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AP 2-3 Individual Income Tax Instalments For the three taxation years ending December 31, 2021, 2022, and 2023, assume that Bronson James had the following
AP 2-3 Individual Income Tax Instalments For the three taxation years ending December 31, 2021, 2022, and 2023, assume that Bronson James had the following actual and estimated amounts of federal and provincial/territorial income tax payable withheld by his employer: In order to illustrate the calculation of required instalments, consider the following three independent cases. In each case, Bronson's combined federal and provincial/territorial income tax payable is provided. Required: For each of the three cases: - Indicate whether instalments are required for the 2023 taxation year. - In those cases where instalments are required, calculate the amount of the instalments that would be required under each of the three alternative methods. - In those cases where instalments are required, indicate which of the three alternative methods would be the best. - In those cases where instalments are required, indicate the dates on which the payments will be due
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