Example of Epic Proportions Twenty-five years ago Ronaldo, an accomplished cyclist, purchased a small custom carbon fiber wheel builder Zircles Inc. He applied their expertise in carbon fiber to other bike components and transitioned the company to an OEM supplier. He sold the operating company last year for $5 million and retained the real estate which is held in a holding company. Zquares Co. ("ZC"), which is CCPC. You are presented with the following financial information and asked to calculate his tax liability for 2022. Ronaldo wants to minimize tax payable and will utilize any deductions and/or credits permitted. Zquares Inc. Management salary . Dividends . Capital Dividends Interbike Trade Show Gym membership Use of Range Rover Market value MSRP $ 50,000 $ 90,000 Paid from LRIP pool Paid from Share Capital With spouse, in Hawaii Annual personal KMs Annual work KMS $ 100,000 55555 $ 50,000 20,000 10,000 1,000 15,000 25,000 Investments Non-registered investment portfolio Interest Public company dividends from Canadian stocks Public company dividends from American stocks in CAD Capital Gains TFSA Interest Public company dividends from Canadian stocks Public company dividends from American stocks in CAD Rental property in Kelowna Office unit rentals. ACB $1,900,000, UCC $1,700,000. Rental revenue Property manager Utilities. . Property tax SSSS $ 11,000 $ 22,000 $ 44,000 $ 40,000 SSS $ 3,000 5,000 $ 7,000 $ 24,000 $ 2,000 $ 3,000 $ 4,000 Ancillary Information Spousal support payments Child support payments WCB compensation benefit received Unused RRSP contribution room and deductions Charitable donation by Ronaldo Charitable donation by Sara 555 SSS $ 36,000 $ 18,000 $ 10,000 nil $ 5,000 Net Capital Loss from 2007 $ 5,000 $ (75,000) $ 3,500 $ 4,500 6,500 In 2022 the family was rear ended in a car accident and had the following medical expenses: o Sara Physio o Clara (14 year old daughter) Medicine and Physio o Ronaldo Medicine and Physio