1)(4 Marks)Mrs. Lucas owns a number of properties in Saskatchewan.She also has a large investment portfolio which contains a variety of shares in Canadian companies. In the current year, she is considering selling one of her properties (land and building) and shares in Beta Inc.Mrs. Lucas would like you to advise her on the tax consequences of these sales.The information regarding the property and shares are below.

Property- Mrs. Lucas has land and a building that she is willing to sell.

The original cost of the land was$89,300and can be sold for$141,100

The building's original cost was$107,500and can be sold for$112,600

Shares- Mrs. Lucas purchased The Beta Inc. shares in 2005 for:$69,500

However the shares have been dropping in value in the last few year and are current worth:$32,900 Mrs. Lucas believes the value of the shares will continue to drop and wishes to sell soon.

REQUIRED:

A)Advise Mrs. Lucas of the tax consequences of selling the land, building, and shares this year.Show all calculations.

B)If Mrs. Lucas had a Net Capital Loss from 2014 of$18,500 Explain what she can do on her 2017 tax return.