1. InaWoddocument,a one-page clientsummarysection (memo) presentingthe mainissues relatedto thetax results,includingtheidentificationofanddiscussionabout,thedetermination ofthe various sources ofincome.You will needtox

-Thisiswhereyouareexpectedto demonstrateyourunderstandingofthe moreimportantpersonaltaxprovisionsthatyoufeel mayimpactyourclientthe most.ClientInfomation

In2023,RashmikaMandaisemployedbyGloriousGardensIllustratedLtd(GGI),a Canadian controlledprivatecorporation.ShewasrecentlypromotedfromAssociateEditortoEditorinChief,apromotionsheworkedveryhardforoverthe pastthreeyears.Rashmika hasrequested your assistanceinpreparingher 2023incometaxreturnandyouradviceon certainothertaxmatters.

InformationregardingRashmika'sfinancialactivitiesfor2023isoutlinedinExhibit3-1.Selected

informationfromher2022taxreturnisprovidedinExhibit3-2.

Exhibit3-1 RashmikaManda

2023FinancialInformation

1. In2023,Rashmikareceivedasalaryof$150,000.Fromherincome,GGIdeductedincometax of$33,000,$3,754ofCPP,and$1,002ofEl.GGIcontributed$700asRashmika'spremium on a supplementaryunemployment insurance planand paid $1,000totheProfessionalWriter'sAssociationofCanadaforRamshika'sprofessionalduesthatrelatetomaintainingherprofessionalstatus,whichisa conditionofher employment.Thecompanyalsocontributed

$5,000toitsregisteredpensionplanon Rashmika's behalf,and Rashmikamadeamatchingcontribution of$5,000.GGIalso providesRamshikawith$500,000inlifeinsurancecoverage,aswell asa supplementalaccidentandsicknessinsuranceplan. The 2023costtoGGIforthelifeinsurancecoveragewas$675, whilethecostfortheaccidentandsicknessplanwas$472.Theaccidentand sicknessplan wouldpaycashbenefitsduetoinjuryorillness, butitwould notpayperiodicbenefitstoreplacesalaryifRamshikawere unabletowork.Ramshikadoesnotcontributetothepaymentsfortheaccidentand sicknessplan.

1. Much ofRamshika'semploymentinvolvesremoteworkand isrequiredbyheremployertomaintainan office inherhome.This homeofficeoccupies18%ofthe spaceinherresidenceandis viewedasherprincipalplaceofbusiness/employment.The2023expensesassociated withthisresidence are asfollows:

Electricity	$4,680
Municipalpropertytax	19,200
Mortgageinterest	12,000
Insurance	3,450
Repairstoroof	4,970
Lawnmaintenance	863
Snowremoval	647

Total

1. Ramshikadoesanextensiveamountoftravelwithlocationcrewsforstoryandfeaturephotoshootstogainmoreinsightaboutthestoriesandlocationsforeachpublication.Allthetravelisincurredwhile sheis awayfrom heremployer'sheadofficeforatleast24consecutivehours.According toheremploymentcontract,sheis required topayher owntravelexpenses.She receivesaflatratemonthlyallowanceof$1,000tocoverhertravelexpenses.Theactualtravel expenses for 2023 were asfollows:

Hotels	$4,200
Mealswhiletravelling	1,650
Airlinetickets	2,150

Inadditiontotheseexpenses, Ramshikausedherown automobile,whichshepurchasedmanyyears agofor someofthetravel.In2023,she drove 32,000kilometres, with 16,000 of theserelatedto hertravelforGGIandthe remaining16,000 forpersonal use.Operatingexpensesfortheyeartotalled $3,200.GGIhasadvisedher thatCCAon the automobilefortheyear (100%basis) wouldbe $4,500.Ramshikareceived noallowancefortheuseofherautomobile.

1. Throughout their marriage, theManda'shave always livedintheircondominium,buttheydecidetopurchase afour-bedroombungalowinthesameneighbourhoodfor$672,000 onJuly1, 2023.Onthisdate,GGIprovides Ramshika with a $250,000interest-freeloan thatwillfacilitatethepurchase. However,thebalancemustbe paidinfullonJuly1, 2028.Assumethattheprescribedinterestrateis1%throughout2023. Rashmika andherhusbanddecidedtokeep the condominiumandrentitin 2023.Theirhopeistohave theirdaughterlivetherewhile sheattendsunivesityinafewyears.Theypurchasedthepropertyin2005atacostof

$120,000.In2023,theyreceived$15,000asrentandpaidthefollowingexpenses:

- Propertymanagementfee	$3,000
- propertytax	$2,000
- stratafees	$5,000
- repairsandmaintenance	$3,000

1. GGIgranted Ramshika anoptiontopurchase1,200sharesof its stock ataprice of$37/shareinFebruary2021.Atthetimethe options weregranted, theFMVoftheshares was$40 each.In July2022,whentheshares weretradingat$45/share,Ramshika exercised allthe options.In 2023,Ramshika transferred ownershipofthe sharestoher16-year-old daughter,Roma,so shecould save any future dividendincomeforher futureuniversitytuition orsellthemfor aprofit.TheFMVof the shares atthistimegrewto$50/share.Romareceived a $2,000non-eligibledividendin2023 andshe continuestoown the shares as ofDecember31, 2023.

1. In2023,Rashmikahadthefollowingotherreceiptsanddisbursements:

• Inrecognitionof10yearsofcontinuous service,shereceivesa smartwatohwitha retailvalue of$1,200. Thisisthefirsttime shehasreceived an anniversarygift.
• AtChristmas all GGIemployeesreceiveagiftbasketcontaining gourmetfood items. Theretailvalue of this basketis $300.
• Legalfeetodefendlastyear'sincometaxreassessment$1,000.

1. Whilepacking tomovefromthe condotothebungalow, Rashmikafound someforgottenantiquejewelry.Shepurchaseditfor$900in2006andinOctober2023,solditonlinefor

$2,500.Shealsosoldanantiquevasefor$2,200,whichwaspurchasedfo$800in2005.

,8.RashmiikaismaririooandIiveswithherhusband.1116ear-olddaughter,andinfinmsisr(age 65,).H,e:rhusbandhademploymentincomeof$120",000in20:23;herdaughteworksa.part-Umejoband earned $7,500 in20.23;hesister had a netincomefurtaxp1Jrposes $,15,000.Rashmika,estimatesthat:she,spent$4,,700towadhersister'ssupport.In2023,Rashrnikapaid

$2,500fureligiblemedicale,xpenses,including$500forprnsciptioncontactlenses.

1. Rashmikaisana.ctiivemembeinhercommunltyandvoluntee1raasaeadingtutoratCentralcity Litera 'Rources(CCllR),aregisteedCa.nadianchait.ableolfiganization.Sheintumdonated $5,000 in2023tof1Jnd, inpart,an Iiteracyoutmachprogramfortocalpublic schools.
2. ilin2023,Rashmik.a.madeanRRSP,contribution $11,000.
3. Rashmika.r,eooivedadividendof$1,000fromtheactivebusinessinoomeofaCanadianpublic oomnyand an$1,8:00(netof$200 wiholdingtax)dividendfmm a U.S.company.Shepaid

$200toaninvestmentadvisoforadvicemgadingheRRSPinvestmnt.

1. Rashmika beg,an consultingwith her condominium Stra tocollabor:amonways,topriomot,eiraducingwa:steandupcyclingmateriaIsfromres!ident-s.Givenher!@iditoial,andliteraryexpertise,thestratavotedfoRashmikato reVliewaeportandsuppo ng promotional materials,thatoutlinedtheoptionsavaiIabletohecondominiumresidents.Ra.shmilkadidnot

want paymentfodoing thisbut therersidentsvotedtogive,herthreemonthsofstratateesinexcihangefur her servi,ces.

IExhibit3,--2

20122TaxReturmID-etaills

llist1e,dPe'sonalPrro;pertyLosses -Can:yforwardfrom2022NietCapital [losses-Camryfo:rwardfrom2,022

ReqistemdRe,tiementSavinqsPla

DedudionIimttrom piiousyear Noticeo-f(Re)Assessm,entMaXimumRRSPDeductionAlable

$1,000

$10,,,000

$110,,,000

$110,,,000