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Read the below scenario to answer Questions 20 to 27: Mr. Martin Bowles is 63 years old and is employed by, Dominion Brass, a large

Read the below scenario to answer Questions 20 to 27:

Mr. Martin Bowles is 63 years old and is employed by, Dominion Brass, a large public company.

During 2022, his Net Income and Taxable Income was correctly calculated to be $139,500. Already included in this amount is qualifying pension income from a former employer in the amount of $5,000.

His employer withheld the following amounts from his salary during 2022:

EI Premiums 890 CPP Contributions 3,166

Mr. Bowles is married and has two children:

Sally, Martin's spouse, has 2022 income of $3,450.

Marie is 14 years old and has income of $2,300. All of this income resulted from the investment of rewards that she has received for science projects.

Ellen is 19 years old and attends university on a full-time basis for 8 months during 2022. Martin pays her tuition costs of $9,800, as well as the cost of textbooks and supplies which costs $1,500. As Ellen has net income of $14,000, she has agreed to transfer all of her education related tax credits to Martin.

The family's 2022 medical expenses, all paid for by Mr. Bowles, are as follows:

Martin $ 2,500 Sally 1,850 Marie 1,600 Ellen 6,540

Total $12,490

During 2022, Mr. Bowles makes donations to registered charities of $1,400.

Question 20 (1 point)

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What is the amount that can be claimed under the CPP tax credit?

Question 20 options:

a) $3,166
b) $3,039
c) $2,898
d) $2,732
e) None of the above

Question 21 (2 points)

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What is the maximum amount that can be transferred and claimed under the Tuition tax credit?

Question 21 options:

a) $4,229
b) $5,000
c) $9,800
d) $11,300
e) None of the above

Question 22 (3 points)

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What is the Federal Taxes Payable before tax credits is applied?

Question 22 options:

a) $17,820
b) $25,901
c) $27,988
d) $36,270
e) None of the above

Question 23 (1 point)

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What is the amount that can be claimed under the Basic Personal Amount tax credit?

Question 23 options:

a) $14,398
b) $12,421
c) $12,866
d) Nil ($0)
e) None of the above

Question 24 (2 points)

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What is the amount that can be claimed under the Charitable Donations tax credit?

Question 24 options:

a) $210
b) $378
c) $406
d) $426
e) None of the above

Question 25 (5 points)

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What is the amount that can be claimed under Medical Expense tax credit by Mr. Bowles?

Question 25 options:

a) $9,591
b) $10,069
c) $2,500
d) $1,929
e) None of the above

Question 26 (3 points)

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Which of the following tax credit can be claimed by Mr. Bowles?

Question 26 options:

a) Disability Amount
b) Employment Insurance (EI)
c) Canada Employment Amount
d) Eligible Dependant
e) Age Amount
f) Pension Amount

Question 27 (1 point)

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What is the amount that can be claimed under the Spousal Amount tax credit?

Question 27 options:

a) $13,808
b) $12,421
c) $10,948
d) $8,971
e)

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