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1 . Peer Evaluation ( 5 % ) You will have to fill out a peer - evaluation form individually. The grade is determined based
Peer Evaluation
You will have to fill out a peerevaluation form individually.
The grade is determined based on an average score your group members.
Group Response Writeup
One submission per group only.
Overview
Underline
Ms Henderson comes to you for advice in February Last year, was a year of considerable change and turmoil for her. Her job in Ottawa, with Losing Ltd evaporated on March as a result of a reorganization of the company's business after a merger with a competitor. She found another job in Dundas an improvement but it required her to move there. Her divorce from her former husband became final during Ms Henderson, who was already a single parent of a nineyearold daughter, decided to adopt a fiveyearold child locally on May st of By June after completing her move to her new job, the adoption was finalized. The court costs, legal cost, and administrative costs were $
Other information on receipts and benefits:
Salary earned in $ in Ottawa, $ in Dundas
$
Profit from sale of cosmetics at home parties held in spare time
Interest on saving accounts
Spousal support made pursuant to a court order $ per month for her support and $ per month for the support of her daughter, age
Moving allowance
Dividends received eligible $ and noneligible $
Proceeds from disposal a work of art original cost $
Disbursements and withholdings:
Employment Insurance premium withheld
$
Canada Pension Plan contributions withheld
Union dues
Net rental loss for tax purposes on investment property
Registered retirement savings plan contributions, made on February earned income was $
Registered education savings plan payments $ per month
Tuition fees for months parttime at a local University
Payment on cancellation of lease for Ottawa apartment
Security deposit on apartment in Dundas
Gasoline and direct car expenses incurred in move to Dundas
Trailer rental for move to Dundas
Cost of shipping remainder of household effects
Cost of hotel and meals in Dundas while awaiting delivery and unpacking of household effects one day
Payment to babysitter for care of both children after school and during school holidays
Medical expense paid for family dental care
Donations registered political party $ and registered charities $
A review of Ms Hendersons tax return shows $ net capital losses carried forward to
Required:
Underline
Use tax rules applicable for
A Calculate Ms Hendersons net income for tax purposes and taxable income for the taxation year. Your must show all your calculations and explain any omitted items. Also, provide any further tax implications advice on RRSP
B Regardless of what you calculated in Part A assume that Ms Hendersons net income for tax purposes and taxable income for was actually $ and all other information is the same. Calculate Ms Hendersons federal income tax for
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