In each of the following independent cases, determine the maximum amount of 2019 personal tax credits, including transfers from a spouse or dependant, that can be applied again federal tax payable by the taxpayer. A calculation of tax payable is not required only the applicable credits. 

6. Mr. Smead has Net Income For Tax Purposes of $85,000, none of which is employment
income or income from self-employment. He lives in a residence that he has owned for
many years. He does not currently have a spouse or common-law partner. However, he
has custody of his 10-year-old son who lives with him. Also living with him is his 68-year-old
, widowed mother. She has a physical infirmity. However, it is not sufficiently severe
for her to qualify for the disability tax credit. Mr. Smead's son had no income during the
year. His mother had OAS benefits and pension income which totaled $18,500 during
the year.
Tax Credits at 15%:
Total		-
Rate		15%	-
Federal Tax Payable			-

Answer rating: 100% (QA)

Note 1 The single Basic Personal Tax creditJason can claim against a tax payable o... View the full answer