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Steven Pinker is a 48 year old bank manager. His wife Carol, 43 years old, works part time at a daycare. They have three children,
Steven Pinker is a 48 year old bank manager. His wife Carol, 43 years old, works part time at a daycare. They have three children, 19 year old Sam, 16 year old Sarah and 14 year old Michael. All three children live with them. Steven's only income during the year was $115,000 from employment, Carol earned $12,000 from the daycare, Sam earned $10,000 from his job at Starbucks and Sarah earned $4,000 working part time at McDonalds. Carol's 72 year old mother, Ethel, also lives with the family. Ethel had income of $18,000 during the year, entirely from CPP and OAS. Ethel had one of her legs amputated due to complications from diabetes during the year. It is the opinion of her doctor that she now qualifies for the disability tax credit. During the year Steven spent $13,000 on installing a wheelchair ramp at the back door and a walk in bathtub in Ethel's bathroom. During the year Steven donated $4,000 to various registered charities. Steven also contributed $1,000 to the Green Party of Canada. Steven paid $10,400 in tuition during the year for Sam to attend University full time. During the year, Steven spent the following amounts on medical costs for each family member: Steven $620 Carol 450 Sam 960 Sarah 1,750 Michael 920 Ethel 2,680 Calculate the maximum federal tax credits available to Steven Pinker. Show all calculations
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