2007 Tax Return Summary and Benefits
2007 Tax Return Summary and Benefits
Name : _____________________________________________
LISA S SIXTY
Telephone : (___)_________________
902 2319621
Summary :
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
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
Net partnership income: limited or non-active partners only (attach Schedule 4) 122 +
page 4
Net income 4
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 +
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
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.
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
Total federal non-refundable tax credits: add lines 24 and 25. 350 = 2446 48 26
5000-S1
page 7
Step 2 – Federal tax on taxable income
Enter your taxable income from line 260 of your return. 85500 20 27
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 tax: line 43 minus line 44 (if negative, enter "0") 406 = 14206 75 45
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.
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
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
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.
5003-C
Continue on the next page D
page 10
Step 3 – Nova Scotia tax (continued)
Nova Scotia political contributions made in 2007 6210 × 75% = (max $750) – 73
Line 72 minus line 73 (if negative, enter "0") = 10278 41 74
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
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.
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
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
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"
Printed in Canada
page 16
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