Mrs. Rhonda Lee is 65 years old and has Net Income For Tax Purposes of $53,500....

 

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Mrs. Rhonda Lee is 65 years old and has Net Income For Tax Purposes of $53,500. Of this total, $30,600 was from a life annuity that she purchased with funds in her RRSP. Her spouse is 68 years old, has no income of his own as he is ineligible for OAS, and is attending university on a full time basis. His tuition fees for the year were $3,450 and he was in attendance for 3 months of 2020. Determine Mrs. Lee's maximum tax credits for 2020. Ignore the possibility of splitting her pension income with her spouse. Do not include commas or dollar signs in your answer. Calculate Rhonda's age credit base. A What amount, if any, of tuition can Rhonda's spouse transfer to her? A What is Rhonda's total credit base? A What are Rhonda's total credits? A Mrs. Rhonda Lee is 65 years old and has Net Income For Tax Purposes of $53,500. Of this total, $30,600 was from a life annuity that she purchased with funds in her RRSP. Her spouse is 68 years old, has no income of his own as he is ineligible for OAS, and is attending university on a full time basis. His tuition fees for the year were $3,450 and he was in attendance for 3 months of 2020. Determine Mrs. Lee's maximum tax credits for 2020. Ignore the possibility of splitting her pension income with her spouse. Do not include commas or dollar signs in your answer. Calculate Rhonda's age credit base. A What amount, if any, of tuition can Rhonda's spouse transfer to her? A What is Rhonda's total credit base? A What are Rhonda's total credits? A

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Her tax credits would be calculated as follows B Basic Pers... View the full answer