Calculate Mr. X's the net employment income for 2020? Question 7 options: a) $21,500 b) $27,500 c) $21,000 d) $27,000
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Mr. X was an employee with the following information from his employment in 2020.
Salaries and wages - $27,000
RRSP contribution in 2020 - $5,500
Membership dues paid by Mr. X - $500
Calculate Mr. X's the net employment income for 2020?
Question 7 options:
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- During 2019, Carl (a single taxpayer) has a salary of $91,500 and interest income of $11,000. Calculate the maximum contribution Carl is allowed for an educational savings account. $0 $400 $1,000 $2,000 Some other amountZ was an employee with the following information from her employment in 2021. Salaries and wages - $57,500 RRSP contribution in the final months of 2021 - $5,500 Membership dues paid by Ms. Z’s employer on her behalf - $500 What is Ms. Z’s net employment income for 2021? _$52,000__________Mr Tan was paid a salary of $250,000 for 2019 and a non-contractual bonus of $50,000 to be paid in January 2020. He was also provided with a fully furnished accommodation. The total rent (inclusive of rent for furniture and fittings) paid by the employer in the year was $60,000.What is Mr Tan’s employment income for the Year of Assessment 2020? Question 14 options: 1) $360,000 2) $300,000 3) $310,000 4) $250,000
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