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Why does the tax summary show a clawback amount when the clawback worksheet shows $0. None of the maximums on the Worksheet are exceeded.
Total income
- Net employment earnings 534.30
- Pension income 8,189.16
- Dividends, interest, and investment 9,288.52
- Other income 1,057.85
- Net self-employment income 14,472.62
- Total income: 33,542.45
Deductions
- Union or professional dues and UCCB repayment 2,8541.00
- Carrying charges, support, and other 10,954.87
- Deduction for CPP/QPP/PPIP (self-empl.) 560.48
Net income: 19,173.10
Taxable income: 19,173.10
Federal non-refundable tax credits
- Personal amounts (taxpayer and spouse) 11,809.00
- CPP/QPP and EI 569.60
- Other amounts 534.30
- Allowable medical expenses 5,515.29
- Amounts multiplied by 15%: 2,764.23
- Total federal non-refundable credits: 2,764.23
Refund or balance owing
- Basic federal tax -
- **** CPP, EI, and Social benefits repayment 1,120.95
- Total payable: 1,120.95
- CPP/QPP and EI overpayments 8.87
- Other credits 776.32
- Employee & partner GST/HST rebate 328.34
- Total refundable tax credits: 1,113.53
Federal balance due: 7.42
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Self-employed
The line "CPP, EI, and Social benefits repayment" is actually a summation of several lines on the T1. Namely:
- Line 421 - CPP contributions payable on self-employment and other earnings,
- Line 422 - Social benefits repayment, and
- Line 430 - Employment insurance premiums payable on self-employment and other eligible earnings
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Self-employed
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Self-employed
The word repayment refers only to "social benefits repayment". The figure you're seeing is only your CPP premiums due on self-employment from Schedule 8. It just happens to be lumped in with EI payable and social benefits repayment.
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Self-employed
The word repayment refers only to "social benefits repayment". The figure you're seeing is only your CPP premiums due on self-employment from Schedule 8. It just happens to be lumped in with EI payable and social benefits repayment on the summary line.