Brent Wells is single and lives alone. During 2022 he earned employment income of $140,000. His employer
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Brent Wells is single and lives alone. During 2022 he earned employment income of $140,000. His employer withheld EI ($953) and CPP ($3,500) contributions of $4,453 (including CPP enhanced contributions of $461) and income tax. He has a portfolio of investments that generated eligible dividends from Canadian corporations of $10,000. He donated public company shares worth $1,000 to the Canadian Cancer Society. The adjusted cost base (ACB) of the shares donated was $400.
Determine Brent’s federal tax payable for 2022.
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Related Book For
Canadian Income Taxation 2022/2023
ISBN: 9781260881202
25th Edition
Authors: William Buckwold, Joan Kitunen, Matthew Roman
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