Income and Income Tax Review Canada | Baamboozle - Baamboozle

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MEL 4E tax return

Study Slideshow

Fred donated $500 to the Green Party of Canada. He gets 75% tax credit. How much is Fred's credit?

$375

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What number do you need to get a job in Canada?

S.I.N.

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Sam is paid $58/hr. OT is paid at time and a half. What is their overtime rate?

$87

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When do you get a T4?

FEB after the year you worked

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What is the federal B.P.A. in 2024?

credit of $15 705.

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What is the Ontario provincial B.P.A. in 2024?

Tax credit of $12 399

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Who completes a TD1?

YOU, when hyou start a job. You give to your employer

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What is the "Climate Action Incentive"

REBATE for Canadians to help reduce the pain of Carbon Taxing.

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Should you declare TIPS from your server job as income?

YES. Tips are income.

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Bruno Mars earns $25/hr. and works 40 hrs per week. What is his gross pay?

$1000

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Tom gross pay is $2000 . His net pay is $1650. How much are his deductions?

$350

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Alice's gross pay is $900 and her deductions are $175. What is her net pay?

$725

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Eli's earns $28/hr. gets paid OT at time and a half. He worked 6 hours OT last week. How much extra did he make in OT.

$252

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By law in Ontario when must an employer start paying OT rate of time and a half?

After 44hrs.

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True or False... Most employers in Ontario pay overtime after 40hrs.

TRUE

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Is it a good idea to complete your own taxes?

NO get help from a free CRA clinic or pay a professional.

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