Assignment task:
Jany Wall is a Tax Analyst with a Canadian public company. In 2022, she had net taxable income of $88,800, all of which was employment income.
Her employer withheld the maximum EI premiums of $953 and CPP contributions of $3,309. Assume that part of the CPP contribution of $461 has been properly considered in the determination of net and taxable income.
Jany is 48 years old, and her common-law partner is 46 years old and has net income of $8,140.
They have an adopted child who is 18 years old and lives at home. He attends college on a full time basis for 8 months during 2022. Jany pays his tuition fees of $4,650, as well as $650 for the textbooks that he requires in his program. The son has net income of $5,350. The son agrees to transfer the maximum education credits possible to Jany.
Jany and her partner have medical expenses of $4,800. Medical expenses for the son total $3,200.
Required (Show all calculations):
Calculate the minimum Federal income tax payable for 2022 for Jany Wall.