Question 9

Mustafa received the following in 2019:

Gross salary

$100,000

Capital gain upon the sale of stocks

$5,500

Inheritance from his grandmother

$10,000

Dividends received from the Royal Bank of Canada

$2,000

Foreign interest, after 30% US withholding tax

$350

Withdrawal from his TFSA

$15,000

What was Mustafa's total income in 2019 for tax purposes?

a)$108,760

b)$105,965

c)$106,010

d)$132,850