The following table contains information for Gladys Nite for the three years ending December 31, 2019. The Tax Payable column is her combined federal and provincial Tax Payable. The amounts in the columns titled Case One, Two and Three are the amounts withheld by her employer in three independent cases.
Tax Payable Case One Case Two Case Three
2017 $18,880 $14,480 $19,280 $15,280
2018 20,320 19,720 14,880 16,160
2019(Estimated) 21,760 18,640 18,560 19,440
Required:
- A. For each o f the three cases:
•indicate whether instalments are required f or the 2019 taxation year. S how all of the calculations required to make this decision.
•in those cases where instalments are required, indicate the amount o f the instalments that would b e required under the approach used in the C RA’s instalment reminder; and
•in those cases where you have calculated the instalments required under the CRA’s instalment reminder approach, indicate whether there is a better approach and, if so, calculate the required instalments under that approach.
- B. For those Cases where instalments are required indicate the dates on which the payments will be due
