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The year 2020 was not an easy year for Samuel who graduated from the University of Toronto in April 2020. He was very sick with COVID-19 which delayed his job search. After many interviews, he finally landed a great job working at Microsoft in Montreal. His moving expenses totalled $1,000 (he saved all the receipts as he knew he could claim this as a deduction on his tax returns). He signed his offer letter with a start date of July 1, 2020, at a gross annual salary of $89,000 plus a lump-sum signing bonus of $5,000. Samuel is paid semi-monthly and received his first pay cheque on July 15, 2020. As an exceptional hard worker, he was also recognized by his manager and team where he received an award bonus of $10,000 on his December 15th pay. After having taken a Personal Finance course, he knew to put both bonuses into registered accounts; he therefore made contributions of $3,000 to his Registered Retirement Savings Plan (RRSP) and $12,000 to a Tax-Free Savings Account (TFSA). He noted that his Canada Revenue Agency (CRA) Notice of Assessment stated he could make RRSP contributions of up to $15,000 (based on his previous part-time work when he was a student). We are currently July 5, 2021, and Samuel is ready to file his 2020 personal income tax returns. He knows that he will be getting a refund and was therefore not worried about filing late or penalties. He could however use the refund due to his medical expenses from COVID and having to stay in a government hotel for quarantine, which totalled $1,500. His parents claimed his teition of $5,000 on their returns. With his move to Montreal in June 2020, he is filing his returns as a resident of Quebec. Calculate his combined 2020 taxes payable. (See Table A; ignore Non-Refundable Tax Credits, Quebec Abatement, and any employer withholdings.) Dna R15 a) Calculate Samuel's Taxable Income (1 mark) b) Calculate Samuel's Combined Federal and Quebec Personal Income Taxes Payable on his Taxable Income (1 mark) 2020 Tax Rates 45.71% TABLE A 2020 Combined Federal and Quebec Personal Income Tax Brackets and Tax Rates 2020 Tax 2020 Taxable income 2020 Taxable income Rates first $44,545 27.53% over $97,069 up to $108,390 over $44,545 up to over $108,390 up to 32.53% $48,535 $150,473 over $48,535 up to over $150,473 up to 37.12% $89,080 $214,368 over $89,080 up to 41.12% over $214,368 $97,069 47.46% 50.15% 53.31% . TABLE B 2020 Federal Basic Personal Amount and Quebec Basic Personal Amount 2020 Federal Basic Personal Amount 2020 Quebec Basic Personal Amount $13,229 $15,532 Tax rate 15% Tax rate 15% YARIS