1. Mr. Anderson has come to you to ask you for help calculating his installments due to Revenue Canada for 2020. He gives you the following information:

Year Taxes Payable

2016 $15,000 (actual)

2017 $ 6,000 (actual)

2018 $ 0 (actual)

2019 $ 24,000 (actual)

2020 $ 0 (estimate)

Required:

Calculate the quarterly installments and total installments for Mr. Anderson for 2020 using the three methods described in your textbook and in class.

2. In your own words, describe what is meant by each of the following, and give an example of each found within the Canadian tax system:

1. a) Proportional Tax
2. b) Progressive Tax
3. c) Regressive Tax

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a No Calculation Method Quarterly installment will be based on l... View the full answer