Agatha earned $35,000 at her job during January 1^st - October 10^th of 20x4. She accepted a new position with the company in a town 1312 kilometres away and began the new job on November 1^st, 20x4, earning a gross salary of $4000 per month.
Agatha's moving expenses included:
$7,000 for a moving van
$300 for meals en route for Agatha and her 4 year-old daughter on the four-day drive
$700 for accommodations en route
$3000 ($150 per day) for 20 nights of temporary lodging in the new location until her apartment was available
$550 in gas receipts
She was not reimbursed for the move.
Agatha also received the following in 20x4:
*The support payments are in accordance with Agatha's divorce agreement, which calls for monthly support payments of $1,500 for Agatha and $1,500 for her daughter.
Additional information:
Assumed mileage rates:
Required:
Determine Agatha's minimum net income for tax purposes for 20x4 in accordance with Section 3 of the Income Tax Act. Show all calculations for her moving expenses and identify any amounts to be carried-forward.

Question

Agatha earned $35,000 at her job during January 1^st - October 10^th of 20x4. She accepted a new position with the company in a town 1312 kilometres away and began the new job on November 1^st, 20x4, earning a gross salary of $4000 per month.
Agatha's moving expenses included:
$7,000 for a moving van
$300 for meals en route for Agatha and her 4 year-old daughter on the four-day drive
$700 for accommodations en route
$3000 ($150 per day) for 20 nights of temporary lodging in the new location until her apartment was available
$550 in gas receipts
She was not reimbursed for the move.
Agatha also received the following in 20x4:

Agatha earned $35,000 at her job during January 1<sup>st</sup> - October 10<sup>th</sup> of 20x4. She accepted a new position with the company in a town 1312 kilometres away and began the new job on November 1<sup>st</sup>, 20x4, earning a gross salary of $4000 per month. Agatha's moving expenses included: $7,000 for a moving van $300 for meals en route for Agatha and her 4 year-old daughter on the four-day drive $700 for accommodations en route $3000 ($150 per day) for 20 nights of temporary lodging in the new location until her apartment was available $550 in gas receipts She was not reimbursed for the move. Agatha also received the following in 20x4: *The support payments are in accordance with Agatha's divorce agreement, which calls for monthly support payments of $1,500 for Agatha and $1,500 for her daughter. Additional information: Assumed mileage rates: Required: Determine Agatha's minimum net income for tax purposes for 20x4 in accordance with Section 3 of the Income Tax Act. Show all calculations for her moving expenses and identify any amounts to be carried-forward.

*The support payments are in accordance with Agatha's divorce agreement, which calls for monthly support payments of $1,500 for Agatha and $1,500 for her daughter.
Additional information:
Assumed mileage rates:

Required:
Determine Agatha's minimum net income for tax purposes for 20x4 in accordance with Section 3 of the Income Tax Act. Show all calculations for her moving expenses and identify any amounts to be carried-forward.

Quizplus · Accepted Answer

The Answer of Agatha earned $35,000 at her job during January 1^st - October 10^th of 20x4. She accepted a new position with the company in a town 1312 kilometres away and began the new job on November 1^st, 20x4, earning a gross salary of $4000 per month. Agatha's moving expenses included: $7,000 for a moving van $300 for meals en route for Agatha and her 4 year-old daughter on the four-day drive $700 for accommodations en route $3000 ($150 per day) for 20 nights of temporary lodging in the new location until her apartment was available $550 in gas receipts She was not reimbursed for the move. Agatha also received the following in 20x4: *The support payments are in accordance with Agatha's divorce agreement, which calls for monthly support payments of $1,500 for Agatha and $1,500 for her daughter. Additional information: Assumed mileage rates: Required: Determine Agatha's minimum net income for tax purposes for 20x4 in accordance with Section 3 of the Income Tax Act. Show all calculations for her moving expenses and identify any amounts to be carried-forward.

Agatha Earned $35,000 at Her Job During January 1st -

Agatha Earned $35,000 at Her Job During January 1^st -