Mr. Martin Bowles is 63 years old and is employed by, Dominion Brass, a large public company.

During 2022, his Net Income and Taxable Income was correctly calculated to be $139,500. Already included in this amount is qualifying pension income from a former employer in the amount of $5,000.

His employer withheld the following amounts from his salary during 2022:

EI Premiums 890

CPP Contributions 3,166

Mr. Bowles is married and has two children:

Sally, Martin's spouse, has 2022 income of $3,450.

Marie is 14 years old and has income of $2,300. All of this income resulted from the investment of rewards that she has received for science projects.

Ellen is 19 years old and attends university on a full-time basis for 8 months during 2022. Martin pays her tuition costs of $9,800, as well as the cost of textbooks and supplies which costs $1,500. As Ellen has net income of $14,000, she has agreed to transfer all of her education related tax credits to Martin.

The family's 2022 medical expenses, all paid for by Mr. Bowles, are as follows:

Martin $ 2,500

Sally 1,850

Marie 1,600

Ellen 6,540

Total $12,490

During 2022, Mr. Bowles makes donations to registered charities of $1,400.

Question 20

What is the amount that can be claimed under the Charitable Donations tax credit?

a) $210

b) $378

c) $406

d) $426

e) None of the above

Question 21

Which of the following tax credit can be claimed by Mr. Bowles?

a) Age Amount

b) Canada Employment Amount

c) Eligible Dependant

d) Pension Amount

e) Disability Amount

f) Employment Insurance (EI)

Question 22

What is the amount that can be claimed under the CPP tax credit?

a) $3,166

b) $3,039

c) $2,898

d) $2,732

e) None of the above

Question 23

What is the Federal Taxes Payable before tax credits is applied?

a) $17,820

b) $25,901

c) $27,988

d) $36,270

e) None of the above

Question 24

What is the amount that can be claimed under the Basic Personal Amount tax credit?

a) $14,398

b) $12,421

c) $12,866

d) Nil ($0)

e) None of the above

Question 25

What is the maximum amount that can be transferred and claimed under the Tuition tax credit?

a) $4,229

b) $5,000

c) $9,800

d) $11,300

e) None of the above

Question 26

What is the amount that can be claimed under Medical Expense tax credit by Mr. Bowles?

a) $9,591

b) $10,069

c) $2,500

d) $1,929

e) None of the above

Question 27

What is the amount that can be claimed under the Spousal Amount tax credit?

a) $13,808

b) $12,421

c) $10,948

d) $8,971

e) None of the above