LIUL LUI WWur u ORL Setor Short answers Question 1 Ormar was able to graduate with no student loan debt from the undergraduate degree due to an RESP as well as running his own business. In January 2021. Omar received the final payment from the RESP of $6000 Between January 1 2021 and August 31 2021. Ozmar's net self employed income was $10000. During September - December 2021. Ozmar did not run the business, Ormar was able to contribute $500 to an RRSP for 2021, Recall that Omar's scholarship is $17000 per year and the TAship is $12000 per year less deductions of $579 per month. Oumar's investment in the GIC was 513601.42 at 35% compounded semi-annually and $647.70 is deposited to the restricted savings account each month with 3% interest compounded monthly. With the additional information provided in the Project 1 information sheet available in Module 1 on the Canvas course site, determine Ozmar's Taxable income for 2021 Question 2 For 2021, maximum pensionable earnings for Canada Pension Plan (CPP) are $61,600. The basic exemption is $3.500 and the contribution rate is 5,45%. Maximum Insurable earnings for Employment Insurance (EI) are $56,300 and the contribution rate is 1.58% Calculate what Ormar total contributions to CPP and El are for 2021 Question 3 wil the 2023 purchase of a car increase or decrease Omar's niet cash flow for September 2023? Explain briefly Primus 30 Ett Vit Format Tools Title 17 B 1 1 B V 2 LIUL LUI WWur u ORL Setor Short answers Question 1 Ormar was able to graduate with no student loan debt from the undergraduate degree due to an RESP as well as running his own business. In January 2021. Omar received the final payment from the RESP of $6000 Between January 1 2021 and August 31 2021. Ozmar's net self employed income was $10000. During September - December 2021. Ozmar did not run the business, Ormar was able to contribute $500 to an RRSP for 2021, Recall that Omar's scholarship is $17000 per year and the TAship is $12000 per year less deductions of $579 per month. Oumar's investment in the GIC was 513601.42 at 35% compounded semi-annually and $647.70 is deposited to the restricted savings account each month with 3% interest compounded monthly. With the additional information provided in the Project 1 information sheet available in Module 1 on the Canvas course site, determine Ozmar's Taxable income for 2021 Question 2 For 2021, maximum pensionable earnings for Canada Pension Plan (CPP) are $61,600. The basic exemption is $3.500 and the contribution rate is 5,45%. Maximum Insurable earnings for Employment Insurance (EI) are $56,300 and the contribution rate is 1.58% Calculate what Ormar total contributions to CPP and El are for 2021 Question 3 wil the 2023 purchase of a car increase or decrease Omar's niet cash flow for September 2023? Explain briefly Primus 30 Ett Vit Format Tools Title 17 B 1 1 B V 2
