Required: Determine the maximum amount of 2022 personal tax credits, including transfers from a spouse or dependant, that can be applied against federal Tax Payable by the taxpayer in each of the following independent Cases. A calculation of Tax Payable is NOT required. 1. Mr. Holm has Net Income for Tax Purposes of $55,000, all of which is investment income. He is single and provides support for his mother. His mother is a widow who resides in Latvia and has income of $1 ,100 per year. 2. Mrs. Thomas has Net Income for Tax Purposes of $250,000, all of which is employment income. Her employer has withheld and remitted the required EI and CPP amounts. Mrs. Thomas was married on December 1 , 2022. Her wife, a nursing student, had salary of $21, 000 for the period from January 1 to November 30,2022 and $3,200 for the month of December 2022 . 3. Mr. Jackson has Net Income for Tax Purposes of $75,000, all of which is rental income. He lives with his common-law wife and their 2 children. The children are 7 and 8 years of age and have no income for the year. His wife has Net Income for Tax Purposes of $8,500. 4. Mrs. James is married and has Net Income for Tax Purposes of $110,000, none of which is employment income or income from self-employment. Her 19 -year-old dependent daughter attends university. Her husband has Net. Income for Tax Purposes of $10,500, and her daughter has Net Income for Tax Purposes of $8,500. Her daughter does not wish to transfer her tuition, education or textbook credits. 5. Mr. Morant is 68 years old and has Net Income for Tax Purposes of $29,500, which is comprised of Old Age Security benefits and pension income paid out of his Registered Retirement Income Fund. He is single and he has a son who is 13 years old and is deaf. He has no income of his own. 6. Ms. Young is divorced and maintains a residence far from her former spouse. She has custody of the 2 children from the marriage. They are aged 9 and 12 and in good health. They both earn $750 from paper routes. Her Net Income for Tax Purposes is $72,000, all of which is spousal support payments.1 Particulars (Mr. Holm) Amount Basic Personal Amount Spouse Amount Mother Amount El Amount CPP Amount Canada Employment Eligible Dependent Amount Age Amount Pension Amount Canada Caregiver Amount Total credit base 2 Particulars (Mrs. Thomas) Amount Basic Personal Amount Spouse Amount Mother Amount El Amount CPP Amount Canada Employment Eligible Dependent Amount Age Amount Pension Amount Canada Caregiver Amount Total credit base 0.

1. Required: Determine the maximum amount of 2022 personal tax credits, including transfers from a
spouse or dependant, that can be applied against federal Tax Payable by the taxpayer in each of
the following independent Cases. A calculation of Tax Payable is NOT required. 1. Mr. Holm has
Net Income for Tax Purposes of $55,000, all of which is investment income. He is single and
provides support for his mother. His mother is a widow who resides in Latvia and has income of $1
,100 per year. 2. Mrs. Thomas has Net Income for Tax Purposes of $250,000, all of which is
employment income. Her employer has withheld and remitted the required EI and CPP amounts.
Mrs. Thomas was married on December 1 , 2022. Her wife, a nursing student, had salary of $21,
000 for the period from January 1 to November 30,2022 and $3,200 for the month of December
2022 . 3. Mr. Jackson has Net Income for Tax Purposes of $75,000, all of which is rental income.
He lives with his common-law wife and their 2 children. The children are 7 and 8 years of age and
have no income for the year. His wife has Net Income for Tax Purposes of $8,500. 4. Mrs. James
is married and has Net Income for Tax Purposes of $110,000, none of which is employment
income or income from self-employment. Her 19 -year-old dependent daughter attends university.
Her husband has Net. Income for Tax Purposes of $10,500, and her daughter has Net Income for
Tax Purposes of $8,500. Her daughter does not wish to transfer her tuition, education or textbook
credits. 5. Mr. Morant is 68 years old and has Net Income for Tax Purposes of $29,500, which is
comprised of Old Age Security benefits and pension income paid out of his Registered Retirement
Income Fund. He is single and he has a son who is 13 years old and is deaf. He has no income of
his own. 6. Ms. Young is divorced and maintains a residence far from her former spouse. She has
custody of the 2 children from the marriage. They are aged 9 and 12 and in good health. They
both earn $750 from paper routes. Her Net Income for Tax Purposes is $72,000, all of which is
spousal support payments.1 Particulars (Mr. Holm) Amount Basic Personal Amount Spouse
Amount Mother Amount El Amount CPP Amount Canada Employment Eligible Dependent Amount
Age Amount Pension Amount Canada Caregiver Amount Total credit base 2 Particulars (Mrs.
Thomas) Amount Basic Personal Amount Spouse Amount Mother Amount El Amount CPP
Amount Canada Employment Eligible Dependent Amount Age Amount Pension Amount Canada
Caregiver Amount Total credit base 0