Mr. Rampersaud is a single father. He has a daughter, Mary, who is 8 years old and
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Question:
Mr. Rampersaud is a single father. He has a daughter, Mary, who is 8 years old and lives with him. Two years ago, Mr. Rampersaud graduated from a Canadian university. He currently has a Canada student loan outstanding. Mr. Rampersaud pays back this loan in monthly instalments of $300. During the year, he paid $450 in interest on this loan.
Required:
Calculate Mr. Rampersaud’s 2023 minimum federal income tax pay-able. Indicate any carry forwards available to him and his dependents. Ignore any income tax amounts that Mr. Rampersaud might have had withheld or paid by instalments.
Related Book For
Canadian Income Taxation Planning And Decision Making
ISBN: 9781259094330
17th Edition 2014-2015 Version
Authors: Joan Kitunen, William Buckwold
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