Hi Guys i need BIG help about this question, i have 1 hour to finish:

Mr. Donald Crump is preparing his 2022 tax return and having learned that you had taken the Taxation course at George Brown College, he has come to you for some assistance in computing his income from various sources, deductions, Federal Tax Credit and Federal Tax. Donald age 56 years old and Melanie age 42 have been married for 6 years..Donald fathered a child from his previous marriage to Eva, son Tom age 15 who lives with Eva .

Melanie also has 2 children from her previous marriage, son Apollo 17 and daughter Athena age 19. Melanie has custody and both children live with them and are dependant and supported by both (Donald &Melanie). Melanie, receives child support of $24,000 for Apollo and Athena.

You are provided with the following information:

Mr. Crump is employed by Crown Enterprises Limited (CEL) a large Canadian public corporation as vice president of Operations.

During 2022, Donald received a gross annual salary of 202,000 ($62,000 from Victoria BC office and $ 140,000 from Toronto office).

Donalds employer withheld the following amounts from her 2022 remuneration:

EI Premiums $ 953

CPP Contributions 3,500

RPP Contributions- 6,500

Group Term Life Insurance Premiums 540

United Way Donation 2,000

Income Tax Withheld (Fed.+Prov) 44,900

OTHER EMPLOYMENT INFORMATION:

i) During 2022,Don pays dues to his professional association(recognized by statute)of $305.

ii) CEL paid the following amounts on behalf of Donald:

Registered Pension Plan ( a matching contribution of) $ 6,500

Group Term Life Insurance ( a matching contribution of) $ 540

Group sickness/ Accident/Disability insurance Plan (100%) Sun Life $ 2,500

Private Health Plan Premiums (100%) $ 910

iii) On May1, 2022, Donald received an interest free loan from CEL, in the amount of

$120,000 to assist in the financing of a new home, as he was relocated (by his

employer ) from Victoria B.C. to Toronto Ontario. The agreement requires that the

$120,000 owing be repaid over 4 years in equal payments of $ 30,000 on each

anniversary date.

CRA Prescribed 2022 rates for first and second quarters in1% ,third and fourth 2%.

iv) Donald incurred moving expenses, qualifying as allowable deduction for tax purposes,

in the amount of $29,900. CEL reimbursed the full amount of $ 29,900.

V) Donald under his contract of employment is required: to carry on the duties of

employment away from the employers place of business, to pay all expenses and was

not in receipt of a reasonable allowance.. Donalds employer has signed a T2200 form

certifying this requirement. Mr. Crump incurred the following employment related

expenses during 2022 (All Reasonable): Meal $1,800 (while away municipality;>12hrs)

+ Accommodation $5,800 + Airline Tickets/Travel $5,500 + Entertainment $3,900

=Total Expenses $ 17,000.

VI) Donald received options to buy 19,000 shares of his employers(CEL) common stock

at a price of $3.00 per share on August 2, 2021. At this time the shares were trading at

$3.00 per share. Donald exercised these options on February 10, 2022 , when the shares

were trading at $4.00 per share. Mr. Crump, sold 2,000 of the 19,000 shares on

December 15, 2022 for $5 per share. Donald did not own any other shares of CEL.,

other than the ones acquired.

INVESTMENT INFORMATION

VII) Early 2022, Donald took out a bank loan in the amount of $ 50,000 at 4% per

annum. The 2022 interest paid on this loan was $ 1,323. He immediately invested the

funds in shares of Taxable Canadian Controlled Private Corporation; shares in a Taxable

Canadian (Public)corporation; shares in a Foreign Public Corporation.

The 2022 results for his investments are as follows:

a) CCPC- as one of the shareholders in in his brothers CCPC -Bro Ltd. ( successful

company) Donald, received a non-eligible dividend of $ 300. In addition, he received

a Capital Dividend of $20,000 from Bro Ltd. (election made under 83(2) ITA).

b) Taxable Canadian Public Corporation received an eligible dividend of $ 500 from

holdings in this public company.

c) Foreign Public Company- Preferred Shares in 2022 Donald purchased 500

common shares of a US Public Company. During 2022 these common shares paid a

dividend of $270 (Cdn funds) net of withholding tax . The US government withheld

10% - $30 (Cdn funds.)

viii) Mr. Crump invested $10,000 in a GIC- (debt instrument) investment contract) on

July1,2021. It has a 5% three year (mature on June 30, 2025), quarterly compound

interest. The terms of the instrument call for payment of interest to be paid at the

maturity date of the instrument. Interest accruing on the GIC has been

as follows: July 1,2021 to September 30,2021 $ 127

October 1,2021 to December 31,2021 $ 129

January 1,2022 to March 31,2022 $ 135

April 1,2022 to June 30,2022 $ 141

July 1,2022 to September 30, 2022 $ 144

October 1,2022 to December 31,2022 $ 147

ix) Donald, owns 500 shares of StormLtd. The ACB is $24 per share ($12,000).On

December 15, 2021, Mr. Donald sold all of these shares at $17.50 per share ($8,750).

Realizing that he erred on January 7,2022 ,Don acquired 500 of the same shares of

Storm Ltd. At a cost of $16.75per share(8,375). On March 17,2022, he sold the 500

shares @ 23.75 per share ($11,875).