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Your neighbour, Mrs. White, has heard that you were studying personal tax. She has come to you with her financial information for 2020. Mrs. White

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Your neighbour, Mrs. White, has heard that you were studying personal tax. She has come to you with her financial information for 2020. Mrs. White is a resident of Canada for tax purposes: - Employment income $40,000 - Business X profit 8,000 Business Y loss 22.000 . RRSP Withdrawal 2.000 interest income 3,000 Taxable Capital gain on sale of land 10,000 Alimony payments (spousal support) 2.000 - Capital loss on sale of securities 24,000 Allowable business investment loss 5.000 Required: Determine Mrs. White's net income for tax purposes in accordance with Section 3 of the income Tox Act (Show your calculations for Paragraphs 3(a), 3(6), 3(c) and 3(d) of income Tax Act) F10 IPG Or ALT-FN-F10 (Mac)

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