Taxable Income Calculation Slide in Week 2.

(use this slide as a method and the country is Canada)

1) Calculate Taxable Income and Income Tax on the Taxable Income using the methodology provided in Taxable Income Calculation Slide in Week 2.

Net Employment Income	$126,162.00
Allowable Capital Losses	-$2,828.50
Net Business Profit	$68,047.50
Capital Gains	$9,260.00
Contribution to RRSP	-$5,927.00
Loss in Rental Income	-$8,819.00

\begin{tabular}{l|l} \hline Incomes / Losses & Effects on Taxable Income Calculation \\ \hline Employment Income & Added to Taxable Income \\ \hline Capital Income/Gains & 50% of the Amount is Added to the Taxable Income \\ \hline Capital Losses & Deducted from Taxable Income \\ \hline Business Profit/Income & Added to Taxable Income \\ \hline Business Losses & Deducted from Taxable Income \\ \hline Contribution to RRSP & Deducted from Taxable Income \\ \hline Contribution to TFSA & No change in Taxable Income \\ \hline Rental Income & Added to Taxable Income \\ \hline Rental Loss & Deducted from Taxable Income \\ \hline Interest on Loan Given & Added to Taxable Income \end{tabular}