practice
Examination
Solution
-
Chapter
4
(Tax
Payable
For
Individuals)
Page
3
Solution
15
(10
Marks)
Her
tax
credits
would
be
as
follows:
Basic
Personal
Amount
Amount
For
Eligible
Dependant
-
Daughter
Child
-
Daughter
2,19
Caregiver
Including
FCA
-
Son
($
6,40
Credit
Base
$25,937
Rate
]
Total
Credits
$
3,891
Since
Ms.
Borat
claims
her
daughter
for
the
eligible
dependant
credit,
her
son
cannot
qualify
for
this
credit.
This
means
that
she
can
claim
the
caregiver
credit,
including
the
family
care-
giver
amount,
for
him.
1
grading
point
for
each
highlighted
item.
Total
5
Your
Mark
=
[{(#
of
grading
points
+
7)(1
0%)=__%
Solution
16
(15
Marks)
The
credit
base
for
2012
would
be
I
chooses
to
claim
$23,000,
leaving
a
c
resulting
credit
would
be:
i
o
|
to
$69,000
[(75
rward
of
$87,00
54
)l.
However,
he
110,000
-
$23,000).
The
$
30
Percent
6,612
Total
Credit
$6,642
As
his
income
for
2013
is
unchanged
from
2012,
the
|
mit
would
be
the
same
$69,000
{(
)
].
Charitable
donations
can
be
carried
forward
for
upto
5y
.
Asa
result,
the
final
year
to
claim
any
unused
portion
of
his
2012
donation
would
be
1
grading
point
for
each
highlighted
item.
Total
12
Your
Mark
=
[(#
of
grading
points
+
12)(18%)]
=
___%
