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Hugh Backman is a 37 year old employee with Best Corp. His salary was $164,000 in 2021. During the year his employer gave him a

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Hugh Backman is a 37 year old employee with Best Corp. His salary was $164,000 in 2021. During the year his employer gave him a watch as a 10 year anniversary award worth $5,000 and a crystal vase worth $400 as a gift for his wedding in June. Best Corp deducted the required income tax, EI and CPP amounts from his paycheques during the year. Hugh owns a portfolio of tech stocks. He sold 1,000 shares of XYZ Inc., a publicly traded company, during 2021. These shares had an adjusted cost base of $25/share and he was able to sell them for $45/share during the year, Hugh is also required by his employer to work from home, where he has space that he uses exclusively to carry out various employment duties and to meet customers on a regular and continuous basis. His work space in the home represents 10% of the total floor space in his home. His home expenses for the year consisted of insurance of $1,800, utilities of $2,200 and repairs of $3,200. Hugh and his spouse purchased the home in 2021 for $750,000. Neither of them had owned a home previously. Hugh's spouse is infirm and had net income for tax purposes of $3,000 in 2021. Hugh's spouse was a full-time student at George Brown College. Her tuition was $10,000 in 2021. Hugh had a $4,000 allowable capital loss carryover from a number of years ago that he has not been able to use in a prior taxation year. Required: A. Calculate the amount to report on each line in the table below, including Hugh's 2021 Net Income for Tax Purposes and Taxable Income Description Amount Line 3a Line 3b Line 3c Line 3d Net Income for Tax Purposes Division C Deductions Taxable Income B. Calculate the Federal Income Tax Liability for Neil: Description: Amount Federal Income Tax Liability C. Calculate the following Federal Non-Refundable Tax Credits for Neil Description: Amount Basic Personal Credit Spousal Credit Canada Employment Credit Canada Caregiver Credit - Additional Amount First Time Home Buyers' Credit Canada Pension Plan Credit Employment Insurance Credit Transfer of Unused Credits from Spouse or Common Law Partner

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