1. D, an individual, received $100,000 of eligible dividends from Canadian corporations in the current year. What amount is included in D'snet incomefor tax purposes for the current year?
2. C, an individual, purchased a $80,000 bond on its issue date, September 1, 2020. The bond pays interest at maturity, August 31, 2022, at a rate of 5% compounded annually. What amount of interest must be included in income in 2021?
3. In the current year D withdrew $15,000 from his spousal RRSP and $10,000 from his TFSA. His spouse had contributed $3,000 to the plan in each of the last six years but not in the current year. What amount is included in D's income for tax purposes in the current year?
4. F, an individual, received $1,700 in dividend income from a foreign corporation. $300 in foreign tax was withheld by the foreign corporation on the $2,000 dividend. All amounts have been converted to Canadian currency. What amount is included in F'snet incomefor tax purposes for the current year?
5. F earned $120,000 of employment income in the current year. His employer with held CPP and EI premiums of $3,754 as well as income tax.F's marital status issingle. What is F's federal tax payable for the current year?[Ignore the deduction for enhanced CPP contributions]