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Image (5) - 5 Mrs Dock is single and has two children ages...

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Unformatted text preview: 5. Mrs. Dock is single and has two children ages 5 and 15. She is currentiy employed by a talent agency and earns $200,000 a year in 2006. Mrs. Dock is also a partotime student at Ryerson. (4 months of the year). Her tuition is 54.000. She makes contributions to an RRSP totalling $15,000. CPP and El. deducted at source was at the maximum. Tax deducted from source was $70,000. if her provincial tax rate was 50%, calculate the amount of tax Mrs. Dock should pay in 2006. Mrs, Dock also contributed $5,000 to her favourite charity and incurred $2,000 in non-reimbursed medical expenses in 2006. PART C (5 marks) Joe was born in Trinidad and moved to Canada in February 2007. in 2007, he moved back and forth between the two countries and spent 150 days in total in Canada on various job assignments. He got a Canadian visa, got a Canadian drivers license, and opened a Canadian bank account, However, he maintained a home and family in Trinidad. while renting an apartment in Canada. He finally went back to Trinidad for good in December 2007. Employment income earned in Canada totalled $10,000 and investment income earned in Canada totalled $5,000. He earned $50,000 Canadian in Trinidad during 2007. While in Canada he incorporated a business which earned a $30,000 taxable profit. Determine the residency status of Joe and his company? (show your reasoning) How will the income earned in Canada be taxed in Canada? ...
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