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please help me with this question as soon as possible .I need to aswer in blue cells .please this is taxation question . G 4
please help me with this question as soon as possible .I need to aswer in blue cells .please this is taxation question .
G 4 Ms. Burke has the following income (loss) and deductions: 3 Employment income 77,987 Income (Loss) from business 11,841 5 Rental income (loss) (90,658) Taxable capital gains 38,826 Allowable capital losses (33,874) Subdivision e deductions 4,324 6 7 8 9 10 Required: Calculate Ms. Burke's Net Income For Tax Purposes (Division Bincome). (4 marks) 11 Enter any deductions or losses as a negative below F H C23 fax A B DE 10 Required: Calculate Ms. Burke's Net Income For Tax Purposes (Division Bincome). (4 marks) 11 Enter any deductions or losses as a negative below. 12 ITA 3(a) 13 Employment income 77,987 14 15 16 Subtotal 3(a) 77,987 10.5 mark 17 ITA 3(b) 18 Taxable capital gains 38,826 19 Allowable capital losses (33,874) 20 Subtotal 3(b) 72,700 0.5 mark 21 Subtotal 3(a) + 3(b) 150,687 0.5 mark 22 ITA 3(0) 23 Subdivision e deductions 4,324 24 25 Subtotal 3(c) 4,324 26 Subtotal 3(a) + 3(b) - 3(c) 224,350 10.5 mark B E F G D 4,324 224,350 0.5 mark A Subtotal 3(c) Subtotal 3(a) + 3(b)-3(c) ITA 3(d) Income (Loss) from business Rental income (loss) Subtotal 3(d) Net Income for tax purposes (11,841) (90,658) (78,817) 0.5 mark (303,167) Non capital loss 0.5 mark Indicate the amount and type of any loss carry overs that would be available at the end of the current year, or state that no carry overs are available. (1 mark) Step by Step Solution
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