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For the past 5 years, Mr. Brooks has been employed as a nancial analyst by a large Canadian public rm located in Winnipeg. During 2019,

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For the past 5 years, Mr. Brooks has been employed as a nancial analyst by a large Canadian public rm located in Winnipeg. During 2019, his basic gross salary amounts to $63,000. In addition, he was awarded an $11,000 bonus based on the performance of his division. Of the total bonus, $6,500 was paid in 2019 and the remainder is to be paid on January 15, 2020. During 2019, Mr. Brooks' employer withheld the following amounts 'om his gross wages: Federal Income Tax $3,000 Employment Insurance Premiums 860 Canada Pension Plan Contributions 2,749 Registered Pension Plan Contributions 2,800 Donations $0,The United Way 480 Union Dues 240 Payments EopPersonal Use Of Company Car 1,000 Other Information: 1. Due to an airplane accident while ying back 'om Thunder Bay on business, Nlr. Brooks was serioust injured and conned to a hospital for two full months during 2019. As his employer provides complete group disability insurance coverage, he received a total of $4,200 in payments during this period. All of the premiums for this insurance plan are paid by the employer. The plan provides periodic benets that compensate for lost employment income. Mr. Brooks is provided with a car that the company leases at a rate of $678 per month, including both GST and PST. The company pays for all of the operating costs of the car and these amounted to $3,500 during 2019. Mr. Brooks drove the car a total of 35,000 kilometers during 2019, 30,000 kilometers of which were carefully documented as employment related travel. While he was in the hospital (see Item 1), his employer required that the car be retumed to company premises. On January 15, 2018, Mr. Brooks received options to buy 200 shares of his employer's common stock at a price of $23 per share. At this time, the shares were trading at $20 per share. Mr. Brooks exercised these options on July 6, 2019, when the shares were trading at $28 per share. He does not plan to sell the shares for at least a year. In order to assist Mr. Brooks in acquiring a new personal residence in Winnipeg, his employer granted him a ve year, interest free loan of $125,000. The loan was granted on October 1, 2019 and, at this point in time, the interest rate on open ve year mortgages was 5 percent. Assume the prescribed rate was 2 percent on this date and remained unchanged during the year. Mr. Brooks purchases a house for $235,000 on October 2, 2019. He has not owned a home during any of the preceding four years. Other disbursements made by Mr. Brooks include the following: Advanced nancial accounting course tuition fees $1,200 Music history course tuition fees {University of Manitoba Wmive course) 600 Fees paid to nancial planner 300 Payment of premiums on life insurance 642 Mr. Brooks' employer reimbursed him for the tuition fees for the accounting course, but not the music course. The reimbursement was not included on his T4. Mr. Brooks is a widower. His wife was killed in a car accident 2 years ago that injured his Wson, Harold, so badly that he qualies for the disability tax credit. Harold has no Net Income for the year. 7. Mr. Brooks' mother, Grace, lives with Mr. Brooks and cares for Harold. Grace is 157 years old and her Net Income Engax Purposes is $7,500. Grace refused to take any payments for caring for Harold as she received a large inheritance in the previous year. As a result, Mr. Brooks did not pay any child care or attendant costs for Harold. 8. Mr. Brooks paid the following eligible medical costs: For Himself $ 9,300 For Harold 2,450 For Grace 1,265 Tot 13,015 Required: Calculate, for the 2019 taxation year, Mr. Brooks' minimum Taxable Income and federal Tax Payable {Refund}

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