Question: This answer can only solved by the tutor who is familiar with canadian tax laws. please i need immidiate help in this question.this is a

This answer can only solved by the tutor who is familiar with canadian tax laws. please i need immidiate help in this question.this is a question of personal financial planning and please I need correct answer asap thanks.

Use the CRA forms (T1 and necessary schedules) to answer the question. You

need to navigate your way to locate the forms:

http://www.cra-arc.gc.ca/menu-eng.html

Calculate the Federal tax payable for the year 2015 for Mrs. Smith, given the

following information:

Employment income: $142,000

Actual dividends: $6,400 (these are "eligible dividends")

Employee CPP contribution: $ 920

EI premium: $730

Registered Pension Plan Contribution: $6,800

Union dues: $620

RRSP contribution: $5,000

Prize from winning the lottery: $25,400

Life Insurance benefit payment received: $105,300

Interest income: $18,000

Tuition fees: $5,560 (was in school full time from January to April and part-

time from May to August)

Charitable donations: $5,320

Federal income tax deducted: $19,800

(Assume no more CPP contribution is required.)

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