Calculate Bridget$$s minimum net income for tax purposes in accordance with the ordering provisions found in section $3$ of the Income Tax Act, and her minimum taxable income for the $2023$ taxation year.

ii$.$

Based on your answer to part $($a$),$ calculate Bridget$$s minimum federal income tax for the $2023$ taxation year. Show all calculations. $1.$ In $2023,$ Bridget received a salary of $$155,000.$ From this income, NPI deducted income tax of

$$19,000,$ Canada Pension Plan contributions of $$3,754$ and $$1,002$ of Employment Insurance premiums.

The company contributed $$500$ to a group term life insurance premium and $$3,500$ to the company$$s

deferred profit$-$sharing plan. The company also contributed $$2,500$ to its registered pension plan on

Bridget$$s behalf; Bridget made a matching contribution of $$2,500.$

$2.$ Bridget received a discount of $50\%$ on products purchased through the employer. She estimated

that the discount saved her $$1,500.$ This discount is only available to senior management of the

company.

$3.$ She attended a one$-$day convention related to her job. NPI paid $$600$ for the cost of the

convention. She also attended an internal sales conference arranged exclusively for the sales

department. Each participant was given a $$25$ retail store gift card.

$4.$ Bridget meets potential clients on a frequent basis. NPI paid her $$2,500$ as a clothing

allowance. She spent $$5,000$ on new clothing during the year.

$5.$ Bridget is required to use her own automobile for employment purposes. Her employer has signed a

T$2200$ for her in this respect. She was given $$2,000$ as an auto allowance in $2023.$ She travelled a

total of $20,000$ km$,$ of which $9,000$ km were for employment purposes. Her total operating cost for

this year was $$4,000$ and on December $31,2020,$ the undepreciated capital cost allowance balance was

$$10,000.$

$6.$ She received a dividend of $$1,000$ from the active business income of NPI. She also received

$$1,800($net of $$200$ withholding tax$)$ from a U$.$S$.$ company. She paid $$200$ to an investment advisor

for advice regarding an RRSP investment.

$7.$ She sold a collection of stamps for $$2,500$ on October $1,2023.$ She won this collection in a

lottery in $2015.$ The fair market value of this collection was estimated at $$800$ at the time of

winning. She also sold some antique jewelry to a good friend for $$1,500.$ She inherited it from her

great aunt many years ago.

$8.$ Bridget started a consulting business as a sole proprietor in $2023.$ Her clientele consisted of

corporate organizations looking to redesign their meeting spaces used for professional development

and in$-$office events. Her gross revenues for this business were $$25,000$ and operating expenses were

$$5,000.$ Her other expenses included a golf club membership fee of

$$2,000$ to find potential clients and $$3,000$ home office expenses related to the business. She used

a portion of her house as her principal place of business.

$9.$ In $2023,$ Bridget had the following other receipts and disbursements:

Donation to the Canadian Cancer Society $$500$ Employee assistance counselling fee paid by

NPI $$600$ Financial counselling fee paid by NPI $$400$

Digital marketing course tuition fee paid by NPI $$750($BCIT$,12-$week course$)$

$10.$ Bridget is married and has three children ages $7,10,$ and $13.$ Her husband is a mechanical

engineer for a local start up technology company and earned $$155,000$ in $2023.$ Bridget$$s mother also

lives with her and her husband and is retired. Bridget paid her $$3,000$ during $2023$ for helping with

some casual childcare. The remainder of childcare expenses were paid to a registered afterschool

care program of $$12,000.$

$11.$ Bridget invested $$16,000$ to her RRSP for $2023.$

$12.$ On January $15,2023$ Bridget received options to buy $200$ shares of NPI$$s common stock at a price

of $$23$ per share. At this time, the shares were trading at $$20$ per share. Bridget exercised her

options on July $6,2023,$ when the shares were trading at $$28$ per share. She plans to sell the

shares next year if they increase in value.

$13.$ To assist Bridget in acquiring a home, NPI granted her a five$-$year, interest free loan of

$$125,000.$ The loan was granted on October $1,2022,$ where the interest rate on open five$-$year

mortgages was $5\%.$ Assume the prescribed interest on employee loans was $2\%$ on this date and remained

unchanged during the year. Bridget purchases a house for $$435,000$ on October $2,20232$ She did not

own a home during any of the preceding four years.

$14.$ During $2023,$ Bridget spent $$8,400$ on meals and entertainment with NPI clients; NPI

reimbursed all but $$1,000$ of these costs.

$15.$ During $2023,$ Bridget received several gifts from her employer:

$$ As a reward for winning the company's Employee of the Month Award, she receives an expense paid

weekend in a local resort. The regular price for this package was $$1,200.$

$$ Like all the company's employees, Bridget received a $$600$ gift certificate for gift cert C