QUESTION FIVE$-$ CALCULATION $OF$ TAX PAYABLE $(18$ MARKS$)$

Required: Determine $Ms.$ Chan's minimum federal tax payable and amount owing $or$ refund.

Daisy Chan $is$ a performer employed $by$ a large public company. Her $2024$ Net Income For Tax

Purposes $is$ $$363,000$ and her $2024$ Taxable Income $is$ $$342,000$

$Ms.$ Chan's employer withheld the following amounts from her earnings:

$El$ Premiums

$CPP$ Contributions

$RPP$ Contributions

Federal Income Taxes Withheld

Contributions Registered Charities

$ $1,049$

$3,218$

$10,500$

$110,500$

$15,000$

$Ms.$ Chan $is35$ years old and lives $in$ common law with Zack Lopez. Zack $is$ a full$-$time student. Zack

agrees $to$ transfer his tuition credits $toMs.$ Chan. Total tuition fees paid for the year are $$16,500.$ Zack

has $2024$ income from investments $of$ $$11,000.$ The couple has one child:

Mia $is7$ years old and $is$ healthy.

$Ms.$ Chan's mother live with her $to$ help with Mia. $Ms.$ Chan's mother has a physical infirmity $(arthritis).$

$Ms.$ Chan's mother has pension income $of$ $$11,159$ for $2024.$

The family's $2024$ medical expenses, all $of$ which were paid $byMs.$ Chan, were $as$ follows:

$Ms.$ Chan And Zack

Mia

$$4,000$

$1,000$