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Pronucu to your Tistructor.) Assignment Problem Two - 1 (Individual Tax Instalments) The following table contains information for Gladys Nite for the three years ending
Pronucu to your Tistructor.) Assignment Problem Two - 1 (Individual Tax Instalments) The following table contains information for Gladys Nite for the three years ending December 31, 2019. The Tax Payable column is her combined federal and provincial Tax Payable. The amounts in the columns titled Case One, Two and Three are the amounts withheld by her employer in three independent cases. aanid Tax Payable Case One Case Two Case Three 2017 $18,880 20,320 21,760 $14,480 19,720 18,640 $19,280 14,880 18,560 $15,280 16,160 19,440 2018 2019 (Estimated) Required: A. For each of the three cases: indicate whether instalments are required for the 2019 taxation year. Show all of the calculations required to make this decision; in those cases where instalments are required, indicate the amount of the instalments that would be required under the approach used in the CRA's instalment reminder: and in those cases where you have calculated the instalments required under the CRA's instalment reminder approach, indicate whether there is a better approach and, if so, calculate the required instalments under that approach. B. Forthose Cases where instalments are required, indicate the dates on which the payments will be due. Assignment Problem Two - 2 (Instalments, Interest And Penalties For Corporations) Pronucu to your Tistructor.) Assignment Problem Two - 1 (Individual Tax Instalments) The following table contains information for Gladys Nite for the three years ending December 31, 2019. The Tax Payable column is her combined federal and provincial Tax Payable. The amounts in the columns titled Case One, Two and Three are the amounts withheld by her employer in three independent cases. aanid Tax Payable Case One Case Two Case Three 2017 $18,880 20,320 21,760 $14,480 19,720 18,640 $19,280 14,880 18,560 $15,280 16,160 19,440 2018 2019 (Estimated) Required: A. For each of the three cases: indicate whether instalments are required for the 2019 taxation year. Show all of the calculations required to make this decision; in those cases where instalments are required, indicate the amount of the instalments that would be required under the approach used in the CRA's instalment reminder: and in those cases where you have calculated the instalments required under the CRA's instalment reminder approach, indicate whether there is a better approach and, if so, calculate the required instalments under that approach. B. Forthose Cases where instalments are required, indicate the dates on which the payments will be due. Assignment Problem Two - 2 (Instalments, Interest And Penalties For Corporations)
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