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The follawing information relates to Perry Somer's financial affilirs in $2023.$

Perry la employed as a salesperson and is remunersted by commisalona. He must psy all of his own expenaea. During the year, he

earned commlssions of $$54,000.$ His employer withleld income tsx$,$ E$,$ snd CPP contributions $($Including CPP enhanced

contrbutions of $$505$; His expense: were sa follows.

Autonchsie $($coperating cosits$)$

Entertainment $($ncals$)$

Comention $($related to his eqployent$)$

Donations

Cell phone basic plan $($rolated to his employent$)$

The persanal$-$use portion of his autamable expense is $20\%.$ The UCC of his sutomobile at the end af the previous year ws: $$6,100.$

$2$ He mode the following capital transactions.

Shares of public corporation A

Shares of public corporation $8$

Shares of Caradian$-$cantrolled private corporation $C$

$($a seall business corporation$)$

In $2022,$ Perry scquired the following two reaidentisl rental properties.

Maximum copital cost allowance was claimed in $2022.$ In $2023,$ the city expropriated property $Y$ for $$80,600($iland $-$ $$20,600,$

building $-$ $$60,000.$ Perry was plessed becsuse property $Y$ was vecant for part of the year after o tensent vacated unexpectedly. In

$2023,$ net rental income from both properties $($ater all expenses but before capital cost allawsence$)$ was $$1,000.$

Perry's other income and expenses sre ss follaws.

Incone:

oividerds $-$ Canadian public corporations

Interest $on$ forelgn bonds $(sotof158$ witholding tax$)$ $$2,460$

$1,760$

Expenses:

Interest on a loan used to acquire the foroign bonds $1,56$e

Imestment counsel foe $1,960$

$1,969$

During the yesr, Perry contributed $1,000$ to a reglatered pension plan, which was matched by his emplayer In sddition, he

contributed $$2,400$ to hls RRSP$.$

Required:

Calculate Perry's minimum $2023$ net income in sccordsnce with the sggregsting formula for determining net income for tax purpoces.

Paragraph $3($a$)$ Inoome:

Employmant insome:

$$

$0$

Property inoome:

Paragraph $3($b$)$ Capital cainc & oapital ioccec:

$$

Paragraph $3(0)$ Othar daduotione:

$s$

Paragraph $3($d$)$ Loccec:

Nast income for Tax purposes

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