Remaining Time 1 hour. 48 minutes, 00 seconds Question completion Status: Ms. Christine LeFontaine has worked for Giant Distributors Inc., a Canadian-controlled corporation, for a number of years. It supplies consumer packaged goods to leading retailers in Ontatio, Quebec and Alberta. Her salary for the year 2020 was $150,000. Giant Distributors withheld the following amounts from her earnings Federal and provincial income tax $33,000 El premiums 856 CPP contributions 3,085 Private Medical and Dental Plan Employee portion) 1,100 Union Dues 240 Other information 1. A company-leased vehicle is made available to Christine for 12 months at a rate of $750 per month, including HST. The $750 includes a monthly insurance payment of $75 per month. The car was available to Christine throughout 2020. During this period, she droved a total of 79,000 Idiometers, 7,000 meters of which were for personal use. 2. Christine received options to acquire 1,000 of her employer's common shares at an option price of $25 per share. At this time, the common shares are trading at $25 per share. She exercises the options when the shares were trading at $40 per share. In the following year, she sold all of her stures for $50 per share 3. Private Medical and Dental Plan (Employer portion), $1,830. 4. The company provided Christine personal fitness trainer's Fees In Company Wellness Centre, 5. Christine is single with no eligible dependents. Requirements Calculate in good form (show all supporting calculations) A.) 2020 Net Income for tax purposes. B.) 2020 Taxable income C) 2020 Federal tax payable or refund. For the toolbar, press ALT-F10 POR ALT FN F10 (Mac) IX B IV & Paragraph Aria 140 + Click Save and the same androit Click Save Alls to all on maining Time: 1 hour, 46 minutes, 02 seconds. estion Completion Status: Ms. Christine LeFontaine has worked for Giant Distributors Inc., a Canadian-controlled corporation, for a number of years. It supplies consumer packaged goods to leading retailers in Ontatio, Quebec and Alberta. Her salary for the year 2020 was $150,000. Giant Distributors withheld the following amounts from her earnings: Federal and provincial income tax $33,000 El premiums 856 CPP contributions 3,085 Private Medical and Dental Plan (Employee portion) 1,100 Union Dues 240 Other information: 1. A company-leased vehicle is made available to Christine for 12 months at a rate of $750 per month, including HST. The $750 includes a monthly insurance payment of $75 per month. The car was available to Christine throughout 2020. During this period, she droved a total of 79,000 kilometers, 7,000 kilometers of which were for personal use. 2. Christine received options to acquire 1,000 of her employer's common shares at an option price of $25 per share. At this time, the common shares are trading at $25 per share. She exercises the options when the shares were trading at $40 per share. In the following year, she sold all of her shares for $50 per share. 3. Private Medical and Dental Plan (Employer portion), $1,830. 4. The company provided Christine personal fitness trainer's fees in Company Wellness Centre 5. Christine is single with no eligible dependents. Requirements: Calculate in good form (show all supporting calculations). A.) 2020 Net Income for tax purposes. B.) 2020 Taxable income C.) 2020 Federal tax payable or refund. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Av T: 2 X Arial 14px BI U $ Paragraph STST x x + TT TIR HI! UR 5 90 Click Save and Submit to save and submit. Click Save All Answers to save all answert Remaining Time 1 hour. 48 minutes, 00 seconds Question completion Status: Ms. Christine LeFontaine has worked for Giant Distributors Inc., a Canadian-controlled corporation, for a number of years. It supplies consumer packaged goods to leading retailers in Ontatio, Quebec and Alberta. Her salary for the year 2020 was $150,000. Giant Distributors withheld the following amounts from her earnings Federal and provincial income tax $33,000 El premiums 856 CPP contributions 3,085 Private Medical and Dental Plan Employee portion) 1,100 Union Dues 240 Other information 1. A company-leased vehicle is made available to Christine for 12 months at a rate of $750 per month, including HST. The $750 includes a monthly insurance payment of $75 per month. The car was available to Christine throughout 2020. During this period, she droved a total of 79,000 Idiometers, 7,000 meters of which were for personal use. 2. Christine received options to acquire 1,000 of her employer's common shares at an option price of $25 per share. At this time, the common shares are trading at $25 per share. She exercises the options when the shares were trading at $40 per share. In the following year, she sold all of her stures for $50 per share 3. Private Medical and Dental Plan (Employer portion), $1,830. 4. The company provided Christine personal fitness trainer's Fees In Company Wellness Centre, 5. Christine is single with no eligible dependents. Requirements Calculate in good form (show all supporting calculations) A.) 2020 Net Income for tax purposes. B.) 2020 Taxable income C) 2020 Federal tax payable or refund. For the toolbar, press ALT-F10 POR ALT FN F10 (Mac) IX B IV & Paragraph Aria 140 + Click Save and the same androit Click Save Alls to all on maining Time: 1 hour, 46 minutes, 02 seconds. estion Completion Status: Ms. Christine LeFontaine has worked for Giant Distributors Inc., a Canadian-controlled corporation, for a number of years. It supplies consumer packaged goods to leading retailers in Ontatio, Quebec and Alberta. Her salary for the year 2020 was $150,000. Giant Distributors withheld the following amounts from her earnings: Federal and provincial income tax $33,000 El premiums 856 CPP contributions 3,085 Private Medical and Dental Plan (Employee portion) 1,100 Union Dues 240 Other information: 1. A company-leased vehicle is made available to Christine for 12 months at a rate of $750 per month, including HST. The $750 includes a monthly insurance payment of $75 per month. The car was available to Christine throughout 2020. During this period, she droved a total of 79,000 kilometers, 7,000 kilometers of which were for personal use. 2. Christine received options to acquire 1,000 of her employer's common shares at an option price of $25 per share. At this time, the common shares are trading at $25 per share. She exercises the options when the shares were trading at $40 per share. In the following year, she sold all of her shares for $50 per share. 3. Private Medical and Dental Plan (Employer portion), $1,830. 4. The company provided Christine personal fitness trainer's fees in Company Wellness Centre 5. Christine is single with no eligible dependents. Requirements: Calculate in good form (show all supporting calculations). A.) 2020 Net Income for tax purposes. B.) 2020 Taxable income C.) 2020 Federal tax payable or refund. For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). Av T: 2 X Arial 14px BI U $ Paragraph STST x x + TT TIR HI! UR 5 90 Click Save and Submit to save and submit. Click Save All Answers to save all answert