3.

Mary Chan,72, years old, has the following information for her Income Tax Return this year:

Net Capital Gains	$12,000
Annual Union Dues	$2,000
Employment Income	$40,000
RRSP Deduction	$10,000
Employment Expense Deduction	$3,000
Net Capital Loss Carry forward from 2015, available this year	$50,000

Please choose the most accurate answer for Mary's T1 Income Tax Return this year?

Assume Mary will want to minimized her taxable income this year.

		The Taxable Capital Gains is $6,000 The Taxable Income is $25,000 The Net income is $30,000 The Total Income is $45,000 The Maximum Net Capital Loss carry forward this year will be $6,000 (Line 253000)
		The Taxable Capital Gains is $10,000 The Taxable Income is $40,000 The Net income is $40,000 The Total Income is $45,000 The Maximum Net Capital Loss carry forward this year will be $10,000 (Line 253000)
		The Taxable Capital Gains is $6,000 The Taxable Income is $25,000 The Net income is $31,000 The Total Income is $46,000 The Maximum Net Capital Loss carry forward this year will be $6,000 (Line 253000)
		The Taxable Capital Gains is $5,000 The Taxable Income is $35,000 The Net income is $30,000 The Employment Income is $45,000 The Maximum Net Capital Loss carry forward this year will be $50,000 (Line 253000)

4.

Jane, this year moves 500 kilometers closer to her employment work place.

She has the follwoing moving cost related to her move, as noted above.

Her employment income after her move was $10,000

She wil apply the Simplied Method for Mileage (KM) and Meals claims.

Moving Cost: $2,000

Mileage: Kilometer driven by her personal automobile: 600 km.

Days to drive to her new home: 1 day

Please choose the best and most accurate answer related to her moving expense deduction this year?

		An employee must move a minimum of 50 kilometers in order to claim moving expense deduction this year. And Jane's moving expense deduction this year will be, $2,411
		For this year, an employee's moving expense deduction is not limited to the employment income earned at his new job after he moves to his new home for this calendar year. And Jane's moving expense deduction this year will be, $2,411
		An employee must move a minimum of 40 kilometers in order to claim moving expense deduction this year. And Jane's moving expense deduction this year will be, $2,000
		For this year, an employee's moving expense deduction is limited to the employment income earned at his new job after he moves to his new home for this calendar year. And Jane's moving expense deduction this year will be, $2,411