In order to induce May to move from Calgary to Winnipeg her employer offers her a $25,000 loan. She receives the loan on April 1, 2019 and the loan is to be repaid at the end of three years. She is not required to pay any interest on the loan and the prescribed rate is 5%. She figures she can double her money on-line trading in those three years so she uses $10,000 to buy new furniture and invests $15,000 in the company's shares. Required: For 2020, what are the tax consequences on the loan and the use she makes of the loan? Show your calculations, In order to induce May to move from Calgary to Winnipeg her employer offers her a $25,000 loan. She receives the loan on April 1, 2019 and the loan is to be repaid at the end of three years. She is not required to pay any interest on the loan and the prescribed rate is 5%. She figures she can double her money on-line trading in those three years so she uses $10,000 to buy new furniture and invests $15,000 in the company's shares. Required: For 2020, what are the tax consequences on the loan and the use she makes of the loan? Show your calculations