Question
Naya Patel is working on her income taxes for 2022. The May 1 filing date is fast approaching. Naya received the following T4 slip from
Naya Patel is working on her income taxes for 2022. The May 1 filing date is fast approaching.
Naya received the following T4 slip from her employer for her part-time job.
In addition, Naya received the following T5 slip relating to a non-registered investment:
Naya contributed $500 each to her RRSP and TFSA in 2022.
Naya also paid the last 12 monthly instalments on her $10,000 student loan. The loan had a term of 5 years at a rate of 6%, compounded monthly.
Refer to the 2022 CRA Income Tax and Benefit return and calculate Nayas Federal Tax on Taxable Income. Expand the table as required.
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
Concise 6th Edition
324664559, 978-0324664553
