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Determine the various federal tax credits the below Taxpayer is entitled to for 2017: Taxpayer received the following sources of income for 2017: Bank Interest
Determine the various federal tax credits the below Taxpayer is entitled to for 2017: Taxpayer received the following sources of income for 2017: Bank Interest $3,500 Net Employment Income $68,000 RRSP Withdrawals $5,000 (Taxpayer is 42 years old) Total Net Income & Taxable Income $ 76,500 Taxpayer had the following amounts withheld from their employment paycheque: EI $836 CPP $2,564 Income Tax Withheld at Source $11,000 Registered Pension Plan Contributions $3,400 Life Insurance Premiums $400 Total Withholdings from Employment Income $18,200 Taxpayer is divorced and has sole custody of their child (13 years old, in good health, and $1,000 in income). Taxpayer paid $50 a month for bus passes (Jan - Dec, 2017) totaling $600 for the year. Taxpayer contributed $1,000 to a Registered Charity during the year. They have made similar contributions in prior years. Taxpayer contributed $500 to a Registered Federal Political Party in 2017. Taxpayer incurred $2,000 in fees to register their child in hockey. Taxpayer incurred $5,000 in eligible medical expenses during the year. Their son incurred $500 in additional eligible medical expenses.
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