1. Ms. Linda Smith acquires a residential property in July, 2020 at a total cost of $327000. Of this total, $52000 can be allocated to the value of the land. The building goes in class 1 at a 4% CCA rate. It is eligible for the accelerated investment incentive. Rents for the 2020 year total $7800, while rental expenses other than CCA total $4100. This is the only rental property owned by Ms. Smith. Determine the maximum CCA deduction that can be taken for 2020.

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2.During 2020, Ms. Nicole Sullivan receives $7500 in eligible dividends from taxable Canadian corporations. Her income is such that all additional amounts will be taxed at a 29 percent federal rate and a 13 percent provincial rate. Her provincial dividend tax credit for eligible dividends is equal to 27 percent of the gross up. What is the total federal and provincial tax that will be payable on these dividends (after considering the dividend tax credits)?

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3.During 2020, Ms. Rhonda Holland receives $8500 in eligible dividends from taxable Canadian corporations. Her income is such that all additional amounts will be taxed at a 29 percent federal rate and a 11 percent provincial rate. Her provincial dividend tax credit for eligible dividends is equal to 27 percent of the gross up. What is the total federal and provincial dividend tax credit she will be eligible for as a result of these dividends?

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4.During 2020, Ms. Ashley Riley receives $9500 in non eligible dividends from taxable Canadian corporations. Her income is such that all additional amounts will be taxed at a 29 percent federal rate and a 20 percent provincial rate. Her provincial dividend tax credit for non eligible dividends is equal to 25 percent of the gross up. What is the total federal and provincial tax that will be payable on these dividends (after considering the dividend tax credits)?

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5.For 2020, Trey Shoemaker has Net Income for Tax Purposes of $490000 and Taxable income of $225000. During the year, he makes eligible charitable gifts of $200000. Determine Mr. Shoemaker's 2020 charitable donations tax credit.

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