M21 B F G H 3 D E 30 Part 2 Required 31 Norris' taxable income of $80,000 is from employment and his employer has withheld the maximum CPP and El amounts. He is a single father and has a daughter, Mila, who is 8 years old and lives with him. Two years ago, Norris graduated from a Canadian university. He currently has a Canada Student Loan outstanding. Norris pays back this loan in monthly instalments of $600. During the year, he paid $800 in 32 interest on this loan Required: For the 2021 taxation year, calculate Norris' net federal tax payable (9 marks). 33 34 Taxable income 35 Federal tax on First 36 Federal tax on remaining 37 Gross Tax 38 Tax Credits at 15%: 39 40 + 41 42 43 44 45 46 47 48 Total 15% 49 Rate