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Can you Please explain me this Problem? Thanks! Agatha earned $35,000 at her job during January 1 st to October 10th of 20x4. She accepted

Can you Please explain me this Problem? Thanks!

Agatha earned $35,000 at her job during January 1st to October 10th of 20x4. She accepted a new position with the company in a town 1312 kilometres away and began the new job on November 1st, 20x4. She earned a gross salary of $8000

after her move.

Agatha's moving expenses included:

$7,000 for a moving van

$300 for meals en route for Agatha and her 4-year-old daughter on the four-day drive

$700 for accommodations en route

$3000 ($150 per day) for 20 nights of temporary lodging in the new location until her apartment was available

$550 in gas receipts

She was not reimbursed for the move. Agatha also received the following in 20x4:

Support Payment from her former spouse ** 26,000

Inheritance 25,000

Scholarship for part-time tuition in a qualifying education 25,000

program (used to cover her tuition)

RRSP withdrawal (not withdrawn under the Lifelong Learning Plan or Home Buyer's Plan) 15,000

Lottery winnings 15,000

**The support payments are in accordance with Agatha's divorce agreement, which calls for monthly support payments

of $1,500 for Agatha and $1,500 for her daughter.

Additional information, Assumed mileage rates:

New Location $.50 per km

Previous Location $.47 per km

Required: Determine Agathas minimum net income for tax purposes for 20X4 in accordance with the section 3 formula.

Show all calculations for moving expenses and identify any amounts to be carried forward.

Ignore the CPP enhanced deduction.

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