Question: 1 Problem Solving /40 for full credit, ensure to have full answers. Answers with incorrect answers but correct reasoning will receive partial credit. Answers with
1 Problem Solving /40 for full credit, ensure to have full answers. Answers with incorrect answers but correct reasoning will receive partial credit. Answers with correct answer but incorrect or missing reasoning will receive no credit. 1. Mrs. Janet is provided with an automobile by her employer. The employer zequired the auto mobile in 2015 for $25000 plus $1250 GST and $2000 PST. During 2016, Janet drive the automobile a total distance of 28000 kilometre, 16000 kilometre which were related to employment duties, the car is available throughout the year. Calculate Janet's minimum 2016 taxable benefit for the use of automobile. (5 marks) 2. Matthew Jameson lives with his wife, a year ago, his 65 years old father came over to live with lim. Te father is physically active and has tax pur- pose for $12500. Determine the amount of Matthew's caregiver tax credit for 2016 if any. How would the answer change if the father was mentally or physically infirm? (5 marks) 3. Sam Jonas and his dependant family members had the following Net in- come for Tax Purposes and medical expenses for 2016, Sam Paid for all the medical expenses given San's net income was $140000 and his medical expenses were $ 5600, his wife belly's income was $12000 and expenses of $1400, their 16 years old daughter ste luns income of $500 and expenses of 84200. The elderly parents of Sam were staying with him as well. Sharon his mother had $16500 expenses with income of $6100 and his father Mar- tin had $1000 medical expenses and income of $12000. Calculate the Total Medical expenses (6 marks 4. During 2016, James Bright attends university for 5 months of full time study and 2 months of part time study. The Total tuition for the year including ancillary fees, is $3700 of which $1500 was prepaid in 2015. The amount paid in 2016 includes $450 in fees that are only charged to students in her geology program. Interest paid for the year on her student loan was $125. determine the total amount of education related tax credits that would be available for Ms. Bright in 2016? (6 marks)
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