1.

Jean Marchand is a single parent with a child. Which of the following conditions is NOT required for Jean to claim the credit for an eligible dependant?

		The child must be a resident of Canada.
		The child must be under 18 years of age, or mentally or physically infirm.
		Jean must live with the child.
		The child must be wholly dependent for support on Jean.

2.

Ottawa Corporation has gross business revenues for the year ended October 31, 2019 of $165,500. In addition, the corporation incurred the following expenses during the year: Meals and entertainment expenses: $ 38,000 Amortization and depreciation: $ 69,000 Landscaping costs: $ 32,000 Charitable donations: $ 2,500 You have correctly determined CCA to be $61,000. The corporation also received dividends (income) from other taxable Canadian corporations of $52,000 during the year (this amount is not included in the business revenues noted above). What are the correct amounts for first, Net Income for Tax Purposes, and second, Taxable Income?

		Net Income for Tax Purposes: $103,000; Taxable Income: $51,000.
		Net Income for Tax Purposes: $73,500; Taxable Income: $19,000.
		Net Income for Tax Purposes: $21,500; Taxable Income: $19,000.
		Net Income for Tax Purposes: $105,500; Taxable Income: $51,000.

3.

Hilary is divorced with net income for tax purposes of $65,000. Her 19 year old dependent daughter, Ann, had net income for tax purposes of $5,000. During the current year Hilary paid a total of $2,250 in eligible medical expenses for herself and $950 in medical expenses for Ann. Hilarys medical expenses tax credit for the current year is:

		$165
		$0
		$188
		$45
		$120

4.

Sarah Smith would like to claim the eligible dependant credit. Which of the following statements is INCORRECT in regards to this credit?

		A divorced single parent, with a child (or children) under 18 qualifies for this credit
		The maximum amount of the Eligible Dependant Credit is reduced by the Net Income earned in the year by the eligible dependant.
		A married parent, living with her spouse, with children under 18, qualifies for this credit
		If a single parent has two children under 18, she can elect to claim either one of the children as an eligible dependant each year

5.

Even though she is a student who only works part-time, Kimberly likes to make charitable donations to several organizations each year. During the current year, she made donations to the following organizations: - Cancer Society (charity): $1,000 - United Way (charity): $550 - Stollery Childrens Hospital (charity): $600 - Ronald McDonald House (charity): $1,750 - Federal Green Party (political party): $550 Kimberlys net income in the current year was $5,000. Which of the following is the correct charitable donation credit for Kimberly in the current taxation year?

		$1,073
		$1,060
		$1,030
		$1,291
		$1,103

6.Renee Zhang has taxable income of $322,194 for the 2020 taxation year. Calculate the federal taxes payable for Renee assuming that she only receives the basic personal tax credit.