1. On April 29, 2017, John purchased 2,000 units in a Canadian mutual fund company for $13,000. On April 29, 2021, he sold 1,500 shares when they hit $29/share and incurred a large gain. He of course bragged about the gain but did not tell anyone about the capital loss of $5,000 that he also incurred on some other mutual funds sold earlier in the year in January 2021. His tax rate is 40%, how much tax will he pay on the sale of these investments?

2. In 2020, Mike's net income was $65,000 while his wife, Simons's net income was $67,000. Their combined eligible medical expenses were $6,000 ($3,000 each). In addition, their 5-year-old daughter, Luna had other eligible medical expenses of $2,500. None of these medical expenses were reimbursed by the Quebec government's health insurance plan nor through their employer's private medical plans. For Federal income tax purposes, the family medical expenses can be combined and claimed on one tax return, which is generally on the lower-income earner's tax return based on the formula: eligible medical expenses over the lower of (1) 3% of net income or (2) $2,397. What is the non-refundable tax credit amount for medical expenses using the non-refundable rate of 15%?

3. It is February 2021 and Alia is looking to maximize her RRSP contribution for a deduction on her 2020 income tax return. She has never been part of a Registered Pension Plan. What is the maximum amount that she can contribute to her RRSP and claim on her 2020 personal income tax returns (include carry-forward amounts)? She has provided you with the following information:

-Salary in 2018 $10,000 (part-time employment to help with her tuition when she was 19).

-Salary in 2019 $80,000. (full-time employment, she was 20).

-Salary in 2020 $85,000. (full-time employment, she was 21).

-Current salary in 2021 $90,000. (full-time employment, she is 22).

-RRSP contribution made previously and deducted on her 2019 tax return for $1,300