In $2023,$ Sunshine Publishing Ltd$.,$ a book publishing company with a fiscal year$-$end on December $31$st$,$ made a $$100,000$ loan to Stuart Sunshine, the president and majority shareholder. All parties involved are Canadian residents.

This is the first loan Stuart received from the company, and it helped him purchase a new home for his own residence. The loan was made on May $1,2023$ and a mortgage agreement is signed on that date. The agreement requires that the $$100,000$ to be repaid over five years in equal instalments of $$20,000$ on each anniversary date, starting on May $1,2025.$ The interest rate is $1\%$ per year, paid on December $31$st each year.

Assume that the prescribed rates applicable are as follows: $1\%$ for Q$12023,2\%$ for Q$22023,3\%$ for Q$32023,$ and $1\mathrm{.}5\%$ for Q$42023.$

You may simplify the imputed interest calculations by using months as opposed to days. Assume any accrued interest is paid at the end of each year.

REQUIRED

a$)$ Assuming that no other housing loans have been made to other employees, what are the income tax consequences of this loan to Stuart in $2023?$

b$)$ Assuming that it is company policy to make such loans to other employees, what are the income tax consequences of this loan to Stuart in $2023?$