Which of the following best summarizes the correct process?

A.

Calculate total income; subtract deductions; calculate taxable income; apply tax credits; determine refund or balance owing.

B.

Calculate total income; deduct RRSP contribution; apply tax credits and deductions; determine refund or balance owing.

C.

Add all deductions and subtract the credits from total income; determine refund or balance owing.

D.

Calculate total income; subtract tax credits and deductions; determine refund or balance owing