Carol Wong is the president and major shareholder of CW Ltd., a Canadian-controlled private corporation that operates a construction business in Regina, Saskatchewan. CW earns only business income which is all subject to the small business deduction. In 2019, she had a number of financial transactions. She has asked you to help her prepare her 2019 tax return and provide advice on other tax matters. The following additional financial information is provided:

1. Wongs 2019 gross salary was $90,000, from which CW Ltd. deducted the following amounts: Income tax $30,000 ; CPP and EI premiums 3609 ; Private health insurance premiums 600; Group sickness and accident insurance premiums 400. In addition to her salary, CW Ltd. paid $2,000 to a deferred profit-sharing plan, $600 of private health insurance premiums, and $400 of group sickness and accident insurance premiums on Wongs behalf.

2. Wong is required to use her own automobile for company business. For this, CW Ltd. pays her an annual allowance of $3,600. In 2019, Wong incurred automobile operating costs of $5,200. Also, in 2019, she purchased a new automobile for $33,900 plus HST(13%), and received $18,000 as a trade on her old car. At the end of the previous year, the old car had an undepreciated capital cost allowance balance of $15,000 (class 10.1). Of the 20,000 kilometres driven in 2019, 12,000 were for employment purposes.

3.For three months in 2019, Wong was sick and could not attend work. She received $9,000 from the companys group sickness and accident insurance plan. Since the plans inception, Wong had paid premiums totalling $2,000.

4.During 2019, Wong purchased a warehouse property and leased it to CW Ltd. to store construction equipment. The property cost $250,000 (land 30,000, building 220,000). The building was constructed after March 18, 2007. The price for the land includes $2,000 of permanent landscaping completed just after acquisition. The 2019 rental income is summarized below. Rent received $20,000 Expenses: Insurance $1,200 Property taxes $4,000 Interest 10,000 Repairs: General maintenance 800 Storage shed addition $3,000 ($19,000) Income $1,000

5. Wong is a 30% partner in a computer software business but is not active in its management. The partnership financial statement shows a profit of $40,000 for the year ended December 31, 2019. The profit consists of $32,000 from software sales and $8,000 from interest earned.

6. On July 1, 2018, Wong purchased a three-year guaranteed investment certificate for $20,000 with interest at 10%. The interest compounds annually but is not payable until July 1, 2021.

7.Wong received (made) the following additional receipts (disbursements) in 2019: Receipts: Dividends (Eligible) from Canadian public corporations $2,000 Dividends (Non-eligible) from CW Ltd. 3,000 Dividends from foreign corporations (net of 10% foreign tax) 900 Winnings from a provincial lottery 12,000 Disbursements: Contribution to RRSP (within allowable limits) 10,000 Dental expenses for children 3,500 Donation to a charity 2,000 Safety deposit box 100 Life insurance premium used as collateral for personal bank loan 800 Investment counsel fees 1,000

Required: Determine Wongs minimum net income for tax purposes in accordance with the aggregating formula of section 3 of the Income Tax Act.