ws_03.6 - 7“ NS428 N—OVA SC, TIA Nova Scotia Tax T1...

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Unformatted text preview: 7“ NS428 N—OVA SC, TIA Nova Scotia Tax T1 General-2005 NOUVELLE'ECOSSE Complete this form and attach a copy of it to your return. For details, see the Provincial Worksheet and pages 1 to 5 in the forms book. Step 1 — Nova Scotia tax on taxable income Enter your taxable income from line 260 of your return 1 Use the amount on line 1 to determine which ONE . . . If line 1 is more than If line 1 is more - - of the followrng columns you have to complete. $29|f5||9nggrllsess $29,590’but not more than $59,180, but not “tug: ($531339 Enter the amount from line 1 in the applicable ' than $59,180 more than $93900 column 2 — 0 00 — 29 590 00 — 59 180 00 — 93,000 00 3 Line 2 minus line 3 (cannot be negative) = = = = 4 x 8.79% x 14.95% x 16.67% x 17.5% 5 Multiply line 4 by line 5 = = = = 6 + 0 00 + 2,601 00 + 7,025 00 + 12,662 00 7 Add lines 6 and 7 Nova Scotia tax Go to Step 2 on taxable income 8 Step 2 — Nova Scotia non-refundable tax credits ssoz Basic personal amount claim $7,231 5804 9 Age amount (if born in 1940 or earlier) (use provincial worksheet) 5808 + 10 Spouse or common-law partner amount Base amount 6,754 0 0 Minus: his or her net income from page 1 of your return _ Result: (if negative, enter "0") = (maximum $6,140) } 5812 + 11 Amount for an eligible dependant (use provincial worksheet) 5816 12 Amount for infirm dependants ae 18 or older (use provincial Worksheet) 5820 13 Canada Pension Plan or Quebec Pension Plan contributions: (amount from line 308 of your federal Schedule 1) 5824 + .14 (amount from line 310 of your federal Schedule 1) 5828 + 015 Employment Insurance premiums (amount from line 312 of yourfederal Schedule 1) 5832 016 Pension income amount (amount from line 314 of yourfederal Schedule 1) 5836 17 Caregiver amount (use provincial worksheet) 5840 18 Disability amount see line 5844 on pae 2 in the forms book 5844 19 Disabilit amount transferred from a deendant (use provincial worksheet) 5848 20 Sport and recreational expenses for children (see line 5849 in the forms book) 5849 21 Interest paid on your student loans (amount from line 319 of your federal Schedule 1) 5852 + 22 Your tuition and education amounts [attach Schedule NS (511)] 5856 + 23 Tuition and education amounts transferred from a child 5860 + 24 Amounts transferred from your spouse or common-law partner [attach Schedule NS(82)] 5864 25 Medical expenses from line 330 of our federal Schedule 1 5868— 26 Enter $1,637 or 3% of line 236, whichever is less — 27 Line 26 minus line 27 (if negative, enter "0") = 28 Allowable amount of medical expenses for other dependants calculated for line 5872 on the Provincial Worksheet 5872 + 29 Add lines 28 and 29 5876— y + 30 Add lines 9 through 25, and line 30 5880— P 31 Non-refundable tax credit rate x 8.79% 32 Multiply line 31 by line 32 5884— 33 Donations and gifts: Amount from line 345 of your federal Schedule 9 Amount from line 347 of your federal Schedule 9 Add lines 34 and 35 X 8.79% = X 17.5% = Add lines 33 and 36 5003.0 Go to Step 3 on the back r1.) Step 3 — Nova Scotia tax Enter your Nova Scotia tax on taxable income from line 8 Enter your Nova Scotia tax on split income, if applicable, from Form T1206 Add lines 38 and 39 Enter your Nova Scotia non-refundable tax credits from line 37 Nova Scotia dividend tax credit: Amount from line 120 of your return Nova Scotia overseas employment tax credit: Amount from line 426 of federal Schedule 1 Nova Scotia minimum tax carry-over: Amount from line 427 of federal Schedule 1 Add lines 41 through 44 Line 40 minus line 45 (if negative, enter "0") Nova Scotia additional tax for minimum tax purposes: Amount from line 117 of Form T691 | Add lines 46 and 47 Nova Scotia surtax: (Amount from line 48 minus $10,000} x 10% gif negative, enter "0") Add lines 48 and 49 Enter the provincial foreign tax credit from Form T2036 Line 50 minus line 51 X 57.5% = Nova Scotia low-income tax reduction If you had a spouse or common-law partner on December 31, 2005, you have to agree on who will claim the tax reduction as only one of you can make this claim for your family. 53 54 Basic reduction claim $300 6195 Reduction for spouse or common-law partner ' Reduction for an eligible dependant claimed at line 5816 Reduction for dependent children born in 1987 or later: Number of dependent children 6099 Add lines 53 through 56 55 56 57 Enter your net income from line 236 of your return Enter your spouse or common-law partner's net income from page 1 of your return Net family income: Add lines 58 and 59 Base amount Line 60 minus line 61 gif negative, enter "0") Applicable rate Multiply line 62 by line 63 Line 57 minus line 64 (if negative, enter "0"). Nova Scotia low-income tax reduction Line 52 minus line 65 (if negative, enter "0"). Enter this amount on line 428 of your return. 5% 64 Nova Scotia tax 5003-0 45 46 47 48 49 50 51 52 65 66 ...
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This note was uploaded on 11/01/2011 for the course PERSONAL F PFP101 taught by Professor J.smith during the Fall '11 term at Lakehead.

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ws_03.6 - 7“ NS428 N—OVA SC, TIA Nova Scotia Tax T1...

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