To Ima N. Employee, a senior production manager and corporate director of Valleytown Industries Ltd. (VII.), of Dundas, Ontario, received the following amounts and benefits from her employer during 2020. The corporation is a Canadian-controlled private corporation, having no shares listed on a stock exchange. 1. Salary, gross Payroll deductions: Income taxes Canada Pension Plan premium Employment Insurance premium Group accident disability insurance premiums Net pay $38,000 2,898 856 600 $140,000 (42.354) 5.97.646 2. Ima exercised a stock option to buy 1,000 shares of VIL. at $25 per share. The fair market values at the date of grant (August 2019) and purchase (July 2020) were $24 per share and $27 per share, respectively. Also, in 2020, Ima was granted an option on an additional 1,000 shares, which had a fair market value of $29 per share at the time. The exercise price is $26 3. A cash birthday gift of 5450 was paid to Ima. VII. corporate policy was to deduct such gifts. 4. Ima and her life partner were provided with the company's condo in Colorado for two weeks during the winter ski season. They had to pay VII. $1,500 for accommodations that would otherwise have cost them $3,400. Ima was not involved in any business activities during this trip. 5. Ima's life partner accompanied her on a business trip to Cuba that was paid for by her employer. The main purpose of the trip was for Ima to work with a customer. Her life partner performed no business function during the trip. They did not extend their trip to include a vacation. Ima's expenditures of $5,000, including applicable taxes, were paid by VII. and were reasonable in relation to the business function. The portion of the travelling expenses related to Ima's life partner were also paid by VII and amounted to $1,000, including applicable taxes. 6. During 2020, VIL paid for Ima to have her income 2019 tax return prepared by the company's accountants at a cost of $375, including HST 7. VII. provided Ima with a car, which they bought January 3, 2019. Capital cost of the car including applicable taxes Canital cost allowance claimed by company in 2019 $38,529 15.255