Read the below scenario and provide your answer on the attached spreadsheet link (Olin Packett Answer Sheet). Olin Packett has been employed for over 10 years by a large Canadian public corporation. He works in their Victoria office. For the 2021 year, his gross salary is $75,000. commissions, he was awarded a bonus of $15,000 during 2021 based on his sales While he does not receive performance One-half of this is paid in December 2021, with the balance to be paid in February, 2022. During 2021, Olin's employer withheld the following amounts from his gross wages: Federal Income Tax $14,350 Employment Insurance Premiums 890 Canada Pension Plan Contributions 2,876 Registered Pension Plan Contributions 3.100 Donations to The United Way 750 Union Dues 275 Premiums for Group Life Insurance Policy 423 Other Information: Olin is provided with a car that the company leases at a rate of $723 per month, which already includes GST and PST. The company pays for all of the operating costs of the car and these amounted to $1.200 during 2021 Olin drove the car a u per share 2 years ago. MARTFON Rock at a shares were trading at $29.50 per share. Thase options were exercised by Cin on On the date the options wers granted, the February 16, 2021 when the shares were trading at $34.75 per share. On does not plan to sell the shares for at least 2 years. In order to assist Olin in acquiring a new residence in Victoria, his employer granted him a three-year, interest free loan of $175,000. The loan was granted on July 1. 2021 and, at this point in time, the interest rate on open five-year mortgages was 4.5 percent. Assume the relevant prescribed rate was 2 percent on this date. Olin purchases a house for $327,000 on October 2, 2021. On his birthday, Olin received several gifts including a hoverboard and drone. In his enthusiasm for his new toys, he flew the drone over his neighbor's swimming pool while maneuvering the hoverboard on the sidewalk in front of the two homes to watch it. The result was a concussion, a broken leg, a shattered wrist and a drowned drone. He was unable to work for a period of two months. As his employer provides disability insurance coverage, he received benefit during this period totaling $8,500. All of the premiums for this insurance plan are paid for by the employer and totaled $560 for 2021. The plan provides periodic benefits that compensate for lost employment income. i Olin's employer made a matching payment to the group life insurance policy. The premiums for 2021 on his behalf totalled $423. Once finished, press the yellow button "CLICK HERE TO SAVE YOUR WORK" in the spreadsheet and then paste the resulting URL in the answer field below Read the below scenario and provide your answer on the attached spreadsheet link (Olin Packett Answer Sheet). Olin Packett has been employed for over 10 years by a large Canadian public corporation. He works in their Victoria office. For the 2021 year, his gross salary is $75,000. commissions, he was awarded a bonus of $15,000 during 2021 based on his sales While he does not receive performance One-half of this is paid in December 2021, with the balance to be paid in February, 2022. During 2021, Olin's employer withheld the following amounts from his gross wages: Federal Income Tax $14,350 Employment Insurance Premiums 890 Canada Pension Plan Contributions 2,876 Registered Pension Plan Contributions 3.100 Donations to The United Way 750 Union Dues 275 Premiums for Group Life Insurance Policy 423 Other Information: Olin is provided with a car that the company leases at a rate of $723 per month, which already includes GST and PST. The company pays for all of the operating costs of the car and these amounted to $1.200 during 2021 Olin drove the car a u per share 2 years ago. MARTFON Rock at a shares were trading at $29.50 per share. Thase options were exercised by Cin on On the date the options wers granted, the February 16, 2021 when the shares were trading at $34.75 per share. On does not plan to sell the shares for at least 2 years. In order to assist Olin in acquiring a new residence in Victoria, his employer granted him a three-year, interest free loan of $175,000. The loan was granted on July 1. 2021 and, at this point in time, the interest rate on open five-year mortgages was 4.5 percent. Assume the relevant prescribed rate was 2 percent on this date. Olin purchases a house for $327,000 on October 2, 2021. On his birthday, Olin received several gifts including a hoverboard and drone. In his enthusiasm for his new toys, he flew the drone over his neighbor's swimming pool while maneuvering the hoverboard on the sidewalk in front of the two homes to watch it. The result was a concussion, a broken leg, a shattered wrist and a drowned drone. He was unable to work for a period of two months. As his employer provides disability insurance coverage, he received benefit during this period totaling $8,500. All of the premiums for this insurance plan are paid for by the employer and totaled $560 for 2021. The plan provides periodic benefits that compensate for lost employment income. i Olin's employer made a matching payment to the group life insurance policy. The premiums for 2021 on his behalf totalled $423. Once finished, press the yellow button "CLICK HERE TO SAVE YOUR WORK" in the spreadsheet and then paste the resulting URL in the answer field below