Family Information

Jamine Ramiz was $46$ years old. She was married to Raul Ramiz. Raul was $41$ years old and had $2022$ net income of $$5,650.$

The couple have two children:

Diego: Their son, Diego, was $15$ years old and had $2022$ net income of $$6,420.$

Isabella: Their daughter, Isabella was $20$ years old and had $2022$ net income of nil. She attended university on a full time basis for $8$ months of the year. Jamine paid all of Isabella's education costs, including $$10,200$ for tuition and $$2,200$ for textbooks and supplies. The daughter had agreed to transfer the maximum tuition credit to her mother.

The family's $2022$ medical expenses, all paid for by Jamine, were as follows:

Jamine $ $3,200$

Raul$*7,800$

Diego $2,450$

Isabella $7,235$

Total $$20,685$

$*$$$4,800$ was for hair transplants and the remaining $$3,000$ was for plastic surgery on his nose because of a collision with a tree while bike riding.

In $2022,$ Jamine made donations of $$2,150$ to a registered charity. In addition, she made donations to registered federal political parties in the amount of $$450.$

Employment Income

Jamine was employed by Dominion Steel, a large public company, in their human resources department. In $2022,$ her basic salary was $$143,000.$ In addition, she earned $$18,500$ in commissions. For the year, her employer withheld the following amounts from her income:

CPP Contributions $$3,500$

EI Premiums $953$

RPP Contributions$*4,200$

Union Dues $625$

Payments for Personal Use of a Company Car $1,800$

Federal & Provincial Income Taxes Withheld $50,000$

$*$In $2022,$ her employer made a matching contribution to her RPP of $$4,200.$

Dominion Steel provided Jamine with a car that was purchased in $2020$ for $$40,000.$ In the company's records, this Class $10\mathrm{.}1$ passenger vehicle had a January $1,2022$ UCC balance of $$17,850.$ In $2022,$ the car was available to Jamine for $10$ months of the year during which she drove it a total of $42,000$ kilometers. Of this total, $15,000$ kilometers were for personal use and $27,000$

for employment purposes. The company paid all of the operating costs, a total of $$7,560$ for the year.

Several years ago, Jamine was granted options to purchase $2,000$ shares of her employer's stock. The option price was $$25$ per share and, at the time the options were granted, the stock was trading at $$27$ per share. In March, of $2022,$ she exercised all the options. Currently, the shares are trading at $$32$ per share and, immediately after exercising the options, she sold $1,000$ of the shares at $$32$ per share. She was still holding the other $1,000$ shares at the end of the year when they were trading at $$20$ per share.

In recognition of her $10$ years of service with the company, Dominion Steel gave Jamine a $$600$ watch. In addition, all the company's employees were given a $$300$ gift certificate for online purchases at Amazon for Christmas.

Jamine was provided with a flat rate travel allowance of $$600$ per month to cover hotel and meal costs during employment related travel. Her actual travel costs for $2022$ were as follows:

Hotels $$4,200$

Meals $2,900$

It was the policy of Dominion Steel to reimburse tuition paid by employees when taking college or university courses. In $2022,$ Jamine received $$3,400$ in reimbursements for two courses:

$$ $$2,800$ was for a two$-$week course in negotiating skills, which was encouraged by her employer

$$ $$600$ was for a weekend course in music appreciation

Business Income

On January $1,2022,$ Jamine began to carry on a management consulting business that assisted people with making sales contacts. Information related to this business was as follows:

Office Space: Jamine rented space on the ground floor of the mixed use building in which she lived. She did not use the employer provided vehicle in her business. The rental agreement with the building's management company had a term of $3$ years and there were no options for renewal.

The office rent was $$750$ per month and, in order for the space to suit her needs, she made improvements at a cost of $$18,000.$

Revenues: In $2022,$ Jamine issued invoices for her services totaling $$63,450.$ In addition, she had unbilled work in progress of $$5,055.$ This amount was what was expected to become receivable with respect to the work that had been completed.

Capital Expenditures: In $2022,$ Jamine acquired office furniture and fixtures at a cost of $$16,300.$ In addition, she purchased a computer for $$1,230$ and application software for $$723.$

Business Expenses: In $2022,$ the following expenses were incurred:

Part Time employees $$6,340$

Office Supplies $623$

Web Hosting Fee

$($A simple web page for informational purposes only$)240$

Cell Phone Plan $($for business use only$)462$

Meals and entertainment with clients $($not billed to clients$)4,340$

Required: Calculate Jamine$$s $2022$ net income, taxable income, and her minimum federal income tax payable or refund. Ignore GST$/$HST and PST considerations and estimates of any amounts that were withheld for income