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Unformatted text preview: IN-CLASS PROBLEMSPERSONAL CREDITSPROBLEM 1On the assumption that all of the following are paid in the year, are properly receipted (unless otherwise indicated), and fall within the income limitation, can each of these donations be included in an individual’s claim for the charitable donation tax credit in the current tax year? If they cannot, explain.(a) A donation of $2,500 to the United Way.Y N(b) A contribution of $500 to the Liberal Party of Canada.Y N(c) A cash donation of $25 placed in the Christmas collection at the taxpayer’s church. No receipt was issued.Y N(d) A donation of $2,000 to the University of Cambridge in the U.K.Y N(e) A donation of $4,000 to Harvard University, which is attended by the taxpayer’s daughter.Y N(f) A donation of $200 to the Heart Foundation.Y N(g) A $5 cash donation to the Girl Guides when they were around selling cookies. No receipt was issued.Y N(h) A donation of used clothing to the Salvation Army.Y N(i) A donation of $35 to the Canadian Lacrosse Association.Y N(j) A donation of $100 to the Regina Housing Corporation, a not-for-profit organization which provides low-cost housing for seniors.Y N(k) A donation of $2,000 to Slippery Rock University in the United States.Y NPROBLEM 2In the summer of 20X9, Janine, a 45-year old university professor, accepted a five-year contract position in New York after several frustrating years dealing with the internal politics and lack of research facilities at her under-funded Canadian university. Her Canadian income to August 31, 20X8, the date of her departure, was $68,000. Her U.S. Canadian income to August 31, 20X8, the date of her departure, was $68,000....
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This note was uploaded on 01/07/2012 for the course ACCT 4453 taught by Professor Gorman during the Spring '11 term at Dalhousie.
- Spring '11