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Olin Packett is a CGA-CPA and is employed by a Canadian private corporation.For 2020, his gross salary was $75,000 and thefollowing amounts were withheld from

Olin Packett is a CGA-CPA and is employed by a Canadian private corporation.For 2020, his gross salary was $75,000 and thefollowing amounts were withheld from his gross salary:

Federal IncomeTax$25,000

Employment Insurance Premiums856

CanadaPension PlanContributions2,732

Registered Pension PlanContributions5,000

Charitable contributions (Centraide)1,000

For 2020 Olin also had the following taxable benefits added to his T4:

Automobile Benefit$17,900

Housing Benefit$36,000

Finally, for 2020 Olin also paid for the following revenues and expenses which were not reimbursed by his employer:

Revenues:

Taxable Capital Gain on sale of shares$50,000

Expenses:

Tuition fees for a business managementcourse($2,500)

Professional dues paid to CPAassociation($1,600)

Premiums paid on life insurancepolicy($1,720)

Spousal support paid during the year($24,000)

What is Olin's Net Employment Income for the year 2020?

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