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Instructions Annette is a staff accountant at ABC Inc. The following items pertain to her employment Information for the 2020 taxation year for each question provide the effect on Annette's minimum net employment Income A net inclusion in employment income should be entered in the box as a positive number . If the item would have no effect on the calculation of employment income, enter the number 0 (zero) in the box A net deduction from employment income should be entered in the box as a negative number IMPORTANT NOTES: Your answers must be rounded to the nearest dollar where applicable Any amounts that require pro-ration over time should be based on months (not days) THE During 2020, Annette received a salary of $84,000 and a bonus for her successful performance in 2019 of $8,000 QUESTION 2 ABC Inc. withheld the following amounts from Annette's paycheque in 2020: Income Taxes $14,000 CPP Premiums 2,898 El Contributions 856 RPP Contributions 4,000 QUESTION 3 During 2020, ABC Inc. provided Annette with a leased automobile. The monthly lease cost for the car is $920, including all taxes. ABC paid $2,000 for the operating costs of the car during 2020. Annette used the car for 8 months during the year and during the months of non-use, it was returned to ABC's premises. During 2020, she drove the car a total of 19,000 kilometers of which 5,000 kilometers were for employment-related travel and the remainder was for personal use. Annette reimbursed ABC $210 per month of use of the automobile. QUESTION 4 In 2018, Annette was given options to buy 1,000 shares of ABC's stock at a price of $36.6 per share. At the time the options were issued, the shares were trading at $34.39 per share. At the beginning of 2020, Annette exercised some of her options and purchased 720 shares. At the time of exercise, the shares were trading at $41.56 per share. She sold the shares for $41.71 per share in late 2020. ABC Inc. is a CCPC. QUESTION 5 During 2020, Annette paid $870 in fees to the CPA, ABC Inc does not relmburse these fees QUESTION 6 ABC Inc. pald premiums of $910 to cover private health care for Annette in 2020. QUESTION 7 Annette has a home office and ABC Inc. has provided her with a signed form T2200 stating that she is required to pay for certain employment expenses without relmbursement and use a portion of her home for work. Her office takes up 170 square feet of her 3900 square foot home. Annette incurs the following expenses related to her home in 2020: Cleaning and Repairs $1,980 Property Tax: 3,001 Electricity (Hydro): 4,998 QUESTIONS Annette received the following gifts from ABC during 2020: A non-cash long service award for 5 years of service valued at A cash Christmas bonus of A gift basket valued at $790 370 330 QUESTION 9 In 2019, ABC Inc. provided Annette with a loan of $232,000 at interest rate of 0% to aid in the purchase of a home. Annette paid all of the interest required in 2020. Assume that the entire amount of the loan is outstanding during 2020. Prescribed rates during 2020 were as follows: Q1&Q2: 2% Q3&Q4: 1% QUESTION 10 As an employee of ABC, Annette is entitled to discounts on merchandise that she purchases from the company, Employee purchases are not discounted below cost to ABC. Annette received discounts over the year in the amount of $500

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