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Wages $47,590 Interest on GIC $125 Interest on Savings account $65 RRSP deduction $2,000 Child care deduction $6,300 Federal tax deducted at source $4,863 Non-refundable
Wages $47,590 Interest on GIC $125 Interest on Savings account $65 RRSP deduction $2,000 Child care deduction $6,300 Federal tax deducted at source $4,863 Non-refundable tax credit: Basic Personal Amount of $10.382 Note: Interest eamed on the Guaranteed investment Certificate (GIC) and Interest earned on the Savings Account are regarded as taxable incorne. Required: Based on the foregoing, calculate her federal income tax, and determine if she gets a refund or pays more taxes to the government. Show your computations according to the steps provided in our class lecture (see below). Typewritten (12 Times New Roman), Cover page (complete names of group members. Submit through the dropbox in the BlackBoard
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