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Lesley Burt has come into your office to meet with you regarding her finalized 2 0 2 3 tax return. In the meeting, she has

Lesley Burt has come into your office to meet with you regarding her finalized 2023 tax return. In the meeting, she has asked you about her 2023 tax instalment payment options. She has provided the following information: Year Taxes payable (tax liability less tax withheld) Tax withheld at source by employer 2022 $30,000(actual) $29,0002023 $27,000(actual) $24,0002024 $34,000(estimate) $26,000 Required: (a) Briefly explain whether Ms. Burt is required to make income tax instalments in respect of 2024.(b) Calculate the options for the instalment payments in 2024 and indicate when they are due (i.e. calculate under all 3 options).(c) Which of these options will be reflected in the Canada Revenue Agencys Instalment Reminder Notices for the 2024 instalments? (d) What are the consequences of not paying the final instalment until Lesley files her tax return on April 30,2025? Assume that the Q12025 prescribed rate is the same as the Q4 rate for 2024(see tax appendix).

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