Anthony ceased to be a resident of Canada on April 30 of the year and moved to New Zealand on that date. During the first
Anthony ceased to be a resident of Canada on April 30 of the year and moved to New Zealand on that date. During the first four months of the year, he earned $25,000 of employment income in Canada and $1,000 of interest income from his bank accounts in Canada. While living in New Zealand during the remainder of the year, he earned $30,000 (Cdn. $) of employment income in New Zealand and received $2,000 of interest income from his Canadian bank accounts.
What amount of taxable income must anthony report on his Canadian personal income tax return for the year?
A. $58,000
B. $56,000
C. $26,000
D. Nil
Step by Step Solution
There are 3 Steps involved in it
Step: 1
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started