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Question 4: Mr. and Mrs. Smith have three children. They have a 4-year girl and boys that are 8 and 12 . The child care
Question 4: Mr. and Mrs. Smith have three children. They have a 4-year girl and boys that are 8 and 12 . The child care costs for the current year, all properly documented for tax purposes are $8,400, however, included in the $8,400 is one week of camp that the 8 and 12 year old attended. The camp cost $800 (\$400/week per child). Mr. and Mrs. Smith's income are detailed below. Required: 1. What is the childcare expense deduction for Mr. or Mrs. Smith? 2. Assume now that Mr. Smith is in attending post-secondary for 16 weeks during the year. What is the childcare expense deduction for Mr. and Mrs. Smith? Question 5: Ms. Victoria Harold has 2021 earned income for RRSP purposes of $46,400. Her 2021 pension adjustment is $2,300. Her unused RRSP deduction room carried forward from 2021 was $5,200. During 2022 she contributes $18,000. What is the maximum RRSP deduction room and RRSP deduction allowed to Ms. Harold in 2022? Question 6: Mr. Jerry Norm has net employment income of $120,000, interest income of $42,000, net rental income of $13,000 and receives taxable support payments from his former spouse of $6,600 during the current year. What is Jerry's earned income for RRSP purposes in the current year
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