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1 . Johnathan is an accountant who works for Reading Railroad Ltd , which is a public company. He earns $ 8 0 , 0
Johnathan is an accountant who works for Reading Railroad Ltd which is a public company. He earns $ in wages during the year. His employer withheld $ of CPP from his paycheques, $ of EI and $ of income tax, so that he only received $ cash throughout the year.
Johnathan moved during the year for work. It was an eligible relocation. His employer reimbursed the loss on the sale of his old residence. The amount of the loss reimbursement was $
Johnathan was provided a private health care plan for his family. The employer paid $ of premiums for this plan. He also earned a cash bonus of $ for being the hardest working employee during the year. Additionally, he received a large painting as a Christmas present from his employer, which has a value of $
Johnathan went on a work trip to Florida to go to several conferences. His trip was for employment purposes. He also brought his spouse and daughter along, and the two of them enjoyed going to the beach in Florida for several days while Johnathan attended his conferences. Johnathan's employer paid for the plane tickets for all three of them, which cost $ each.
Johnathan wanted to improve his skillset and requested that his employer pay for him to take several courses. His employer paid for him to take a bookkeepingaccounting course for $ Additionally, Johnathan is very interested in starting a side hustle as an Instragram Influencer. Despite this course having nothing to do with his current position, his employer also agreed to pay for him to take an Instagram Influencer Marketing course to reward him for all his hard work, since Johnathan had a personal interest in it The tuition cost $
Johnathan sometimes was not very fashionable, so his employer decided to improve his wardrobe by providing him with several new suit jackets. The employer was hoping Johnathan would wear these to work, but Johnathan could also use these jackets for personal purposes as well, since they were not distinctive uniforms specific to his place of work. The employer thought this would help him appear more professional to clients at work. The three suit jackets were valued at $ total.
Johnathan was also provided with an employerowned automobile. The vehicle was available to him throughout the year. He drove the vehicle kilometres this year, kilometres of which were for employment purposes. The vehicle was purchased in for $ plus $ HST His employer also pays for all of the vehicle operating costs, which totalled $ this year.
In Johnathan was granted stock options from his employer to buy of his employer's shares at a price of $ per share. On the grant date, the shares were trading at $ per share. In November he exercises all of the options when the shares are trading at $ per share. He still owns all of these shares at the end of
Reading Railroad Ltd contributed $ to Johnathan's Defined Contributed Registered Pension Plan RPP during the year. In accordance with his pension plan agreement, Johnathan contributed $ to his own RPP during the year, as well.
Required: Compute Johnathan's net employment income. Answer on the P Response" tab, in the yellow boxes. Show any additional work in the green space indicated on the P Response" tab. Using the template please and can you show the work thanksFill in the appropriate employment income inclusions and deductions in the yellow boxes beside each relevant line item. Inclusions should be entered as a positive number;
deductions should be entered as a negative number. Your additional work and notes required for this question should be entered in the green space. If a particular line item
does not impact employment income because it is not taxable or deductible, enter beside it in the yellow box.Fill in the appropriate employment income inclusions and deductions in the yellow boxes beside each relevant line item. Inclusions should be entered as a positive number;
deductions should be entered as a negative number. Your additional work and notes required for this question should be entered in the green space. If a particular line item
does not impact employment income because it is not taxable or deductible, enter beside it in the yellow box.
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