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please guide on this question Question 5 ABC Inc. decided to acquire an automobile for a recently hired salesperson. ABC received a quote from an

please guide on this question

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Question 5 ABC Inc. decided to acquire an automobile for a recently hired salesperson. ABC received a quote from an auto dealer for both a purchase and a lease of the auto. The salesperson will be permised to use the car for personal use as well as for employment. In deciding between the lease and a purchase option. ABC felt it would be useful to determine the tax implications to the employee for each alternative. A purchase of the auto would cost $31,500. A lease of the same vehicle would cost $440 per month for 48 months with $20 of that payment relating to insurance. Annual operating costs are estimated to be $6,000 under either option. It is estimated that the auto will be driven 20,000km annually of which between 9,000km and 11,000km would be for employment purposes. The employee will use the auto for personal use throughout the entire year. It is anticipated that a new auto will be acquired every four years. Calculate the annual taxable beneNt to the employee from the personal use of the auto for each acquisition alternative.Question 4 Justin works for Triple T ftanufacturing Corporation ("TTT") and, as part of their compensation program, the company provides all employees with stock options. Justin was granted his options to purchase 500 shares of TTT at a price of $8ffishare on ftarch 1, 2011. He chose to exercise all of the options the following year, on April 15, 2012. The stock has done well and Justin decided to realize some of his gains in June 2015 when he sold 250 of the shares. The fair market value of TTT shares is as follows: ftarch 2011 $6ffishare April 2012 $9ffishare June 2015 $13ffishare Calculate the effect on Justin's NITP and Taxable Income for 2011, 2012, and 2015 assuming a) TTT is a Canadian public company b) TTT is a CCPC TTT is a CCPC and the market value of the shares in ftarch 2011 was $13ffishareCase B Jennifer Li is resident of Hong fong and non-resident in Canada. She has a number of business and property interests in Canada, and understands that she is taxable under 2(3)(c) if she disposes of a taxable Canadian property at any time in the year. She is not clear on what is included in taxable Canadian property, and is wondering whether it includes a Canadian resource property. Citing one relevant authority, respond to Jennifer.Case C ftaShew is calculating his Net Income for Tax Purposes and is wondering whether the net gain he earned when he sold a rare stamp this year would have to be included in his income under 3(b) (i) (B). Citing your authority, advise ftaShew.Question 2 Required: Using the Income Tax Act, and providing relevant citations, respond to each of the Independent scenarios: Case A its. W has been awarded the Nobel prize for science, which she thinks may be non-taxable, but she is confused by the wording of 56(1)(n) which she thinks is the relevant provision. Provide a citation that together with 56(1)(n) provides the authority on whather or not tha Mahal Drive is taxable

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