Assume Canadian income tax law applies for the following question. Please show your work for calculations involved.

Mr. Oldson sadly passed away on December 1, 2023. He was 88-years-old. Ms. Maximus wants you to compute his 2023 taxable income and federal income tax owing and remind her of the due date for his 2022, and 2023, income tax returns and the due date for paying any income tax owing. Ms. Maximus does not need any advice on trusts, graduated rate estates, or the rights and things tax return at this time. Note: you will lose 1 mark for each incorrect addition/subtraction when computing Mr. Oldsons 2023 taxable income and income tax owing. Additional information about Mr. Oldson is provided in Exhibit II.

Exhibit II Mr. Oldson Mr. Oldson was very ill in 2023 leading up to his death. He was in and out of hospital and unfortunately never got around to filing his 2022 income tax return. In 2023, he incurred medical expense of $75,000 and in early 2023 his doctor signed form T2201 certifying Mr. Oldson as disabled Mr. Oldson was a widower, who owned the following assets on December 1, 2023:

	FMV	Tax Cost
Tax Free Savings Account (TFSA)	$320,800	$195,300
Registered Retirement Income Fund (RRIF)	$575,000	$247,500
Home (he lived here all his adult life)	$975,000	$140,000
Mutual funds (held in a non-registered account)	$151,000	$250,000

In 2023, prior to his death Mr. Oldson earned the following net income: Pension income $60,000 (net of $10,000 in income tax withheld) Eligible dividends $8,000 (cash dividends received, no income tax was withheld) Mr. Oldson had net-capital losses carried forward from a prior year of $40,000 In 2023 Mr. Oldson made instalment payments of $17,000