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Finance Assignment | Professional Writing

Author:
June 3rd, 2020

There following are six independent scenarios. Each one involves various taxation assumptions for Peter Mousiken during 2019. His Net Income for Tax Purposes is equal to his Taxable Income in all Scenarios.

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Instructions: In each separate scenario, calculate the minimum 2019 federal Tax Payable?

 

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Scenario (2) – Peter is 58 years old and has net rental income of $120,000. He is divorced and has been awarded custody of his 20 year old disabled son. The son qualifies for the disability tax credit and has Net Income For Tax Purposes of $7,300. He is dependent on his father for support.

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2019-2020 Canadian Income Tax

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