Cooper Yau, a personal financial planner in Ontario, has $130,000 in taxable income for the year...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Cooper Yau, a personal financial planner in Ontario, has $130,000 in taxable income for the year 2021. He has federal tax credit of $2,800 and Ontario tax credit of $1,800. REQUIRED: His federal tax in 2021 b)His Ontario tax in 2021 () His Ontario surtax, if any, in 2021 (4) His 2021 average tax rate (1 mark) His marginal tax rate for 2021 interest income (1 mark) (2 marks) (2 marks) (2 marks) (His marginal tax rate for 2021 eligible Canadian dividends (1 mark) His marginal tax rate on 2021 realized capital gain (1 mark) Cooper Yau, a personal financial planner in Ontario, has $130,000 in taxable income for the year 2021. He has federal tax credit of $2,800 and Ontario tax credit of $1,800. REQUIRED: His federal tax in 2021 b)His Ontario tax in 2021 () His Ontario surtax, if any, in 2021 (4) His 2021 average tax rate (1 mark) His marginal tax rate for 2021 interest income (1 mark) (2 marks) (2 marks) (2 marks) (His marginal tax rate for 2021 eligible Canadian dividends (1 mark) His marginal tax rate on 2021 realized capital gain (1 mark)
Expert Answer:
Answer rating: 100% (QA)
a The tax for Cooper would be Assuming that Coper Yau is a resident of Ontario using the federal and Ontario tax rates for 2021 we can calculate the following Federal tax First we need to determine Co... View the full answer
Related Book For
Posted Date:
Students also viewed these accounting questions
-
A companys net income for the year was $17,000. During the year, the company paid dividends on its non-cumulative preferred shares amounting to $12,000. Calculate the amount of the years net income...
-
The net income for the year ended December 31, 2015, for Oliva Company was $1,900,000. Additional information is as follows: Depreciation on plant...
-
The Doyle Trust reports distributable net income for the year of $100,000 and no income from tax-exempt sources. Under the terms of the trust instrument, the trustee must distribute $20,000 to Roger...
-
Using the framework of the marketing mix, appraise the marketing tactics of Boo.com in the areas of Product, Pricing, Place, Promotion, Process, People and Physical Evidence.
-
Using the result in Problem 23, show that whenever two assets have perfect negative correlation it is possible to find a portfolio with a zero standard deviation. What are the portfolio weights?
-
Current Assets Current Liabilities Cash 2 0 7 , 0 0 0 , 0 0 0 3 2 0 , 7 0 0 , 0 0 0 Accounts Payable 6 1 3 , 0 0 0 , 0 0 0 5 3 8 , 0 0 0 , 0 0 0 Accounts Receivable 4 6 1 , 0 0 0 , 0 0 0 5 7 4 , 7 0...
-
How can quota sampling being applied through a website like www.linkedin.com?
-
A He-Xe mixture containing 0.75 mole fraction of helium is used for cooling of electronics in an avionics application. At a temperature of 300 K and atmospheric pressure, calculate the mass fraction...
-
Based on the background readings and your own research, elaborate on unique principles that organizations can use to foster success through their IT Management Plan. Address a plan the organization...
-
One criticism of Hofstedes work is that the scores on each dimension reflect only an average tendency of a particular country and, therefore, inadequately reflect the wide range of responses given...
-
Violating the code of ethics can be a major professional problem. The CAE SHOULD NOT be included in a company's stock option program because it does violate the Code of Ethics. In Section 2.2 of the...
-
b) A deflection type spring balance for measuring mass is calibrated in an environment at a temperature of 20C. When used at 40C there will be some error in the measured values according to the...
-
(a) A solid driveshaft from a turboprop engine of circular cross section has a radius of 72mm. Due to the material properties of the shaft, the shear stress is limited to 80MPa and has a modulus of...
-
The resultant couple of the three couples shown is zero. Determine the magnitudes of F and P given that d1 = 850 mm and d2 = 470 mm. Z F= O P = 300 mm F LL d2 300 N N A N Y -F 300 N Note: Fill your...
-
Hope everyone is doing well. Here in this email I am providing how you should calculate the percentage of yield in the PHASE TRANSFER CATALYSIS experiment. Initially every group took 2ml of reaction...
-
0 of 1 A metal cube dissolves in acid such that an edge of the cube decreases by 0.80 mm/min. How fast is the volume of the cube changing when the edge is 7.40 mm
-
The price of a risky 10-year zero-coupon bond depends on two parameters: risk-free 10-year spot rate r(10) (to simplify notations, denote r(10) by r), and the Today r=0.05 and s=0.12, so, risk...
-
Velshi Printers has contracts to complete weekly supplements required by fortysix customers. For the year 2018, manufacturing overhead cost estimates total $600,000 for an annual production capacity...
-
Lahdekorpi OY, a Finnish corporation, owns 100 percent of Three-O Company, a subsidiary incorporated in the United States. Required: Given the limited information provided, determine the best...
-
How is the revaluation surplus handled under the revaluation model?
-
What are the four classes of financial assets?
-
The suitability concern discussed by Kroll and Park most likely deals with: A. governance. B. transparency. C. investment horizon. Kevin Kroll is the chair of the investment committee responsible for...
-
Which of Parks statements regarding the asset allocation approaches is correct? A. Only Statement 3 B. Only Statement 4 C. Both Statement 3 and Statement 4 Kevin Kroll is the chair of the investment...
-
Based on the forecasted environment, liquidity planning should take into account that general partners may: A. call capital at a slower pace. B. make distributions at a faster pace. C. exercise an...
Study smarter with the SolutionInn App