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Mitch Marner has the following information related to his various investments as of December 31, 2019:

Cash dividends received from investment in common shares of Canadian Resident public corporations..24,016

Cash dividends received from common shares in US corporations (net of $3,016 of foreign withholding taxes; all in Canadian dollars).17,000

Interest earned on 2018 personal income tax assessment416

Interest earned on joint bank account with his spouse (spouse contributes equally)....1,750

Interest earned on his investment account (not joint) with his investment Broker..900

Interest on short-term investments: $20,000 term deposit taken out November 30, 2019 (interest at maturity in six months)

Accrued interest from December 1 to December 31, 201985

$200,000 GIC purchased November 1, 2018 (interest payable at maturity on October 31, 2021) Accrued interest from November 1, 2018 to October 31, 2019.16,000 Accrued interest from January 1, 2019 to December 31, 2019.16,214

Government of Canada Treasury Bills purchased for $9,009 on January 3, 2019 Amount received on maturity on December 31, 2019.....10,000

Rental details from operation of two separate rental properties: Property A Property B Gross rental revenue$ 31,000 $ 45,000 Utilities. 5,000 8,000 Property taxes 2,400 3,500 Repairs 1,500 4,800 Mortgage interest.. 20,000 32,000 Opening UCC. 368,209 520,225

Interest expenses paid during 2019: Interest on vacant land (purchased in 2014, the land does not generate any income)10,000

Interest on bank line of credit used for investing in shares described above....50,000

Interest on loan to acquire an automobile for his daughter for her 18th birthday..3,216

Required: Based on the above, Mitch has asked you to calculate his income for the year. He would also like you to comment on the income tax implications of items not included in your calculations.

it is a canadian taxation laws.

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