Assignment Problem Four$-5$: $($Comprehensive Tax Payable$)$

Ms$.$ Tanja Umstead is $46$ years old and lives in Richmond, British Columbia. She is in good health and works in the sales department of a large publicly traded company with gross revenues of $$722$ million.

Tanja$$s Personal Information:

$1.$ She is divorced from her husband and has custody of her $11$ year old daughter, Cynthia. The daughter is sufficiently disabled that she qualifies for the disability tax credit. The daughter has $2024$ Net Income For Tax Purposes of $$6,425,$ largely made up of interest on bonds purchased from an inheritance.

$2.$ Tanja$$s $68$ year old mother lives with her and provides care for Cynthia on a full time basis. She is active and healthy. As she receives no compensation for this work, Tanja has no child care costs during $2024.$ The mother$$s $2024$ Net Income For Tax Purposes is $$13,460.$

$3.$ Because of a $2024$ decrease in Cynthia$$s mobility, Tanja has had to install access ramps in several locations in her home. The cost of these ramps was $$14,600.$

$4.$ During $2024,$ Tanja worked nearly $300$ hours as a volunteer search and rescue volunteer. She received $$200$ in compensation for this work.

$5.$ Tanja$$s $2024$ medical expenses are as follows:

Various prescription drugs $($Tanja and Cynthia$)$ $ $3,465$

Various medical specialist treatments for Cynthia $10,490$

Prescription sunglasses for Tanja and Cynthia $875$

Cosmetic surgery for Tanja $2,463$

Dentist fees for Tanja$$s mother $3,300$

Dentures for Tanja$$s mother $1,325$

$6.$ During $2024,$ Tanja contributes $$3,500$ to Red Cross, a registered Canadian charity.

Employment Information:

$1.$ Tanja$$s salary compensation for $2024$ is $$93,500.$ In addition, she was awarded a year end bonus of $$12,000,$ all of which is payable in January $2025.$

$2.$ Tanja$$s employer sponsors a defined benefit registered pension plan. During $2024$ Tanja and her employer each contribute $$4,150$ to the plan. In addition, her employer withheld maximum El contributions of $$1,049$ and maximum CPP contributions of $$4,056.$

$3.$ Tanja is taking an intensive course in spoken Chinese at a British Columbia university. The course is

a course of personal interest and is not related to Tanja$$s employment. The tuition fee for the course

is $$3,600,$ all of which is paid for by her employer. The duration of the course is eight months.

$4.$ Tanja is provided with disability insurance by an employer sponsored plan. During $2024,$ as a consequence of an automobile accident, she was unable to go to work for one month and receives benefits of $$6,500.$ Starting in $2022,$ Tanja has been contributing $$340$ per year for the plan$$s coverage. Her employer makes a matching contribution each year.

$5.$ Tanja$$s employer provides her with an automobile that was purchased several years ago at a cost of $$39,500.$ During $2024,$ the automobile is driven $41,000$ kilometres, $34,000$ of which were for employment$-$related travel. Tanja is required to pay her own operating costs, which for $2024$ totalled $$7,240.$ Except for the one month that she was off from work, the car was available to Tanja throughout the year. During the one month that she was off, the automobile was left in her employer$$s garage as required by her employer$$s policy.

$6.$ Tanja$$s employer provides all of its employees with financial counseling services. The cost to the company of the services provided to Tanja was $$450.$

$7.$ As a result of winning a sales contest, Tanja received a one$-$week trip to Las Vegas. The value of this trip in Canadian dollars was $$5,620.$

$8.$ Several years ago, Tanja received options to acquire $250$ shares of her employer$$s common stock at a price of $$25$ per share. When the options were granted, the shares were trading at $$25$ per share. During $2024,$ Tanja exercises all of these options. On the exercises date, the shares are trading at $$32$ per share. Tanja is still holding the shares at the end of the year.

Required: Calculate, for the $2024$ taxation year, Tanja$$s minimum Taxable Income and federal Tax Payable. Ignore GST and PST considerations.