Question: Mr. Senior turned 65 in the current year and received pension income from the following sources: Mr. Senior had no other income for the year.

Mr. Senior turned 65 in the current year and received pension income from the following sources:

Mr. Senior had no other income for the year. His wife, age 66, had net income of $6,000 (OAS and interest income) in the current year. Income tax reference: ITA 56(1)(a.2), 60(c), 60.03, 117(2), 117.1(1), 118(1)(a), 118(2),(3), 118.8.
Determine Mr. Senior€™s federal tax payable for the current year assuming €“
(i) He does not elect to split his pension income.
(ii) He elects to split his pension income.

S 5,800 eOld-age securitv pension . Canada Pension Plan .Pension income from former employer 7,300 32.000 $45.100

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i Pension income not split Federal income tax 15 x 43953 6593 22 x 1147 252 45100 6845 Deduct nonref... View full answer

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