter the amount from line 59 on
the previous page 85500 20 66
Base amount – 1 5, 0 0 0 0 0 67
Line 66 minus line 67 (if negative, enter "0") = 70500 20 68
Applicable rate × 5% 69

Multiply line 68 by line 69 = 3525 01 – 3525 01 70


Line 65 minus line 70,
(if negative, enter "0") Nova Scotia low-income tax reduction = 0 00 – 0 00 71
Line 60 minus line 71 (if negative enter "0") = 10278 41 72

Political contribution tax credit

Nova Scotia political contributions made in 2007 6210 × 75% = (max $750) – 73
Line 72 minus line 73 (if negative, enter "0") = 10278 41 74

Labour-sponsored venture capital tax credit


Cost of shares from Form NSLSV × 20% = (max $2,000) 6238 – z 75
Line 74 minus line 75 (if negative, enter "0") = 10278 41 76

Post-secondary graduate tax credit


Enter $1,000 if you graduated in 2007 (see lines 77 to 79 in the forms book) 6377 1000 00 77
Unused post-secondary graduate tax credit from your
2006 Notice of Assessment or Notice of Reassessment 78

Enter the amount from line 77 or 78, whichever applies = 1000 00 – 1000 00 79
Line 76 minus line 79 (if negative, enter "0") = 9278 41 80

Equity tax credit


Enter the equity tax credit calculated on Form T1285 – 81
Line 80 minus line 81 (if negative, enter "0")
Enter the result on line 428 of your return Nova Scotia tax = 9278 41 82

Nova Scotia volunteer firefighters tax credit


Volunteer firefighters tax credit (see line 83 in the forms book)
Enter this amount on line 479 of your return claim $250 6228 0 00 83

Details of amount for young children (if you need more space, attach a separate sheet of paper)
Child's name Relationship to you Child's date of birth Number of
Year Month Day eligible months
----------

----------

+
+
Total number of eligible months for all children Enter this amount beside box 6372 on the first page =
5003-C

page 11
EMPLOYEE OVERPAYMENT OF 2007 CANADA PENSION PLAN
CONTRIBUTIONS AND 2007 EMPLOYMENT INSURANCE PREMIUMS
To determine any overpayment of Canada Pension Plan (CPP) or Quebec Pension Plan (QPP) contributions made through employment if you
had no self-employment earnings and you were not a resident of Quebec on December 31, 2007, complete Part 1. If you were a resident of
Quebec on December 31, 2007, and you made CPP or QPP contributions, see your Quebec provincial income tax guide.
Part 1 – Calculating your Canada Pension Plan overpayment
If any of the following situations apply to you, determine the amounts for lines 1, 2, 3, and 5 by using the table below and your
applicable number of months:
z If you turned 18 in 2007, use the number of months in the year after the month you turned 18.
z If you turned 70 in 2007, use the number of months in the year up to and including the month you turned 70.
z If you received, or were entitled to receive a CPP retirement pension, or a CPP or QPP disability pension for part of 2007, use the
number of months in the year you did not or were not entitled to receive the pension.
z If the individual died in 2007, use the number of months in the year up to and including the month the individual died.

Total CPP pensionable earnings (box 26 or, if blank, box 14 of your T4 slips) . . . . . . . . . . . . . (maximum $ 43,700) 43700 00 1
Basic CPP exemption. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (maximum $ 3,500) – 3500 00 2
Earnings subject to contribution (if negative, enter "0") . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (maximum $ 40,200) = 40200 00 3

Total CPP and QPP contributions deducted (from boxes 16 and 17 of your T4 slips) . . . . . . . . . . . . . . . . . . . . . . . . . 1989 90 4
Required contribution: multiply line 3 by 4.95%. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (maximum $1,989.90) – 1989 90 5
Line 4 minus line 5 (if negative, enter "0") . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Canada Pension Plan overpayment = 0 00 6
If the amount from line 6 is positive, enter it on line 448 of your return. If negative, you can choose to make additional CPP
contributions. See "Making additional CPP contributions" on page 36 of the General Income Tax and Benefit Guide.
Enter the amount from line 4 or 5, whichever is less, on line 308 of Schedule 1 and, if it applies, on line 5824 of Form 428.

Monthly proration table for 2007


Applicable Line 1 Line 2 Line 3 Line 5
number of Maximum amount of Maximum amount of Maximum amount of Maximum amount of
months total CPP pensionable earnings basic CPP exemption earnings subject to contribution required contribution

1 $ 3,641.66 $ 291.66 $ 3,350.00 $ 165.83


2 $ 7,283.33 $ 583.33 $ 6,700.00 $ 331.65
3 $ 10,925.00 $ 875.00 $ 10,050.00 $ 497.48
4 $ 14,566.66 $ 1,166.66 $ 13,400.00 $ 663.30
5 $ 18,208.33 $ 1,458.33 $ 16,750.00 $ 829.13
6 $ 21,850.00 $ 1,750.00 $ 20,100.00 $ 994.95
7 $ 25,491.66 $ 2,041.66 $ 23,450.00 $ 1,160.78
8 $ 29,133.33 $ 2,333.33 $ 26,800.00 $ 1,326.60
9 $ 32,775.00 $ 2,625.00 $ 30,150.00 $ 1,492.43
10 $ 36,416.66 $ 2,916.66 $ 33,500.00 $ 1,658.25
11 $ 40,058.33 $ 3,208.33 $ 36,850.00 $ 1,824.08
12 $ 43,700.00 $ 3,500.00 $ 40,200.00 $ 1,989.90
To determine any overpayment of Employment Insurance (EI) premiums, complete Part 2. To be refunded, the amount of the EI overpayment
has to be more than $1. If you were a resident of Quebec on December 31, 2007, see your Quebec provincial income tax guide.
Part 2 – Calculating your Employment Insurance overpayment
Total EI insurable earnings (box 24 or, if blank, box 14 of your T4 slips)
(maximum $40,000. If $2,000 or less, enter "0") 40000 00 1
Total premiums deducted: Residents of other than Quebec (from box 18 and box 55 of all your T4 slips)
Quebec residents (from box 18 of all your T4 slips) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1104 60 2
Line 1 minus $2,000 (if negative, enter "0") . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . – 38000 00 3
Line 2 minus line 3 (if negative, enter "0") . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = 0 00 4

Total premiums deducted: Residents of other than Quebec (from box 18 and box 55 of all your T4 slips)
Quebec residents (from box 18 of all your T4 slips) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1104 60 5
Required premium: Residents of other than Quebec (multiply line 1 by 1.80%) (maximum $720.00)
Quebec residents (multiply line 1 by 1.46%) . . . . . . . . . . . . . . . . . . . . . . .(maximum $584.00) – 720 00 6
Line 5 minus line 6 (if negative, enter "0") . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = 384 60 7

Enter the amount from line 4 or line 7, whichever is greater. . . . . . . . . . Employment Insurance overpayment 384 60 8
Enter the amount from line 8 on line 450 of your return only if it is more than $1.
Enter the amount from line 3, 5, or 6, whichever is least, on line 312 of Schedule 1 and, if it applies, on line 5832 of Form 428.

T2204 (07)
(Français au verso)
Printed in Canada

page 12
STATEMENT OF REAL ESTATE RENTALS
For more information on how to complete this statement, see Guide T4036, Rental Income.
1
Identification
Your name Your social insurance number
LISA S SIXTY 8 7 0 – 0 0 0 – 7 5 9
For the Year Month Day Year Month Day Yes No
period from:
to:
1 2 3 1
Was this the final year of your rental operation? X
2 0 0 7 0 1 0 1 2 0 0 7
Name and address of person or firm preparing this form Partnership filer identification number

Tax shelter identification number

Your percentage of ownership Industry code


Business Number
33 . 33 % 5 3 1 1 1 1
Details of other co-owners and partners
Co-owner or partner's Share of net Percentage
name and address income (loss) $ -2000 00 of ownership 33 . 33 %
Co-owner or partner's Share of net Percentage
name and address income (loss) $ -2000 00 of ownership 33 . 33 %
Co-owner or partner's Share of net Percentage
name and address income (loss) $ of ownership %

Co-owner or partner's Share of net Percentage


name and address income (loss) $ of ownership %

Income
Address of property Number of units Gross rents
274000 00
+
+
Enter the total of your gross rents 8141 274000 00
Other related income (for example, premiums and leases, sharecropping) 8230
Gross rental income – (enter this amount on line 160 of your income tax and benefit return) 8299 274000 00 a

Expenses
Total expense Personal portion
Advertising 8521
Insurance 8690
Interest 8710
Maintenance and repairs 8960 100000 00
Management and administration fees 8871
Motor vehicle expenses (not including capital cost allowance) 9281
Office expenses 8810
Legal, accounting, and other professional fees 8860
Property taxes 9180 60000 00
Salaries, wages, and benefits (including employer's contributions) 9060 60000 00
Travel 9200
Utilities 9220 70000 00 10000 00
Other expenses 9270
Total 290000 00 9949 10000 00
Deductible expenses (total expenses minus personal portion) 280000 00 b
Net income (loss) before adjustments (line a minus line b) 9369 -6000 00
Co-owners – Your share of line 9369 above -6000 00 c
Minus – Other expenses of the co-owner 9945
Subtotal -6000 00
Plus – Recaptured capital cost allowance (co-owners - enter your share of the amount) (see Chapter 3) 9947
Subtotal -6000 00
Minus – Terminal loss (co-owners - enter your share of the amount) (see Chapter 3) 9948
Subtotal -6000 00
Minus – Capital cost allowance (from Area A on the back) 9936
Net income (loss) – If you are a sole proprietor or a co-owner, enter this amount on line 9946. -6000 00 d
Partnerships – Your share of line d above -1999 80
Minus – Other expenses of the partner 9943
Your net income (loss) – Enter this amount on line 126 of your income tax and benefit return. 9946 -1999 80

T776 E (07) (Vous pouvez obtenir ce formulaire en français à [Link] ou au 1-800-959-3376.)

page 15
Area A – Calculation of capital cost allowance claim
1 2 3 4 5* 6 7 8 9 10
Class Undepreciated Cost of additions Proceeds of UCC Adjustment for Base amount for Rate CCA UCC at the end
number capital cost in the year dispositions in the year after additions and current-year additions capital cost % for the year of the year
(UCC) at the (see areas B (see areas D dispositions (1/2 x (col. 3 minus allowance (col. 7 x col. 8 or (col. 5 minus col. 9)
start of the year and C below) and E below) (col. 2 plus col. 3 col. 4)). If negative, (col. 5 minus col. 6) a lesser amount)
minus col. 4) enter "0"

Total CCA claim for the year ** 0 00


* If you have a negative amount in this column, add it to income as a recapture under "Recaptured capital cost allowance" on the front of this form. If there is no property left in the
class and there is a positive amount in the column, deduct the amount from income as a terminal loss under "Terminal loss" on the front of this form. For more information, read
Chapter 3 of Guide T4036, Rental Income.
**Sole proprietors and partnerships – Enter the total claim on line 9936 on the front. Co-owners – Enter only your share of the total claim on line 9936 on the front of this form.

Area B – Details of equipment and other property additions in the year


1 2 3 4 5
Class Property details Total cost Personal Rental portion
number portion (Column 3 minus
(if applicable) Column 4)

Total equipment and other property additions in the year 9925 0 00

Area C – Details of building and leasehold interest additions in the year


1 2 3 4 5
Class Property details Total cost Personal Rental portion
number portion (Column 3 minus
(if applicable) Column 4)

Total building additions in the year 9927 0 00

Area D – Details of equipment and other property dispositions in the year


1 2 3 4 5
Class Property details Proceeds of disposition Personal Rental portion
number (should not be more portion (Column 3 minus
than the capital cost) (if applicable) Column 4)

Note: If you disposed of rental property in the year, see Chapter 3 in


Guide T4036, Rental Income, for information about your 9926 0 00
Total equipment and other property dispositions in the year
proceeds of disposition.

Area E – Details of building and leasehold interest dispositions in the year


1 2 3 4 5
Class Property details Proceeds of disposition Personal Rental portion
number (should not be more portion (Column 3 minus
than the capital cost) (if applicable) Column 4)

Note: If you disposed of rental property in the year, see Chapter 3 in


Guide T4036, Rental Income, for information about your 9928 0 00
proceeds of disposition. Total building dispositions in the year

Area F – Details of land additions and dispositions in the year

Cost of all land additions in the year 9923


Proceeds from all land dispositions in the year 9924

Printed in Canada

page 16
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page 17
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page 18

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