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Trust Savings Worksheet (Completed Example)

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Information about Trust Savings Worksheet (Completed Example)
Business & Mgmt

Published on March 8, 2014

Author: theskuj

Source: slideshare.net

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Mr. A Template Support Trust Savings Worksheet Prepared by Name Date Reviewed by Tax review Tax year ending December 31, 2014 Manager review Tax year ending Description Partner review Dec 31, 2014 Dividends (Taxes) Tax rate Net amount Direct to Mr. A 200,000.00 (75,361.00) 124,639.00 37.68% 1 - Miss A 100,000.00 (18,066.00) 81,934.00 18.07% 2 - Mr. A Jr 100,000.00 (16,694.00) 83,306.00 16.69% 3 - Trust beneficiary - - - - 4 - Trust beneficiary - - - - 5 - Trust beneficiary - Trust beneficiary total 200,000.00 2014 tax savings Tax Templates Inc. (34,760.00) - - 165,240.00 17.38% 40,601.00 (20.30%) 1 of 3 2014-03-09 22:49

Mr. A Prepared by Template Support Trust Savings Worksheet Name Date Reviewed by Tax year ending December 31, 2014 Tax review Manager review Tax year ending Partner review Dec 31, 2014 Direct to shareholder Tax province 1 2 Mr. A Miss A Mr. A Jr BC BC BC BC ON BC Other taxable income* 130,000.00 5,000.00 - Other than eligible dividends 200,000.00 100,000.00 36,000.00 18,000.00 18,000.00 Taxable income 366,000.00 123,000.00 118,000.00 *Gross provincial credits claimed n/a n/a - 100,000.00 + Gross-up n/a - n/a - Marginal federal taxes Rate Amount Marginal federal taxes Tax Amount Rate Marginal federal taxes Tax Amount Rate Tax Bracket 1 - - - 38,953.00 15.00% 5,842.95 43,953.00 15.00% 6,592.95 Bracket 2 - - - 43,954.00 22.00% 9,669.88 43,954.00 22.00% 9,669.88 Bracket 3 6,270.00 26.00% 1,630.20 35,093.00 26.00% 9,124.18 30,093.00 26.00% 7,824.18 Bracket 4 229,730.00 29.00% 66,621.70 - - - (Personal amount) - (Dividend credit - eligible) (Dividend credit - other) (236,000.00) - - - (6,138.00) - 11.02% (25,999.88) (118,000.00) 15.00% (920.70) - (11,138.00) - 11.02% (12,999.94) (118,000.00) - - 15.00% (1,670.70) - - 11.02% (12,999.94) (Other marginal credits) - - - - - - - - - (Other marginal credits) - - - - - - - - - Other adjustment Marginal federal taxes 42,252.00 10,716.00 Marginal BC taxes Rate Amount 9,416.00 Marginal BC taxes Tax Amount Rate Marginal ON taxes Tax Amount Rate Tax Bracket 1 - - - 32,606.00 5.06% 1,649.86 40,120.00 5.05% 2,026.06 Bracket 2 - - - 37,607.00 7.70% 2,895.74 40,122.00 9.15% 3,671.16 Bracket 3 - - - 11,141.00 10.50% 1,169.81 37,758.00 11.16% 4,213.79 Bracket 4 - - - 18,504.00 12.29% 2,274.14 - - - Bracket 5 20,000.00 14.70% 2,940.00 18,142.00 14.70% 2,666.87 - - - Bracket 6 216,000.00 16.80% 36,288.00 - - - - (Personal amount) (Dividend credit - eligible) (Dividend credit - other) (236,000.00) - - - - 2.59% (6,119.48) (4,869.00) (118,000.00) 5.06% (246.37) - - 2.59% (3,059.74) (9,670.00) (118,000.00) - 5.05% - (488.34) - 4.50% (Other marginal credits) - - - - - - - - (Other marginal credits) - - - - - - - - Surtaxes - - - - - - 1,018.34 1,396.69 - - - - - - - 750.00 (5,310.00) 2,415.00 Other adjustment Health tax Marginal provincial taxes Tax Templates Inc. 33,109.00 7,350.00 2 of 3 750.00 7,278.00 2014-03-09 22:49

Mr. A Trust Savings Worksheet Tax year ending December 31, 2014 Tax year ending 3 Tax province 4 5 Trust beneficiary Trust beneficiary Trust beneficiary BC BC BC BC BC Other taxable income* Other than eligible dividends - + Gross-up - Taxable income - - - n/a - n/a n/a n/a n/a n/a Marginal federal taxes Amount Rate Marginal federal taxes Tax - - - - *Gross provincial credits claimed - - Amount Rate Marginal federal taxes Tax Amount Rate Tax Bracket 1 - - - - - - - - - Bracket 2 - - - - - - - - - Bracket 3 - - - - - - - - - Bracket 4 - - - - - - - - - (Personal amount) - - - - - - - - - (Dividend credit - eligible) - - - - - - - - - (Dividend credit - other) - - - - - - - - - (Other marginal credits) - - - - - - - - - (Other marginal credits) - - - - - - - - - Other adjustment Marginal federal taxes - - Marginal BC taxes Amount Rate - Marginal BC taxes Tax Amount Rate Marginal BC taxes Tax Amount Rate Tax Bracket 1 - - - - - - - - - Bracket 2 - - - - - - - - - Bracket 3 - - - - - - - - - Bracket 4 - - - - - - - - - Bracket 5 - - - - - - - - - Bracket 6 - - - - - - - - - (Personal amount) - - - - - - - - - (Dividend credit - eligible) - - - - - - - - - (Dividend credit - other) - - - - - - - - - (Other marginal credits) - - - - - - - - - (Other marginal credits) - - - - - - - - Surtaxes - - - - - - - - - - - - - - - - - - - Other adjustment Health tax Marginal provincial taxes Tax Templates Inc. - - 3 of 3 - 2014-03-09 22:49

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