Case for RFC 122 Fall 2022 Personal Information: Susan is age 69 (retired) Robert is age 63 (disabled)/No Income Data -use 2019 tax rates, tax credit numbers: Employment Income 52000 Eligible Cdn Cash Dividends 3000 Foreign Dividends 1000 Pension Income 9002 Old Age Security 7217 Taxable Capital Gain 2500

Deductions or tax credits: RRSP Contributions 1000 Moving Expenses 1050 Net Capital Losses 1000 Federal political Donations 500 Provincial Political Donations 400 Charitable Donations 500 Employment Insurance 860 withheld from salary Canada Pension Plan 2749 withheld from salary 9 marks for the following calculations: Calculate Federal taxes payable and show all schedule or subsidiary calculations Show Total Income, Deductions, Net Income, deductions from Net Income, Basic Tax calculation (incl tax credits) Some research will be required Hints: You may need to calculate 1. Medical Expense tax credit 2. Dividend tax credit (grossed up amount) 3. Means tested NRTC such as age, transfers from spouse 4. Federal Foreign Tax credit 5. OAS clawback 6. Charitable Donation Can you recommend any other tax planning or income splitting options? 1 mark