Lauren McMann is an advanced mountaineer and outdoor adventure specialist. In $2023,$ a headhunting firm connected her with Whitehorse Expeditions Ltd$.($WEL$)$ a public Canadian company. $$WEL was looked for another person to join their expanding company.

Other information relevant to $2023$ is as follows:

Answer Supporting Calculations

$1$ Lauren put her house on the market on January $5,2023,$ and at the urging of the listing agent, she accepted an offer resulting in a loss on this property. WEL agreed to compensate her for any loss on the sale of her home. $$The payment was made on May $30,2023.$

Proceeds on sale of home $340,400$

Original cost of home $383,500$

Gain $($loss$)(43,100)$

$2$ In order to help Lauren with the purchase of her new townhouse, WEL provided her with a $$150,000,0\mathrm{.}5\%$ housing loan. $$The funds are provided to Lauren on March $1,2023.$Assume that the prescribed rate for all of $2023$ is $1$ percent.

Use the number months to calculate the low interest loan benefit.

$4$ During $2023,$ Lauren earned a salary of $$105,000$ as well as commissions of $$8,000.$ The Company withheld the following amounts from her salary: Salary $($if taxable$)$

Commission $($if taxable$)$

Income Taxes $33,600$

CPP $3,754$

EI $1,002$

Disability insurance premiums $1,000$

Registered Pension Plan $($RPP$)$ Contributions $3,368$

$5$ WEL contributed $$4,100$ on Lauren$$s behalf to the Company$$s RPP$.$

$6$ WEL provides group medical coverage to all of its employees. $$The public health plan premiums paid by WEL on Lauren$$s behalf cost $$480$ for the year.

$7$ During the year, Lauren received two non$-$cash gifts from WEL, a season ski pass worth $$1,000$ and a Christmas gift certificate to a local spa for $$375.$

Record the gifts separately, if taxable, on the two lines provided.

$8$ WEL provides life insurance coverage to all of its employees. $$The premiums paid by WEL on Lauren$$s behalf cost $$900$ for the year.

$9$ Lauren was granted options to buy $60$ of the company$$s shares at $$10$ per share when she joined the staff of WEL. $$At that time, the shares had an assessed fair market value of $$12$ per share. On May $10,2023,$ the shares are trading at $$15$ per share. $$She acquires $60$ shares on that date and is still holding these shares on December $31.$

$10$ Lauren is a part of the Canadian Mountaineers Association, and paid professional dues of $$380$ for $2023.$

$11$ Due to a dog sledding accident Lauren breaks her collar bone and was off work for three months during $2023.$ She received a total of $$6,100$ in payments from the disability insurance company during this period. The premiums are $$1,200/$year and a $$1,000$ was withheld from Laura's pay. This is the first year she has been in the plan.

Show the disability benefit, and premiums separately $($if applicable$).$

For the auto benefit enter each calculation separately into column F$.$ Leave a row blank if not required. Do not total your auto benefit

$12$ WEL provides Lauren with a vehicle that she uses to drive her clients on tours. $$The vehicle was used by Lauren throughout $2023,$ aside form the three months she was off work. WEL required her to return the car and keys. $$WEL pays all operating and maintenance costs, a total of $$2,300$ during the year. Details of the vehicle and kilometers driven are below.

Total km drive $31,500$

Personal km driven $12,600$

Cost of car $($including GST and PST$)46,000$

Standby charge $($reduced$,$ if applicable$)$ plus

Operating cost benefit, which is the lesser of:

$1/2$ of reduced standby charge:

Or $$0\mathrm{.}33/$km x personal km

Other $-$ Indicate in column G

$13$ Lauren has renovated in order to have a separate area in her townhouse to be used exclusively to signing the contracts and meeting with clients. $$WEL will provide her with a signed form T$2200$ stating that she is required to pay for certain employment expenses without reimbursement and use a portion of her home for work. $$She used this work space between February $1$ and December $31,2023.$

If a deduction is not allowed, leave blank

Work space related expenditures are as follows: Show the deductions as negative. Multiply the total at the end.

The amounts provided are for the totals for the $11$ months.

Mortgage Interest $8,965$

Utilities $2,024$

Home Insurance $1,716$

Property Tax $5,220$

Office Furniture $7,469$

Total

$\%$ square footage $25\%$

Total Deduction

Required: Determine Lauren$$s employment income for $2023.$ Employment income