Freida is 45 years old and lives in Toronto Ontario. 1. She is...
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Freida is years old and lives in Toronto Ontario. She is in good health and is employed in the sales department of a large publicly traded company. Her employment income for the year was $ of which included $ of commissions. Her employer withheld maximum EI contributions of $ and maximum CPP contributions of $ and $ to the companies Pension Plan. Freida also contributed to the companys pension plan. Freida decided to sell some stock to pay for medical expenses incurred in the current year. The sold and purchased stock are as follows Bell stock Purchased shares at share Vale stock Purchased shares at share Glencore stock Purchased shares @ share Sold Glencore June shares @ share Sold Vale stock May shares @ share Purchase Glencore stock July shares @ share Sold Bell Stock November share @ share Purchased Bell stock December @ The company also supplies Freida with a T Declaration of Condition of Employment for the use of her personal automobile. Freida only pays for the automobile expenses as the company reimburses her for all office expenses. The company pays Freida $ monthly for the use of her vehicle. The vehicle expenses are as follow: Fuel $ Computermac Book $ Repairs $ Insurance $ Tires $ Office Supplies $ She is divorced and has custody of her yearold daughter, Rachel. The daughter qualifies for the disability tax credit. The daughter has income of $ largely made up of interest on bonds purchased from an inheritance. Jennifers yearold mother, Rose, lives with her and provides care for Cynthia on a fulltime basis. She is active and healthy. As she receives no compensation for this work, Jennifer does not claim childcare expenses in The mothers net income is from Old Adge Security of $ CPP Benefits of $ In Jennifer worked nearly hours as a volunteer search and rescue volunteer. Freidas medical expenses for are as follows: Various prescription drugs Freida $ and Rachel $ Various medical specialist treatments for Rachel $ Prescription sunglasses for Freida and Rachel $ Cosmetic surgery for Freida$ Dentist fees for Freidas mother $ Dentures for Jennifers mother $ In Jennifer contributes $ to the Red Cross, a registered Canadian charity. Freida is taking an intensive course in spoken Chinese at a Ontario university. The tuition fee for the course is $ The duration of the course is eight months. During the year, Freida makes contributions to federal political parties in the amount of $ Required: Calculate Freidas Taxable income, Her BPA NonRefundable Tax Credits for the year show your calculations
Freida is years old and lives in Toronto Ontario.
She is in good health and is employed in the sales department of a large publicly traded company. Her employment income for the year was $ of which included $ of commissions. Her employer withheld maximum EI contributions of $ and maximum CPP contributions of $ and $ to the companies Pension Plan. Freida also contributed to the companys pension plan.
Freida decided to sell some stock to pay for medical expenses incurred in the current year. The sold and purchased stock are as follows
Bell stock Purchased shares at share
Vale stock Purchased shares at share
Glencore stock Purchased shares @ share
Sold Glencore June shares @ share
Sold Vale stock May shares @ share
Purchase Glencore stock July shares @ share
Sold Bell Stock November share @ share
Purchased Bell stock December @
The company also supplies Freida with a T Declaration of Condition of Employment for the use of her personal automobile. Freida only pays for the automobile expenses as the company reimburses her for all office expenses. The company pays Freida $ monthly for the use of her vehicle. The vehicle expenses are as follow:
Fuel $
Computermac Book $
Repairs $
Insurance $
Tires $
Office Supplies $
She is divorced and has custody of her yearold daughter, Rachel. The daughter qualifies for the disability tax credit. The daughter has income of $ largely made up of interest on bonds purchased from an inheritance.
Jennifers yearold mother, Rose, lives with her and provides care for Cynthia on a fulltime basis. She is active and healthy. As she receives no compensation for this work, Jennifer does not claim childcare expenses in The mothers net income is
from Old Adge Security of $ CPP Benefits of $
In Jennifer worked nearly hours as a volunteer search and rescue volunteer.
Freidas medical expenses for are as follows:
Various prescription drugs Freida $ and Rachel $
Various medical specialist treatments for Rachel $ Prescription sunglasses for Freida and Rachel $
Cosmetic surgery for Freida$
Dentist fees for Freidas mother $ Dentures for Jennifers mother $
In Jennifer contributes $ to the Red Cross, a registered Canadian charity.
Freida is taking an intensive course in spoken Chinese at a Ontario university. The tuition fee for the course is $ The duration of the course is eight months.
During the year, Freida makes contributions to federal political parties in the amount of
$
Required: Calculate Freidas Taxable income, Her BPA NonRefundable Tax Credits for the year
show your calculations
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