Ralph has total income of $$53000.$ He has business expenses of $$18000,$ made a $$5000$ RRSP contribution and incurred $$4000$ in tuition expenses for his daughter, who did not work and is a freshman at a local community college. He has a basic personal amount of $$12298.$

Compute Ralph's taxable income for the current year. 

Answer rating: 100% (QA)

To compute Ralphs taxable income we need to subtrac... View the full answer