Q1

1. Joon-ho received a T3 for investment income from a mutual fund he held at Canadian Professional Chartered Bank. All information is included in the slips. 2. On February 12th, 2016, he received 11,000 shares of Andreicheva Ltd., a Canadian public corporation from his late mothers estate. The fair market value of these shares on the date of transfer was $5.00 per share and was considered Joon-hos ACB.

Joon-ho purchased another 3,000 shares on March 6th, 2017 at $5.50 a share and paid a brokerage fee of $15.00. On August 10th, 2019 he purchased another 4,000 shares at a price of $6.50 a share and paid a brokerage fee of $15.00. He sold 7,500 shares on October 15th, 2019 at $5.25 a share and paid a brokerage fee of $15.00.

Determine the capital gain generated upon disposition of these shares

Q2

Capital transactions information Contd 3. Joon-ho also had the following transactions in 2019: Proceeds on the sale of a sculpture (cost $3,500) $2,500 Proceeds on the sale of a rare first edition of The Art of the Moving Picture (cost $750) $2,175 Proceeds on the sale of an antique bottle of scotch he had purchased for $8,500 several years ago. $4,900 Determine whether there are any capital gains or losses on these dispositions

Q3

Other Deductions 1. Joon-ho paid the following amounts in 2019: Legal fees appealing 2015 CRA assessment $850 Taxes and interest on unsuccessful appeal above $10,340 2. Joon-hos 2018 earned income was $147,000 and his pension adjustment amount reported on his 2018 T4 was $4,900. He has included receipts for contributions to his RRSP along with the other attachments.

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