James Doode decided to start his own business in 2019 after retiring from the Canadian Armed Forces. Upon retirement in 2018, James elected to receive immediate monthly pension payments from his former employer's pension plan. James business consists of a motorcycle shop known as James Specialty Bike Shop, selling and repairing motorcycles (industry code 441220). James proudly specializes in customizing motorcycles to very exclusive clients. James hired you to prepare his personal tax return for the year 2020, as well as for his common-law partner, Susan Bond. James and Susan want to pay the very least tax possible. They will use any election or choice legally available to them to achieve that objective. James' income is mainly from his pension and personal business, while Susan's income is mainly from her salary as bookkeeper for James' business. Attached is an Appendix showing the relevant financial information pulled from the accounting records for James' business. The amounts shown have not been adjusted for tax purposes. James expects you to identify which items are allowed for tax purposes to comply with the tax laws in Canada. James and Susan have other income from their investments and rental property. Below is the information needed to prepare their tax returns. Tax forms James and Susan received are included on the Case Study link as separate documents confirming the various items of income earned for the year. Detailed Information: James was born on November 1, 1970. He is divorced but currently lives with Susan Bond, his common-law partner, at 123 Main Street, Anytown, Ontario, K0H 1H0. Both have been living together for several years now. James Social Insurance Number (SIN) is 527-000-145. Susans SIN is 130-692-544. Susan was born on December 2, 1970 and has been blind since birth but still manages to work as a bookkeeper for James business - see separate T4 slip attached issued to Susan for 2020 and financial information for James' business in the Appendix below. Susan also has income from joint investments with James - see further below. During 2020, James received bi-weekly pension payments from his former employer's pension plan for a total pension income of $50,000 - see T4A slip attached issued to James for 2020 (box 16). Federal income tax of $8,000 was withheld at source on that pension income - see box 22 of the T4A slip. James has spousal support obligations from his previous marriage. He is required to pay $1,000 per month to his former spouse (Mary Doode; SIN: 527- 000-129) in accordance with a court order. During the year 2020, James was only able to pay 3 months worth of support. James and Susan have no children but James' older brother Rick lives with them on a permanent basis sin