chapter 2 assignment.docx - Instalment Payments For Individuals For the three years ending Galina Skurnick\u2019s combined federal and provincial taxes

chapter 2 assignment.docx - Instalment Payments For...

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Instalment Payments For IndividualsFor the three years ending December 31, 2020, Galina Skurnick’s combined federal and provincial taxes payable areas follows:2018$28,800201923,0402020(Estimated)21,600Assume Ms. Skurnick’s employer withholds combined federal and provincial taxes for each year as follows:Case One$19,200 in 2018, $16,000 in 2019, and $16,000 in 2020.Case Two$11,200 in 2018, $24,000 in 2019, and $14,400 in 2020.Case Three$27,500 in 2018, $16,200 in 2019, and $18,200 in 2020.Required: For each of the preceding independent Cases, calculate the minimum instalment payments that arerequired to be made towards the settlement of the taxes payable for the year ending December 31, 2020. Show allrequired calculations.If instalments must be paid, your answer should include the date that each instalment is due. Note that, in answeringthis question, you should state a conclusion on whether or not instalments are required, even if the amount of theinstalments is nil.
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