Ayden Huynh is 30 years old and he was recently married. He is employed as a senior manager with public company since 2018. Due to his employment, he was required to relocate from Ontario to Manitoba. As a result, he and his wife moved to Manitoba on December 4, 2022.

His financial transactions for the 2022 taxation year are shown below:

1) Ayden receives gross annual salary of $110,000, and the last paystub in the year 2022 shows the following amounts withheld by his employer:

Income tax	$20,000
Canada Pension Plan (enhanced contribution $461)	3,500
Employment insurance	953
Donations to a registered charity	300

2) The company does not have any registered pension plan. However, the company does match the RRSP contribution made by its senior management. For the year of 2022, Ayden contributed $5,000 to his RRSP and his company matched and contributed $5,000 to Aydens RRSP as well.

3) Due to the relocation, Ayden has hired a moving company to move all his belongings in Ontario to Manitoba and he incurred the cost of $5,000. The cost was fully reimbursed by his company.

4) While Ayden moved most of his personal items to the Manitoba, he also disposed the following properties

	Proceed	Cost
A limited-edition watch	$1,100	$600
Furniture	1,200	2,500
Stamps	2,000	800

5) In order for Ayden to purchase a house in Manitoba, he sold his only house in Ontario and withdrew the following amounts as a down payment:

• $30,000 from his RRSP; and
• $20,000 from his TFSA which earned $3,300 interest in 2022 from his GIC investment.

6) His house in Ontario was sold for $980,000, which he bought it in 2018 for $600,000.

7) At the beginning of the 2022, Ayden invested stocks in several Canadian public corporation. Overall, he received $4,500 in dividends.

8) In 2022, Ayden also made the following disbursements

Charitable donations	600
Online subscription US newspaper	300
Online subscription Canadian newspaper	200

9) Ayden has the following unused losses carryforward:

• Listed personal property loss carryforward of $400
• Net capital loss of $5,600

Required:

Part 1

For the 2022 taxation year, determine the following for Ayden:

• Net income for tax purposes
• Taxable income
• Federal tax liability

Part 2

Explain any omitted items as income, deduction, and/or credits