Determine the maximum amount of 2018 personal tax credits, including transfers from a spouse or...

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Accounting

Determine the maximum amount of 2018 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal Tax Payable by the taxpayer in each of the following independent Cases. A calculation of Tax Payable is NOT required.

5. Mr. Morant is 68 years old and has Net Income for Tax Purposes of $29,500, which is comprised of Old Age Security benefits and pension income paid out of his Registered Retirement Income Fund. He is single and he has a son who is 13 years old and is deaf. He has no income of his own.

6. Ms. Young is divorced and maintains a residence far from her former spouse. She has custody of the 2 children from the marriage. They are aged 9 and 12 and in good health. They both earn $750 from paper routes. Her Net Income for Tax Purposes is $72,000, all of which is spousal support payments.

Please use the format below:

5 Particulars (Mr. Morant) Amount
Basic Personal Amount
Spouse Amount
Mother Amount
EI Amount
CPP Amount
Canada Employment
Eligible Dependent Amount
Age Amount
Pension Amount
Canada Caregiver Amount
Total credit base 0
6 Particulars (Ms. Young) Amount
Basic Personal Amount
Spouse Amount
Mother Amount
EI Amount
CPP Amount
Canada Employment
Eligible Dependent Amount
Age Amount
Pension Amount
Canada Caregiver Amount
Total credit base 0

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