Phil Cousteau is an accountant. Phil is 47 years old and is married to Claire who is 45 years old. She has Net Income For Tax Purposes in 2020 of $9,000, all of which is interest on investments she inherited from her mother.

Phil and Claire have two children, a 15 year old daughter, Haley, and a 19 year old son, Manny. Both Haley and Manny live at home. Haley earned $800 during 2020 baby-sitting.

Manny inherited investments from his grandmother and received $15,000 in interest income from them during 2020.

Phil works for ModFam Company and was paid a salary of $70,000 in 2020. He also earned a bonus of $5,000 in 2020, with equal payments in 2020 and 2021.

During 2020, the following amounts were deducted from Phil's pay:

Federal Income Tax $8,500

CPP 2,898

EI 856

Registered Pension Plan 1,200

United Way Donations 1,500

The company matched the RPP amounts.

Phil paid $900 for his 2020 professional association dues. Claire made a $500 donation to their church during 2020.

Required: For the 2020 taxation year, calculate Mr. Cousteau's minimum Taxable Income and Federal Tax Payable (Refund). Ignore all transfer amounts, if any.