Bob, a widower who is $65$ years old, has correctly calculated his taxable income for $2021$ as follows:

Employment income under subdivision a$..........................$$$10,000$

Pension income $($registered pension plan$).........................$$$20,000$

Old Age Security and Canada Pension Plans.....................$$10,000$

Dividends $($grossed up$)$ from Cdn resident public corp.....$ $2,760$

Interest income...................................................................$ $4,700$

Taxable income...........................................................$$47,460$

What is the maximum amount $($rounded to the nearest dollar$)$ of federal income tax credits that Bob can claim on his $2021$ tax return?

$($WK$)$

 

Answer rating: 100% (QA)

To determine the maximum amount of federal income tax credits that Bob can claim on his 2021 tax return we need to consider the available tax credits ... View the full answer