Peter Weber is an accountant. Peter is 47 years old and is married to Claire who is 45 years old and blind. She has Net Income For Tax Purposes in 2020 of $9,000, all of which is interest on investments she inherited from her mother.

Peter and Claire have three children, a 15 year old daughter, Haley, a 19 year old son, Martin and another 22 year old son Sam. Both Haley and Martin live at home. Haley earned $800 during 2020 baby-sitting. Martin has a disability that is not severe enough for his doctor to sign off for the disability credit. Sam goes to College full-time in a different city. His net income for tax purposes is $15,000 and his total tuition costs for the year are $8,000. He is willing to transfer part of his tuition credit to his father, if it makes sense.

Peter and Claire had to hire a babysitter for Martin from time to time because of his disability and given that Claire was blind. The cost of babysitting was $1,500 during the school year. During the summer months, Martin went to a summer camps for 5 weeks at a cost of $1,000 per week.

Martin inherited $100,000 from his grandmother and invested the money. He then received $15,000 in interest income from them during 2020.

Peter's brother, Cameron, lives in the basement of Peter's Toronto home. Cameron is 50 years old and his only income for 2020 was EI benefit payments totaling $3,000. Peter also supports his 85 year old father, Jay, who is physically infirm and lives in a retirement home. Jay had Net Income For Tax Purposes of $9,000 for 2020. His income consisted investment income and payments from a registered pension plan.

Peter works for Codlin Company and was paid a salary of $140,000 in 2020. He also earned a bonus of $5,000 in 2020, with one-fifth of the bonus paid in 2020 and the balance payable in 2021.

During 2020 he received a briefcase worth $800 as an award for being the "employee of the year" and a Christmas basket from the company worth $600. All of the Company's employees received a similar basket.

Codlin transferred Peter from their Toronto office to their Vancouver office in 2020. On April 1, Peter moved his family out of the house they had rented in Toronto for the last 10 years and into a brand new house in Vancouver that cost $800,000. Although Jay was to stay at the retirement home in Toronto, Cameron moved with the family to Vancouver. The total eligible moving costs were $3,500. Peter was reimbursed by his employer for all of his moving costs except for $1,250.

To help finance the new house, Codlin Company lent Peter $500,000 on April 1 at 1 percent interest. Peter would have paid as much as 5 percent interest on a similar loan from the bank. Assume that the prescribed interest rates for 2020 was 2 percent for the entire year.

On January 1, Peter was offered a stock option entitling him to acquire 500 shares at a price of $38 per share. At the time the option was granted, the shares were trading at $39 per share. Peter exercised his option on May 1 and acquired all 500 at a time when the shares were trading at $44 per share. He sold all the shares on December 31^st at a price of $50 per share.

Codlin provides Peter with a company car. While he was at the Toronto office, he had a Toyota Highlander that the company leased for $875 per month ($50 of which was for insurance). The company paid $1,600 for the Highlander's other operating costs from January 1 to March 31. During that period, Peter drove the car 9,000 kilometers of which 6,000 kilometers were employment related. In Vancouver, Peter was not provided a company car.

During 2020, the following amounts were deducted from Peter's pay:

Federal Income Tax $8,500

CPP 2,898

EI 856

Group Life Insurance Premiums 600

Registered Pension Plan 1,200

United Way Donations 1,500

The company matched the life insurance and RPP amounts.

During 2020, Peter paid the following amounts of eligible medical expenses:

Himself $ 650

Claire 1,940

Haley 860

Martin 1,250

Cameron 480

Jay 990

Peter paid $900 for his 2020 professional association dues. Membership was required by his employer but they did not pay for them. Peter earned interest on his bank account during 2020 for $1,000. Claire made a $500 donation to their church during 2020.

Peter made contributions to the following during the year:

1. RRSP of $15,000 (he had lots of unused room).
2. TFSA of $10,000.
3. RESP (Registered Education Savings Plan) for $5,000 for Haley.

Required: Calculate Mr. Webers:

1. net employment income,
2. net income,
3. taxable income,
4. federal taxes payable before credits,
5. net federal taxes payable after credits.