Eric Latefiler, age 39, has not filed his personal incometax returns since 2017. Assume you are his tax accountant.He has provided you with the following correctly calculated information:

2017 2018 2019

Employment income $14,000 $25,000 $165,000

Warehouse Rental income (loss) 5,000 (3,000) 5,000

Business income (loss) (32,000) 21,000 30,000

Capital gains (capital losses):

Listed personal property 6,000 (7,000) 4,000

Other personal-use property 6,000 (3,000) 2,000

Other capital items 5,000 13,000 (8,000)

Additional Information not incorporated in the calculation above

1) Losses carried forward from 2015:

Non-capital losses $20,000

Net capital losses $30,000

2) The 2019 capital loss of $8,000 includes a business investment loss of $3,000

3) Eric was separated from his spousein 2015 and has custody of their 10 year old daughter

pursuant to a court agreement.Court also ordered Eric to pay $7,000 maintenance

payment per year to his former spouse.Eric has been paying this since 2015.

4) In 2019 Eric paid$1,500 in legal fees to defend a tax re- assessment for 2016 year.

5) Eric paid $12,000 of child care fees to YMCA in 2019.He paid $0 for child care in 2017 and 2018.

6) In December 2019, Eric contributed $20,000 to to his RRSP.His RRSP limit for 2019 was $18,500.

7) In 2019, as Eric made more employment and business income, he donated $5,000 to a registered

Canadian charity and $1,000 to an American charity.

8) Eric purchased and moved into a condo in 2019.He never owned a home prior to 2019.

Required

[NOTE: YOU WILL NEED TO submit SOLUTION AND UPLOAD AS SCANNED PDF.TYPED RESPONSE WILL NOT BE ACCEPTED]

SHOW ALL YOUR CALCULATIONS

Part A [14 Marks]

Calculate Eric'staxable income for 2017, 2018 and 2019 years.. [Hint: You need to incorporate loss carry-back and loss carry forward rules under Division in computing taxable income]

Part B [12 Marks]

Calculate Eric's Federal net income tax liability for 2019 year only. [Do not spend time to calculate 2017 and 2018 net income tax liability]

Part C [2 Mark]

Eric wants to know the filing due date of his 2019 income tax return.

Part D [2 Mark]

Eric wants to understand(highlight 2 consequences) the consequenes of late filing his income tax returns.

Part E [6 MARKS]

Calculate Eric's RRSP limit for 2020.Assume his pension adjustment was always $0.Assume he has no contribution room remaining from prior years.

Part F [4 MARKS]

Eric wants to contribute $35,000 on April 25th 2020 towards his RRSP. Based on your calculation above, advice Eric the tax implications of contributing $35,000 to his RRSP.What other tax sheltered savings options are available to Eric?