Ms. Nancy Jones is a linguist, specializing in Asian languages. As the daughter of a Canadian diplomat, she has become familiar with the many customs and practices found throughout Asia. In 2020, a headhunting firm in B.C. connected her with Gold Mountain Experiences (GME), a public company, which had begun operations in Whistler, B.C. GME needed a representative to promote their Canadian services to Asian tour operators and executives.

When her mother moved to the United States in March 2020, Nancy Jones moved into her mothers house, located in Winnipeg. Her mother bought a condo in the United States in 2020, leaving Nancy Jones her Winnipeg house. When GME offered her a position in November 2020 with a start date of January 1, 2021, Nancy Jones accepted the job offer.

The fair market value of the mothers house was $ 525,000 on March 1, 2020. When Nancy Jones put the house on the market on November 15, 2020, the listing price was only $ 450,000. Nancy Jones accepted an offer for $ 390,000 in April 2021, resulting in a $ 135,000 loss on this property.

Other Information

Other information relevant to 2021 is as follows:

1.GME owned a hotel and offered Nancy Jones the use of a unit there, at a rate of $ 2,000 per month. The regular monthly rate for the unit was $ 5,000 per month. Nancy Jones moved in on January 1, 2021. Through contacts, Nancy Jones found a large townhouse in Whistler that she purchased on May 01, 2021, for $ 1,600,000. After doing extensive renovations, she moves out of the hotel and into her townhouse on July 1, 2021.

2. As an incentive to accept the position, GME agreed to compensate Nancy Jones for one-half of any loss on the sale of her Winnipeg home. The $ 67,500 (1/2 X $ 135,000) payment was made on April 30, 2021.

3. To help Nancy Jones with the purchase of her new townhouse, GME provided her with a $ 100,000 interest free housing loan. The funds were provided to Nancy Jones on May 1, 2021. Assume that the prescribed rate for all of 2021 is 2 percent.

4. During 2021, Nancy Jones earned a salary of $ 175,000. This included several large bonuses due to her exceptional sales ability. The Company withheld the following amounts from her salary:

Income Taxes	$53,000
CPP	3,166
EI	890
RPP Contributions	2,500
Payment For Personal Use of Automobile	1,200

5. GME contributed $ 2,500 on Nancy Joness behalf to the Companys RPP.

6. GME provides group medical coverage to all its employees. The private health plan premiums paid by GME on Nancy Joness behalf cost $ 1,115 for the year.

7. During 2021, Nancy Jones received two non-cash gifts from GME, a season ski pass worth $ 1,000 and a Christmas gift certificate redeemable at many restaurants in Whistler Village for $ 100.

8. Nancy Jones uncle died in December 2021. GME provided Nancy Jones with grief counseling services worth $ 665.

9. Nancy Jones purchased many day passes at Whistler for friends and families using GME's 15 percent corporate discount. A statement from GME stated that Nancy Jones had saved a total of $ 1,050 using the discount in 2021.

10. Nancy Jones was granted options to buy 100 of the company's shares at $ 100 per share when she joined the staff of GME. At that time, the shares were trading at $ 94 per share. On June 10, 2021, the shares were trading at $ 123 per share. She acquires 50 shares for cash of $ 5,000 on that date. She is still holding these shares on December 31.

11. GME provided Nancy Jones with a membership in the exclusive Blackcomb Ski Club and Spa. The cost of the annual membership was $ 5,000. Nancy Jones took her clients there for meals and drinks. GME paid all the charges on her account as they were related to potential clients of GME. For 2021, this amounted to $ 22,200.

12. GME provided Nancy Jones with a luxury vehicle that she used to drive her clients on tours and to and from the airport. It was purchased in late 2020 for $ 120,000, including GST and PST. The vehicle was used by Nancy Jones throughout 2021. During the year, she drove the vehicle a total of 102,000 kilometers, of which 90,000 were related to her employment duties. GME paid all operating and maintenance costs, a total of $ 23,000 during the year. GME withheld $ 1,200 from her December salary to pay for her personal use of the vehicle for 2021.

13. Nancy Jones demanding job requires her to meet with clients at all hours of the day and night because many of them were on international flights. GME provided her with a signed form T2200 stating that she was required to pay for certain employment expenses without reimbursement and use a portion of her home for work.

Nancy Jones had renovated her townhouse in order to have a separate area to be used exclusively to entertain her clients, in addition to signing the contracts. She had no receipts for the renovations she did. She was unable to find a contractor who would invoice and accept cheques. Since she needed the work finished quickly, Nancy Jones reluctantly paid $ 30,000 cash. She used this workspace between July 1 and December 31, 2021. This workspace occupied 600 square feet of the 2,222 square feet available in her townhouse.

Workspace related expenditures were as follows:

Monthly Maintenance Fee (For 6 Months)	$5,400
Hydro (For 6 Months)	450
Property Insurance (6 Months)	575
Property Tax (6 months)	2,600
Big screen TV used solely for the entertainment of clients (promotional videos, ski races, etc.)	2,600
Office Furniture	5,600
Furniture for clients entertainment area	12,400

14. Nancy Jones received an allowance of $ 400 per month for 6 months to cover the costs of maintaining a workspace in her home.

Required

Determine Nancy Jones net employment income for 2021.

I need explanation of each point if adding or deducting from the employment income then why or why not.