F G H I 1 3 2 B D E Question 4: Net Federal Tax Payable (21 marks) Part 1 Required Kelsey is 48 years old and her husband, Bob, is 68. Kelsey's only source of income is from rental properties. Her net and taxable income is $250,000. Bob has investment income of $6,200. They have a 26 year old disabled son, Albert, who lives with them. His disability qualifies him for the disability tax credit and he has no income of his own. 3 4 5 Other disbursements during the year were: Prescription medicine for Bob Donation to registered charity $2,655 1,252 6 7 8 Dropdown boxes are provided in column A. Required: For the 2021 taxation year, calculate Kelsey's net federal tax payable (12 marks). 9 10 Taxable income 11 Federal tax on First 12 Federal tax on remaining 13 Gross Tax 14 Tax Credits at 15%: 15 16 17 18 19 Cover sheet - please read Q1 Q4 Q2 Q3 05 + Formula Sheet