Question
Problem 3: Chapter 3 Instructions: Andrea works for Short Line Limited as an engineer. She has 2022 taxable income of $105,000, which is 100% employment
Problem 3: Chapter 3 Instructions: Andrea works for Short Line Limited as an engineer. She has 2022 taxable income of $105,000, which is 100% employment income. The maximum CPP and EI was withheld from her paycheque during the year, plus $11000 in federal income taxes. Her common law partner, Jamie, has a net income of $3000.
Andrea is also a volunteer firefighter and volunteered for 600 hours for the local fire department in 2022. She also bought a house this year for $440,000. Neither her nor her common law partner had owned and lived in another home in the last 5 years.
The couple have one child who is 8 years old. During 2022, Andrea spent $2100 on medical expenses for their child, plus $2,000 in medical expenses for herself and $500 for Jamie.
Andrea donated $4500 to the Canadian Mental Health Association during the year. She also made political contributions of $1,200 to a registered federal political party in 2022.
Required: Determine Andrea's federal tax payable or refundable for 2022. Answer on the "P3- Response" tab, in the yellow boxes. For any credit she is not eligible for, you may leave the yellow box blank.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started