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Taxable Income and Tax Payable for Individuals Revisited Tax Software Assignment Problems 13. Mr. Musician is required by a court order to pay spousal support

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Taxable Income and Tax Payable for Individuals Revisited Tax Software Assignment Problems 13. Mr. Musician is required by a court order to pay spousal support of $400 per month to his former spouse, Lori Musician. Mr. Musician made spousal support payments of $4,800 in 2022 14. Mr. Musician is requred by a court order to make chld support payments of $350 per month to Doly Nurse for his two children, Megen and Andrew Nurse. A total of $4.200 was paid in 2022 15. Mr. Musician made contnbutions to the federal Liberal Party, a registered Canadian political party, in the amount of $610 during the year. 16. Mr. Musician made a $5,000 contribution to his TFSA during the vear, Thanks to the excellent investing advice of hs gardener, the balance in hS TFSA account has grown to more than $175,000 by the end of the year. 17. M. Musician agrees to provide information With respect to Elections Canada In additon Mi. Musician did not own foreign property in excess of $100.000 Canacian at any tme in the yoar, did not own an interest in a fore gn athliate at any time in the yoar and did not dispose of a principal residence at any tine in ihe yes. 18. An'. Musican's unused HASP deduction rocm at the end of 2021 was inl and there were no Lndeducted BASP contributions. Required: With the obyontive of mnimzing Me Musician's ncomn tax payphlo o' increasing an ncome rax refund, pregare N: Musician's 7022 income tax return usifg the ProFle tax sottware program assuming Natasha does not fle at nceme tax telum. List any assumaticns you have made ard any notes and tax plarning ssues you feel shouki be placed in the like. fgnore any GST. HST irroficaticns. Taxable Income and Tax Payable for Individuals Revisited Tax Software Assignment Problems 13. Mr. Musician is required by a court order to pay spousal support of $400 per month to his former spouse, Lori Musician. Mr. Musician made spousal support payments of $4,800 in 2022 14. Mr. Musician is required by a court order to make child support payments of $350 per month to Dolly Nurse for his two children, Megan and Andrew Nurse. A total of $4,200 was paid in 2022 15. Mr. Musician made contributions to the federal Liberal Party, a registered Canadian political party, in the amount of $610 during the year. 16. Mr. Musician made a $5,000 contribution to his TFSA during the year. Thanks to the excellent investing advice of his gardener, the balance in his TFSA account has grown to more than $175,000 by the end of the year. 17. Mr. Musician agrees to provide information with respect to Elections Canada. In addition Mr. Musician did not own foreign property in excess of $100,000 Canadian at any time in the year, did not own an interest in a foreign affiliate at any time in the year and did not dispose of a principal residence at any time in the year. 18. Mr. Musician's unused RRSP deduction room at the end of 2021 was nil and there were no undeducted RRSP contributions. Required: With the objective of minimizing Mr. Musician's income tax payable or increasing an income tax refund, prepare Mr. Musician's 2022 income tax return using the ProFile tax software program assuming Natasha does not file an income tax return. List any assumptions you have made and any notes and tax planning issues you feel should be placed in the file. Ignore any GST/ HST implications

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