Angelina has taxable income of $130,000 for the current year, including $120,000 of employment income. She is

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Angelina has taxable income of $130,000 for the current year, including $120,000 of employment income. She is not married and lives alone. Angelina’s employer withheld CPP and EI premiums of $3,340 as well as income tax.
Determine Angelina’s federal tax payable for the current year. Income tax reference: ITA 117(2), 117.1(1), 118(1)(c), 118(10), 118.7.
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Canadian Income Taxation Planning And Decision Making

ISBN: 9781259094330

17th Edition 2014-2015 Version

Authors: Joan Kitunen, William Buckwold

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