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Practice Problem 6 (20 minutes) Maoru has come to you for help in determining the minimum amount she should pay for her personal tax instalments

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Practice Problem 6 (20 minutes) Maoru has come to you for help in determining the minimum amount she should pay for her personal tax instalments for 2022. As well, she is the sole shareholder of MW Ltd., and she would also like you to calculate the minimum instalments for the corporation. Maoru's actual and estimated personal net tax owing balances are provided below: Year Taxes payable 2022 (estimated) $18,000 2021 (actual) $15,000 2020 (actual) $17,000 Maoru provided the following information regarding MW Ltd., which has a March 31 year end: Year Net tax owing 2022 (estimated) $10,000 2021 (actual) $2,000 2020 (actual) $18,000 Required: a) Provide Maoru with the options for her personal instalments for 2022 and recommend the option that will minimize her payments. b) Calculate the instalment options for MW Ltd. and advise Maoru as to the payment deadlines for the corporate instalments

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