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Avery Swan is 30 years old and single. She is employed as a middle-level manager with a national Canadian company. After living and working for five years in Regina, Saskatchewan, she was transferred to her employers office in Winnipeg, Manitoba, on December 15, 2022.

Her financial transactions for the 2022 taxation year are shown below.

Avery receives an annual salary of $55,000, The following was withheld by the employer:

Income tax	(13,000	)
Company pension contribution	(2,200	)
Canada Pension Plan (enhanced contribution $461)	(3,500	)
Employment Insurance	(953	)

During the current year, Avery purchased 1,100 shares of her employers company (a public corporation) under a stock-option program. The shares cost $10 each and at the time of purchase had a market value of $14 per share. When the stock option was granted two years ago, the share price was $11. To fund the purchase, she borrowed $10,000 from her bank. During the year, she paid interest of $900 on the loan.

The previous year, Avery had unwisely invested in commodity futures and lost a large portion of her savings. She considered this loss to be a business loss but was unable to use the full amount for tax purposes because her other income was not sufficient. Of the total loss, $6,600 is unused.

As well, Avery had the following receipts for 2022:

Dividends from taxable Canadian corporations (Eligible)	$	4,400
Dividends of $1,000 from a foreign corporation, less foreign taxes of $150		850
Cash received from RRSP withdrawal used to purchase home		35,000
Proceeds from the sale of public corporation shares (originally purchased for $20,000)		28,600

In 2022, she made the following disbursements:

Winnipeg home down payment (first home)	$	60,000
Mortgage payments on her new home		1,000
Life insurance		400
Charitable donations		700
Contribution to a federal political party		850
Tuition fees to a university (one-day course)		400

Required: For the 2022 taxation year, determine the following for Avery:

a. net income for tax purposes b. taxable income Paragraph 3(a) Income $0 Paragraph 3(b) Capital gains \& capital losses Paragraph 3(c) Other deductions Paragraph 3(d) Losses Net Income for tax purposes Net Taxable Income c ferleral tax liahility

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