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Attachment 6 - Lecture notes 1-3

Notes of various types done within the A in the class
Course

Hist & Historians (HIST 300)

29 Documents
Students shared 29 documents in this course
Academic year: 2020/2021
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Indiana State University

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G

Ontario Credits

Form ON

2020

Protected B when completed

Complete the calculations that apply to you and attach a copy of this form to your return. For more information about these credits, see the Ontario Information Guide in your income tax package.

Ontario childcare access and relief from expenses (CARE) tax credit

Complete Schedule ON479-A to calculate this amount. 63050 D 1

Ontario seniors' public transit tax credit

Amount paid in the year for eligible seniors' use of Ontario public transit services (maximum $3,000) 63100 x 15% = 2

Ontario political contribution tax credit

Ontario political contributions made in 2020 63110 3 Enter $1,410 if your total contributions are $3,208 or more. If not , use Worksheet ON479. (maximum $1,410) 4

Ontario focused flow-through share tax credit

Enter your total expenses from line 4 of your Form T1221. 63220 x 5% = 5 Add lines 1, 2, 4 and 5. 6 If you are not claiming Ontario tax credits for self-employed individuals, enter the amount from line 6 on line 47900 of your return.

Ontario tax credits for self-employed individuals

Number of eligible apprentices your business or partnership hired under the Ontario apprenticeship training tax credit program 63255 Number of eligible work placements your business or partnership is claiming under the Ontario co-operative education tax credit program 63260 Are you claiming one or more of these tax credits as a member of a partnership? 63265 1 Yes 2 No If yes , enter your nine-digit business number. 63270 Continue on the next page.

Page 1 of 2 5006-TC E (20)

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G

Ontario Credits

Form ON

2020

Protected B when completed

Amount from line 6 of previous page 7 Ontario apprenticeship training tax credit Note: Only eligible expenditures for apprentices who started apprenticeship programs after December 31, 2016, and before November 15, 2017 , can be included in the calculation of this credit. If the total salaries and wages paid in the previous year were:

D $600,000 or more , enter 25% of the total eligible expenditures for all apprentices on line 8

D $400,000 or less , enter 30% of the total eligible expenditures for all apprentices on line 8

D more than $400,000 but less than $600,000 , use Worksheet ON479 to calculate the amount to

enter on line 8. Enter the total amount claimed for all apprentices

in qualifying apprenticeships. (maximum $5,000 per apprentice) 63280 D 8

Ontario co-operative education tax credit If the total salaries and wages paid in the previous year were:

D $600,000 or more , enter 25% of the total eligible expenditures for all students on line 9

D $400,000 or less , enter 30% of the total eligible expenditures for all students on line 9

D more than $400,000 but less than $600,000 enter on line 9. , use Worksheet ON479 to calculate the amount to

Enter the total amount claimed for all qualifying work placemments. (maximum $3,000 per student) 63300 D 9

Add lines 7 to 9. Ontario credits 10

Enter the amount from line 10 on line 47900 of your return. See the privacy notice on your return.

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Protected B when completed

Familyadjusted income calculation for the tax credit Column 1 Column 2

You Supporting person(s) Net income from line 23600 of the return (if ''0'', see note below) 1 Child care expenses deduction from line 21400 of the return 63045 2 Social benefits repayment from line 23500 of the return 3 Add lines 1 to 3 (if negative, enter ''0''). Adjusted Income 63047 4

Add the amounts from line 4 of columns 1 and 2. Familyadjusted Income 5 Enter your child care expenses deduction from line 21400 of your return. 6 If your family adjusted income on line 5 is "0", enter 75%. If not , enter your tax credit rate from the table below. 7 Line 6 multiplied by the percentage on line 7 8 Enter the amount from line 8 on line 1 of your Form ON479. Note: If the net income from line 23600 of the return is negative before following the instruction on line 23600 that says "if negative, enter 0", enter the negative amount in brackets instead of entering "0".

Familyadjusted income Tax credit Familyadjusted income Tax credit Familyadjusted income Tax credit rate rate rate

more than but not more than but not more than but not more than more than more than $0 $20,000 75% $60,000 $63,600 49% $106,800 $110,400 23% $20,000 $22,500 73% $63,600 $67,200 47% $110,400 $114,000 21% $22,500 $25,000 71% $67,200 $70,800 45% $114,000 $117,600 19% $25,000 $27,500 69% $70,800 $74,400 43% $117,600 $121,200 17% $27,500 $30,000 67% $74,400 $78,000 41% $121,200 $124,800 15% $30,000 $32,500 65% $78,000 $81,600 39% $124,800 $128,400 13% $32,500 $35,000 63% $81,600 $85,200 37% $128,400 $132,000 11% $35,000 $37,500 61% $85,200 $88,800 35% $132,000 $135,600 9% $37,500 $40,000 59% $88,800 $92,400 33% $135,600 $139,200 7% $40,000 $45,000 57% $92,400 $96,000 31% $139,200 $142,800 5% $45,000 $50,000 55% $96,000 $99,600 29% $142,800 $146,400 3% $50,000 $55,000 53% $99,600 $103,200 27% $146,400 $150,000 1% $55,000 $60,000 51% $103,200 $106,800 25% $150,000 0%

See the privacy notice on your return.

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75.

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Attachment 6 - Lecture notes 1-3

Course: Hist & Historians (HIST 300)

29 Documents
Students shared 29 documents in this course

University: Indiana State University

Was this document helpful?
G
Name of taxpayer Social Insurance Number Printed
Ontario Credits Form ON479
2020
Protected B when completed
Complete the calculations that apply to you and attach a copy of this form to your return.
For more information about these credits, see the Ontario Information Guide in your income tax package.
Ontario childcare access and relief from expenses (CARE) tax credit
Complete Schedule ON479-A to calculate this amount. 63050 D1
Ontario seniors' public transit tax credit
Amount paid in the year for eligible seniors'
use of Ontario public transit services 63100 (maximum $3,000) x 15% = 2
Ontario political contribution tax credit
Ontario political contributions made in 2020 63110 3
Enter $1,410 if your total contributions are $3,208 or more.
If not, use Worksheet ON479. (maximum $1,410) 4
Ontario focused flow-through share tax credit
Enter your total expenses from line 4 of your Form T1221. 63220 x 5% = 5
Add lines 1, 2, 4 and 5. 6
If you are not claiming Ontario tax credits for self-employed individuals, enter the amount from line 6 on line 47900
of your return.
Ontario tax credits for self-employed individuals
Number of eligible apprentices your business or
partnership hired under the Ontario apprenticeship
training tax credit program 63255
Number of eligible work placements your business or
partnership is claiming under the Ontario co-operative
education tax credit program 63260
Are you claiming one or more of these tax credits as a
member of a partnership? 63265 1Yes 2No
If yes, enter your nine-digit business number. 63270
Continue on the next page.
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5006-TC E (20)
2021/01/18
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