Question
Margarita Dalvi is a financial analyst employed by a large public company. Her 2020 Net Income For Tax Purposes is $166,189 and her 2020 Taxable
Margarita Dalvi is a financial analyst employed by a large public company. Her 2020 Net Income For Tax Purposes is $166,189 and her 2020 Taxable Income is $156,580.
Ms. Dalvis employer withheld the following amounts from her earnings:
EI Premiums
$856
CPP Contributions
2,732
RPP Contributions
6,400
Federal Income Taxes Deducted
29,000
Contributions Registered Charities
4,000
Professional Association Dues
1,200
Ms. Dalvi is 58 years old and married to Jonathan Dalvi who has been legally blind since an automobile accident that occurred several years ago. Jonathan turned 65 years old on December 25, 2019. He has 2020 income from investments only of $9,000. The couple have three children:
Martha is 15 years old. She has 2020 income from various part time jobs of $11,000.
Mary is 19 years old and has mental health problems that prevent her from working on a full-time basis. However, her disability is not sufficiently severe to qualify for the disability tax credit. She lives with her mother and father and has 2020 income from part time jobs of $4,800.
Mark is 21 years old and attends university on a full-time basis for 10 months of the year. His tuition fees were $8,500 and paid for by Ms. Dalvi. As he has no income of his own, he has agreed to transfer the maximum tuition amount to his mother.
The familys 2020 medical expenses, all of which were paid by Ms. Dalvi, were as follows:
Ms. Dalvi And Her Husband
$8,200
Martha
2,800
Mary
12,500
Mark
3,500
Required:
Calculate the Gross amount of the following Federal non-refundable Tax Credits:
Tuition amount transferred from a child is:
Amounts transferred from spouse or common-law partner:
Age amount is:
Pension income amount is:
Disability amount is:
Medical expenses for self, spouse or common-law partner, and your dependent children born in 2003 or later AND allowable amount of medical expenses for other dependants is:
Total Federal non-refundable Tax Credit for Donations and gifts is:
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