1. John purchased in December this year, a RRSP for $4,000. His Last Year's...
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Accounting
1.
John purchased in December this year, a RRSP for $4,000.
His Last Year's Earned Income was $10,000.
His Last Year's Pension Adjustment was $0.
Please choose the most accurate answer?
The maximum RRSP deduction on Line 20800 is $1,800 From this year's RRSP purchase, the Carry forward for future RRSP deductions is $2,200
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The maximum RRSP deduction on Line 20800 is $1,800 From this year's RRSP purchase, the Carry forward for future RRSP deductions is $4,000 | ||
The maximum RRSP deduction on Line 20800 is $4,000 From this year's RRSP purchase, the Carry forward for future RRSP deductions is $2,200 | ||
The maximum RRSP deduction on Line 20800 is $1,800 From this year's RRSP purchase, the Carry forward for future RRSP deductions is $0 |
2.
Jane, this year moves 1,000 kilometers closer to her employment work place.
She has the follwoing moving cost related to her move, as noted above.
Her employment income after her move was $10,000
She wil apply the Simplied Method for Mileage (KM) and Meals claims.
Moving Cost: $2,000
Mileage: Kilometer driven by her personal automobile: 1,000 km.
Days to drive to her new home: 3 days.
Please choose the most accurate answer related to her moving expense deduction this year?
An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,838 | ||
An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,000 | ||
An employee must move a minimum of 50 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,757 | ||
An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. Jane's moving expense deduction this year will be, $2,757 |
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