Luca started his first new job with Telus on January 1, 2024, earning a gross monthly salary of $4,500. Since he has never worked before, he's trying to understand how his income taxes will work for the year. Knowing you're good with finances, he asked for your help to calculate his net income for 2024. On December 1st, Luca made a $4,000 contribution to a Registered Retirement Savings Plan (RRSP) and a $7,000 contribution to his Tax-Free Savings Account (TFSA). What will Luca's net income be for 2024?
Question 67 Select one:
a.
$58,000
b.
$43,000
c.
$54,000
d.
$65,000
e.
$50,000