Problem 12 Kearn Rogers has come to you for some help in computing her income from her investments. She is trying to plan for the payment of her 2022 taxes and wants an idea as to how much that tax bill will be, She has provided you with the following details regarding her investments for 2022. Banking She has a chequing and savings account that are both joint with her common-law spouse, Rose (funds contributed and used by both). Total service charges are $140; total interest earned is $75. GIC She has a 2.5% three-year semi-annual compound-interest GIC purchased April 1, 2021 for $15,000. Interest accruind on the ciIc has heen as follows: Shares She has owned 2,500 shares of APenner Corporation, a private Canadian Corporation. She purchased the shares through a stock option plan and still holds these shares at the end of 2022 . The shares paid total dividends of $0.25 per share in 2022. The dividends were classified as non-eligible dividends. Keara also owns shares of Oban Chocolate Corporation, a Scottish corporation. During the year she received dividends of $2,340 (translated into Canadian dollars, net of Cdn $260 taxes withheld). Pental Properties At the beginning of 2022 , Keara and Rose held two rental properties. Each contributed to the purchase price equally and there is no longer a mortgage in these two properties. These properties had the following cash flows: to the cost of the land. They and Rose purchased a third rental property for $750,000,$175,000 related getting it ready for the new tenant who last two weeks of June cleaning and painting the property, related to the new rental property are: al hrays ues to report the minimum for tax purposes for 2022 of the above investments. Keara Rogers listed above with a reason or a complete calculation. Problem 12 Kearn Rogers has come to you for some help in computing her income from her investments. She is trying to plan for the payment of her 2022 taxes and wants an idea as to how much that tax bill will be, She has provided you with the following details regarding her investments for 2022. Banking She has a chequing and savings account that are both joint with her common-law spouse, Rose (funds contributed and used by both). Total service charges are $140; total interest earned is $75. GIC She has a 2.5% three-year semi-annual compound-interest GIC purchased April 1, 2021 for $15,000. Interest accruind on the ciIc has heen as follows: Shares She has owned 2,500 shares of APenner Corporation, a private Canadian Corporation. She purchased the shares through a stock option plan and still holds these shares at the end of 2022 . The shares paid total dividends of $0.25 per share in 2022. The dividends were classified as non-eligible dividends. Keara also owns shares of Oban Chocolate Corporation, a Scottish corporation. During the year she received dividends of $2,340 (translated into Canadian dollars, net of Cdn $260 taxes withheld). Pental Properties At the beginning of 2022 , Keara and Rose held two rental properties. Each contributed to the purchase price equally and there is no longer a mortgage in these two properties. These properties had the following cash flows: to the cost of the land. They and Rose purchased a third rental property for $750,000,$175,000 related getting it ready for the new tenant who last two weeks of June cleaning and painting the property, related to the new rental property are: al hrays ues to report the minimum for tax purposes for 2022 of the above investments. Keara Rogers listed above with a reason or a complete calculation
