?Question $3$

Required: Determine the maximum amount of $2022$ ?personal tax credits, including transfers from a spouse or dependant, that can be applied against federal Tax Payable by the taxpayer in each of the following independent Cases. A calculation of Tax Payable is NOT required.

$1.$ ?Mr$.$ ?Holm has Net Income for Tax Purposes of $$55,000,$ ?all of which is investment income. He is single and provides support for his mother. His mother is a widow who resides in Latvia and has income of $$1,100$ ?per year.

$2.$ ?Mrs$.$ ?Thomas has Net Income for Tax Purposes of $$250,000,$ ?all of which is employment income. Her employer has withheld and remitted the required EI and CPP amounts. Mrs$.$ ?Thomas was married on December $1,2022.$ ? Her wife, a nursing student, had salary of $$21,000$ ?for the period from January $1$ ?to November $30,2022$ ?and $$3,200$ ?for the month of December $2022.$

$3.$ ?Mr$.$ ?Jackson has Net Income for Tax Purposes of $$75,000,$ ?all of which is rental income. He lives with his common$-$law wife and their $2$ ?children. The children are $7$ ?and $8$ ?years of age and have no income for the year. His wife has Net Income for Tax Purposes of $$8,500.$

$4.$ ?Mrs$.$ ?James is married and has Net Income for Tax Purposes of $$110,000,$ ?none of which is employment income or income from self$-$employment. Her $19-$year$-$old dependent daughter attends university. Her husband has Net Income for Tax Purposes of $$10,500,$ ?and her daughter has Net Income for Tax Purposes of $$8,500.$ ? Her daughter does not wish to transfer her tuition, education or textbook credits.

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$5.$ ?Mr$.$ ?Morant is $68$ ?years old and has Net Income for Tax Purposes of $$29,500,$ ?which is comprised of Old Age Security benefits and pension income paid out of his Registered Retirement Income Fund. He is single and he has a son who is $13$ ?years old and is deaf. He has no income of his own.

$6.$ ? Ms$.$ ?Young is divorced and maintains a residence far from her former spouse. She has custody of the $2$ ?children from the marriage. They are aged $9$ ?and $12$ ?and in good health. They both earn $$750$ ?from paper routes. Her Net Income for Tax Purposes is $$72,000,$ ?all of which is spousal support payments.