Mr. Jordan is a salesperson handling a line of computer software throughout Western Canada. In 2022,...

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Mr. Jordan is a salesperson handling a line of computer software throughout Western Canada. In 2022, he is paid a salary of $25,500 and receives sales commissions of $48,100. He does not receive an allowance, nor is he reimbursed by his employer for any of his expenses. During the year, Mr. Jordan has the following employment-related expenses. View the expenses. View the additional information. Required Determine Mr. Jordan's 2022 employment income. Ignore all GST/HST and PST implications. Expeses Airline tickets Office supplies and shipping costs Purchase of laptop computer Client entertainment Cost of new automobile Operating costs of automobile $ 2,330 405 2,085 1,770 24,200 6,800 Additional Information Assume that all of the client entertainment was expended while more than 12 consecutive hours away from the employer's place of business. The new automobile was purchased on January 5, 2022, and replaced an automobile that Mr. Jordan had leased for several years. In 2022, Mr. Jordan drove a total of 50,000 kilometres, of which 35,000 kilometres were for employment purposes and 15,000 kilometres were for personal use. The maximum capital cost allowance (CCA) that could be claimed for the automobile if it was used 100% of the time for employment purposes is $10,890. In addition to expenditures to earn employment income, Mr. Jordan has the following disbursements. 445 705 I Alberta Blue Cross Medical Insurance Premiums Group Life Insurance Premiums Mr. Jordan indicates that he regularly receives discounts on his employer's merchandise and, during the current year, he estimates that the total value of these discounts was $1,700. None of the merchandise was purchased for less than the cost to the employer. One of the suppliers of his employer paid $2,250 to provide Mr. Jordan with a one week vacation at a northern fishing lodge. Mr. Jordan is a salesperson handling a line of computer software throughout Western Canada. In 2022, he is paid a salary of $25,500 and receives sales commissions of $48,100. He does not receive an allowance, nor is he reimbursed by his employer for any of his expenses. During the year, Mr. Jordan has the following employment-related expenses. View the expenses. View the additional information. Required Determine Mr. Jordan's 2022 employment income. Ignore all GST/HST and PST implications. Expeses Airline tickets Office supplies and shipping costs Purchase of laptop computer Client entertainment Cost of new automobile Operating costs of automobile $ 2,330 405 2,085 1,770 24,200 6,800 Additional Information Assume that all of the client entertainment was expended while more than 12 consecutive hours away from the employer's place of business. The new automobile was purchased on January 5, 2022, and replaced an automobile that Mr. Jordan had leased for several years. In 2022, Mr. Jordan drove a total of 50,000 kilometres, of which 35,000 kilometres were for employment purposes and 15,000 kilometres were for personal use. The maximum capital cost allowance (CCA) that could be claimed for the automobile if it was used 100% of the time for employment purposes is $10,890. In addition to expenditures to earn employment income, Mr. Jordan has the following disbursements. 445 705 I Alberta Blue Cross Medical Insurance Premiums Group Life Insurance Premiums Mr. Jordan indicates that he regularly receives discounts on his employer's merchandise and, during the current year, he estimates that the total value of these discounts was $1,700. None of the merchandise was purchased for less than the cost to the employer. One of the suppliers of his employer paid $2,250 to provide Mr. Jordan with a one week vacation at a northern fishing lodge.

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Answer Mr Jonssons employment income for the 2021 taxation year is 80830 Stepbystep explanation COMP... View the full answer