You are a tax professional working for A & B tax consultant corp. Victoria, a new client asked you to help her to understand and prepare her tax return for 2021.

She wants to know her maximum RRSP deduction, and she wants to use it all to reduce her taxes. Also, she wants to know her minimum Net income for Tax purposes and her minimum Taxable Income.

She provides you with the following information:

1- In the last 10 years, Victoria works for a public corp. called Alberta Co. And her 2020 Net Income for Tax Purposes was $59,510, this includes employment income 52,000 (after deduct 2,400 RPP contribution), interest income of 4,000, and grossed-up non-eligible dividends 3,510 (original dividend 3,026 grossed at 1.15). Also, at the end of 2020, her unused RRSP deduction room was $7,400 and her Pension Adjustment for 2020 was $5,200 (Hint: use this information to calculate her RRSP deductions)

2- In 2021 she receives $50,150 gross salary ($45,150 from the Red Deer branch and the remaining from Edmonton Branch), and her employer withheld the following:

Federal Income Tax $3,000

Canada Pension Plan contributions (CPP) 2,450

Employment Insurance Premiums (EI) 830

Registered Pension Plan Contributions (RPP) 2,750

Donation to United Way charity 600

Professional Dues 350

Contribution to Disability Pension Plan 1,000

Use of employer car 2,000

Victorias employer matches Victorias contributions of $2,750 to her RPP and $1,000 to her disability plan (on Dec 31, 2020, her accumulated premiums in the plan were $1,900)

3- Victorias employer provides her with a car purchased last year for $35,200 including taxes. Victoria drove the car for 10 months (she was in the hospital for two months in 2021, during that time she returned the keys to her employer). During 2021 the car has driven a total of 62,000 km, 51,000 km for personal use and the remainder for employment purposes.

4- Victoria receives $4,800 from her disability plan, while she is in the hospital

5- On April 1, 2017, Victoria receives options from her employer to buy 1000 Alberta Co. shares at $20, on that date the company stock price was trading at $15. Victoria exercises her option on Sept 15, 2018, when the share price was $35. On October 10, 2021, she sold those shares for $50 each and she pays $1,000 in commissions for CIBC Investor-Edge, to handle this transaction.

6- In April 2021, Victoria moves from Red Deer to Edmonton, as she was transferred to the Edmonton branch by her employer. The Edmonton branch is located only 2 km from Victorias new home in Edmonton. She incurred $7,150 in moving expenses (calculated correctly), and her employer reimburse part of her moving expenses amount of $1,500

7- On Oct 1, 2019, Victoria opens a term deposit account and deposited $50,000 into the account on this date. The account earns interest of 8%, but Victoria will not receive any interest until maturity on Sep 30, 2024.

8- In 2021 Victoria receives $17,000 of eligible dividends from a taxable Canadian corp.

9- Reviewing her CRA account, you found she has a non-capital loss carried over from prior years (2008) in the amount of $10,000 and a net-capital loss carried over in the amount of $10,000.

Please assist Victoria in her request; by calculating:

- RRSP Maximum deductible for 2021 ( as she will contribute this amount to her RRSP)

- 2021 Division B income (Net Income for Tax Purposes) -(Must show income by Subdivision (3a, 3b)) including her RRSP contributions in 3c

- 2021 Taxable Income

Notes: Answers only NOT acceptable, support calculations in an excel sheet are required.