calculate

Anthony's Taxes payable

Marginal Tax Rate

Average Tax Rate

Dendable Truth Otelleri mark Dave the Montes Date Qu'on www. Un herine co Ganyan tud Sos tion turns to what can be interested and My Carste helemaal (paN T' toe te pare te marre new grow womero , Wenger for the $12.00 beteendeve ter ostand who were in Canada Merwe, 1 erembo when we were so we were when they threwsbo. . She with 11.50 trecetifo from Micropestre 200 7.250 1. afio the flow wenty20 personen in de winter from Concorde 30 de angetrie A200 metader, 2004, peladata and | *#1.hot sense+ ed = $po verspreast,now=v + trt At My Agai set tat an LH thu nhp vin lu in Hoi B au WHI 441 PM LAI 14 HHANH NHI VUI HAI ( 1 ) 8 Hai I l Asia 4 y TNHH1 4 6 H Lan v tue vai 44 43 44 45 Ham | Ti NH v 1 cu ht MA Namatalendaa Marat unea nee erer Anthony was supposed to graduate from Concordia in April 2020 but realized he was missing a course to graduate. He took FINA 200 in the summer and started a full-time job on September 1, 2020, at Microsoft. His gross annual salary as a Software Engineer is $75,000. He never filed a tax return and only recently filed his 2020 personal income tax returns once he realized the importance in filing and how easy it was. He is now looking to prepare a tax estimate for his 2021 personal income tax returns to avoid surprises when filing his actual 2021 tax returns in April 2022. a) Given the information below, calculate Anthony's combined Federal and Quebec taxes payable. See Table A, use 2021 tax rates. Ignore Non-Refundable Tax Credits. (2.5 marks) Anthony estimates the following for 2021: Expects to receive a T4 tax slip from Microsoft reporting his 2021 gross annual salary of $77,250 (received a 3% on January 1, 2021, on his gross annual salary from 2020); Expects to receive a T5 tax slip with interest received in 2021 of $1,500; Sold 50 Microsoft shares on September 1, 2021 that he received a year ago as a signing bonus when he started working. He received the shares when they were valued at $300/share and recently sold them when they hit $380/share (he received a taxable benefit of $15,000 in 2020, which is the cost base of the shares when he started). All amounts are in Canadian dollars; Will be making a Tax-Free Savings Account (TFSA) contribution of $12,000 before the end of the year using some of the proceeds from the sale of his Microsoft shares; and Expects to make the maximum Registered Retirement Savings Plan (RRSP) contribution (calculate the maximum amount he can contribute knowing that his gross salary from September 1, 2020, to December 31, 2020 was $25,000). Microsoft does not have a pension plan. Dendable Truth Otelleri mark Dave the Montes Date Qu'on www. Un herine co Ganyan tud Sos tion turns to what can be interested and My Carste helemaal (paN T' toe te pare te marre new grow womero , Wenger for the $12.00 beteendeve ter ostand who were in Canada Merwe, 1 erembo when we were so we were when they threwsbo. . She with 11.50 trecetifo from Micropestre 200 7.250 1. afio the flow wenty20 personen in de winter from Concorde 30 de angetrie A200 metader, 2004, peladata and | *#1.hot sense+ ed = $po verspreast,now=v + trt At My Agai set tat an LH thu nhp vin lu in Hoi B au WHI 441 PM LAI 14 HHANH NHI VUI HAI ( 1 ) 8 Hai I l Asia 4 y TNHH1 4 6 H Lan v tue vai 44 43 44 45 Ham | Ti NH v 1 cu ht MA Namatalendaa Marat unea nee erer Anthony was supposed to graduate from Concordia in April 2020 but realized he was missing a course to graduate. He took FINA 200 in the summer and started a full-time job on September 1, 2020, at Microsoft. His gross annual salary as a Software Engineer is $75,000. He never filed a tax return and only recently filed his 2020 personal income tax returns once he realized the importance in filing and how easy it was. He is now looking to prepare a tax estimate for his 2021 personal income tax returns to avoid surprises when filing his actual 2021 tax returns in April 2022. a) Given the information below, calculate Anthony's combined Federal and Quebec taxes payable. See Table A, use 2021 tax rates. Ignore Non-Refundable Tax Credits. (2.5 marks) Anthony estimates the following for 2021: Expects to receive a T4 tax slip from Microsoft reporting his 2021 gross annual salary of $77,250 (received a 3% on January 1, 2021, on his gross annual salary from 2020); Expects to receive a T5 tax slip with interest received in 2021 of $1,500; Sold 50 Microsoft shares on September 1, 2021 that he received a year ago as a signing bonus when he started working. He received the shares when they were valued at $300/share and recently sold them when they hit $380/share (he received a taxable benefit of $15,000 in 2020, which is the cost base of the shares when he started). All amounts are in Canadian dollars; Will be making a Tax-Free Savings Account (TFSA) contribution of $12,000 before the end of the year using some of the proceeds from the sale of his Microsoft shares; and Expects to make the maximum Registered Retirement Savings Plan (RRSP) contribution (calculate the maximum amount he can contribute knowing that his gross salary from September 1, 2020, to December 31, 2020 was $25,000). Microsoft does not have a pension plan