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personal income tax expert please only who are exert in personal tax calculation and from fill knowledgeCalculate the personal income tax by using profile software. James Doode decided to start his own personal business in 2019 after retiring from the Canadian Armed Forces. Upon retirement in 2018, James elected to receive immediate monthly pension payments from his employers pension plan. James� business consists of a motorcycle shop known as James� Specialty Bike Shop, selling and repairing motorcycles (industry code 441220). James proudly specializes in customizing motorcycles such as exotic choppers to very exclusive clients. James hired you to prepare his personal tax return for the year 2020, as well as for his common-law partner, Susan Bond. James and Susan want to pay the very least tax possible. They will use any election or choice legally available to them to achieve that objective. James income is mainly from his pension and personal business. Attached is an Appendix showing the relevant financial information pulled from the accounting records for James business. The amounts shown have not been adjusted for tax purposes. James expects you to identify which items are allowed for tax purposes to comply with the tax laws in Canada. James and Susan have other income from their investments and rental property. Below is the information needed to prepare their tax returns. Tax forms James and Susan received are included on the Case Study link as separate documents. Detailed Information: James was born on November 1, 1970. He is divorced but currently lives with Susan Bond, his common-law partner, at 123 Main Street, Anytown, Ontario, K0H 1H0. Both have been living together for several years now. James� Social Insurance Number (SIN) is 527-000-145. Susan�s SIN is 130-692-544. Susan was born on December 2, 1970 and has been blind since birth but still manages to work as a bookkeeper. Susan�s main source of income is the salary she received working as a bookkeeper at James� Specialty Bike Shop during the entire year - see T4 slip issued to Susan for 2018 and financial information from James business records in the Appendix. She also has income from joint investments with James (see further below). During 2020, James received bi-weekly pension payments from his former employers pension plan for a total pension income of $50,000 - see T4A slip issued to James for 2020 (box 16). Federal income tax of $8,000 was withheld at source on that pension income - see box 22 of the T4A slip. James has spousal support obligations from his previous marriage. He is required to pay $1,000 per month to his former spouse (Mary Doode; SIN: 527- 000-129) in accordance with a court order. During the year 2020,James was only able to pay 3 months worth of support. James and Susan have no children but James older brother Rick lives with them on a permanent basis since 2016 as he cannot live on his own due to a permanent mental disability. Rick was born on June 10, 1966 and has $8,000 of social assistance income for 2020 under the Ontario Disability SupportT5 Statement of Investment IncomeÉtat des revenus de placement Year Année Protected B when completed / / Protégé B une fois rempli Dividends from Canadian corporations – Dividendes de sociétés canadiennes 24 Actual amount of eligible dividends Montant réel des dividendes déterminés 25 Taxable amount of eligible dividends Montant imposable des dividendes déterminés Federal credit – Crédit fédéral 26 Dividend tax credit for eligible dividends Crédit dimpôt pour dividendes déterminés 13 Interest from Canadian sources Intérêts de source canadienne 18 Capital gains dividends Dividendes sur gains en capital 10 Actual amount of dividends other than eligible dividends Montant réel des dividendes autres que des dividendes déterminés 11 Taxable amount of dividends other than eligible dividends Montant imposable des dividendes autres que des dividendes déterminés 12 Dividend tax credit for dividends other than eligible dividends Crédit dimpôt pour dividendes autres que des dividendes déterminés 21 Report Code Code du feuillet 22 Recipient identification number Numéro didentification du bénéficiaire 23 Recipient type Type de bénéficiaire Other information (see the back) Autres renseignements (lisez le verso) Box / Case Amount / Montant Box / Case Amount / MontantBox / CaseAmount / Montant Recipients name (last name first) and address – Nom, prénom et adresse du bénéficiaire Payers name and address – Nom et adresse du payeur Currency and identification codes Codes de devise et didentification ◄ 27 Foreign currency Devises étrangères 28 Transit – Succursale 29 Recipient account Numéro de compte du bénéficiaire For information, see the back. Pour obtenir des renseignements, lisez le verso. See the privacy notice on your return./ Consultez l’avis de confidentialité dans votre déclaration. T5 (19) T5 Statement of Investment IncomeÉtat des revenus de placement Year Année Protected B when completed / / Protégé B une fois rempli Dividends from Canadian corporations – Dividendes de sociétés canadiennes 24 Actual amount of eligible dividends Montant réel des dividendes déterminés 25 Taxable amount of eligible dividends Montant imposable des dividendes déterminés Federal credit – Crédit fédéral 26 Dividend tax credit for eligible dividends Crédit dimpôt pour dividendes déterminés 13 Interest from Canadian sources Intérêts de source canadienne 18 Capital gains dividends Dividendes sur gains en capital 10 Actual amount of dividends other than eligible dividends Montant réel des dividendes autres que des dividendes déterminés 11 Taxable amount of dividends other than eligible dividends Montant imposable des dividendes autres que des dividendes déterminés 12 Dividend tax credit for dividends other than eligible dividends Crédit dimpôt pour dividendes autres que des dividendes déterminés 21 Report Code Code du feuillet 22 Recipient identification number Numéro didentificationP ro te c te d B w h e n c o m p le te d /P ro té g é B u n e f o is r e m p li T4A Statement of Pension, Retirement, Annuity, and Other Income État du revenu de pension, de retraite, de rente ou dautres sources Payers name – Nom du payeur Year Année 061 Payers account number / Numéro de compte du payeur 016 Pension or superannuation – line 11500 Prestations de retraite ou autres pensions – ligne 11500 022 Income tax deducted – line 43700 Impôt sur le revenu retenu – ligne 43700 012 Social insurance number Numéro dassurance sociale 013 Recipients account number Numéro de compte du bénéficiaire 018 Lump-sum payments – line 13000 Paiements forfaitaires – ligne 13000 020 Self-employed commissions Commissions dun travail indépendant 024 Annuities Rentes 048 Fees for services Honoraires ou autres sommes pour services rendus Other information (see page 2) Autres renseignements (voir à la page 2) Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Recipients name and address – Nom et adresse du bénéficiaire Last name (print) – Nom de famille (en lettres moulées) First name – Prénom Initials – Initiales T 4 A ( 1 9 ) P ro te c te d B w h e n c o m p le te d /P ro té g é B u n e f o is r e m p li T4A Statement of Pension, Retirement, Annuity, and Other Income État du revenu de pension, de retraite, de rente ou dautres sources Payers name – Nom du payeur Year Année 061 Payers account number / Numéro de compte du payeur 016 Pension or superannuation – line 11500 Prestations de retraite ou autres pensions – ligne 11500 022 Income tax deducted – line 43700 Impôt sur le revenu retenu – ligne 43700 012 Social insurance number Numéro dassurance sociale 013 Recipients account number Numéro de compte du bénéficiaire 018 Lump-sum payments – line 13000 Paiements forfaitaires – ligne 13000 020 Self-employed commissions Commissions dun travail indépendant 024 Annuities Rentes 048 Fees for services Honoraires ou autres sommes pour services rendus Other information (see page 2) Autres renseignements (voir à la page 2) Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Recipients name and address – Nom et adresse du bénéficiaire Last name (print) – Nom de famille (en lettres moulées) First name – Prénom Initials – Initiales T 4 A ( 1 9 ) Clear Data CAF REGISTERED PENSION PLANT4 Statement of Remuneration Paid État de la rémunération payée Year Année Employers name – Nom de lemployeur 54 Employers account number / Numéro de compte de lemployeur 12 Social insurance number Numéro dassurance sociale 28 Exempt – Exemption CPP/QPP RPC/RRQ EI AE PPIP RPAP 10 Province of employment Province demploi 29 Employment code Code demploi 14 Employment income – line 10100 Revenus demploi – ligne 10100 22 Income tax deducted – line 43700 Impôt sur le revenu retenu – ligne 43700 16 Employees CPP contributions – line 30800 Cotisations de lemployé au RPC – ligne 30800 24 EI insurable earnings Gains assurables dAE 17 Employees QPP contributions – line 30800 Cotisations de lemployé au RRQ – ligne 30800 26 CPP/QPP pensionable earnings Gains ouvrant droit à pension – RPC/RRQ 18 Employees EI premiums – line 31200 Cotisations de lemployé à lAE – ligne 31200 44 Union dues – line 21200 Cotisations syndicales – ligne 21200 20 RPP contributions – line 20700 Cotisations à un RPA – ligne 20700 46 Charitable donations – line 34900 Dons de bienfaisance – ligne 34900 52 Pension adjustment – line 20600 Facteur déquivalence – ligne 20600 50 RPP or DPSP registration number N° dagrément dun RPA ou dun RPDB 55 Employees PPIP premiums – see over Cotisations de lemployé au RPAP – voir au verso 56 PPIP insurable earnings Gains assurables du RPAP Employees name and address – Nom et adresse de lemployé Last name (in capital letters) – Nom de famille (en lettres moulées) First name – Prénom Initial – Initiale ◄ Other information (see over) Autres renseignements (voir au verso) Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant Box – Case Amount – Montant T 4 ( 1 9 ) P ro te c te d B w h e n c o m p le te d / P ro té g é B u n e f o is r e m p li T4 Statement of Remuneration Paid État de la rémunération payée Employers name – Nom de lemployeur Year Année 54 Employers account number / Numéro de compte de lemployeur 12 Social insurance number Numéro dassurance sociale 28 Exempt – Exemption CPP/QPP RPC/RRQ EI AE PPIP RPAP 10 Province of employment Province demploi 29 Employment code Code demploi 14 Employment income – line 10100 Revenus demploi – ligne 10100 22 Income tax deducted – line 43700 Impôt sur le revenu retenu – ligne 43700 16 Employees CPP contributions – line 30800 Cotisations de lemployé au RPC – ligne 30800 24 EI insurable earnings Gains assurables dAE 17 Employees QPP contributions – line 30800 Cotisations de lemployé au RRQ – ligne 30800 26 CPP/QPP pensionable earnings Gains ouvrant droit à pension – RPC/RRQ 18 Employees EI premiums – line 31200 Cotisations de lemployé à lAE – ligne 31200 44 Union dues – line 21200 Cotisations syndicales – ligne 21200 20 RPP contributions – line 20700 Cotisations à un RPAT5 Statement of Investment IncomeÉtat des revenus de placement Year Année Protected B when completed / / Protégé B une fois rempli Dividends from Canadian corporations – Dividendes de sociétés canadiennes 24 Actual amount of eligible dividends Montant réel des dividendes déterminés 25 Taxable amount of eligible dividends Montant imposable des dividendes déterminés Federal credit – Crédit fédéral 26 Dividend tax credit for eligible dividends Crédit dimpôt pour dividendes déterminés 13 Interest from Canadian sources Intérêts de source canadienne 18 Capital gains dividends Dividendes sur gains en capital 10 Actual amount of dividends other than eligible dividends Montant réel des dividendes autres que des dividendes déterminés 11 Taxable amount of dividends other than eligible dividends Montant imposable des dividendes autres que des dividendes déterminés 12 Dividend tax credit for dividends other than eligible dividends Crédit dimpôt pour dividendes autres que des dividendes déterminés 21 Report Code Code du feuillet 22 Recipient identification number Numéro didentification du bénéficiaire 23 Recipient type Type de bénéficiaire Other information (see the back) Autres renseignements (lisez le verso) Box / Case Amount / Montant Box / Case Amount / MontantBox / CaseAmount / Montant Recipients name (last name first) and address – Nom, prénom et adresse du bénéficiaire Payers name and address – Nom et adresse du payeur Currency and identification codes Codes de devise et didentification ◄ 27 Foreign currency Devises étrangères 28 Transit – Succursale 29 Recipient account Numéro de compte du bénéficiaire For information, see the back. Pour obtenir des renseignements, lisez le verso. See the privacy notice on your return./ Consultez l’avis de confidentialité dans votre déclaration. T5 (19) T5 Statement of Investment IncomeÉtat des revenus de placement Year Année Protected B when completed / / Protégé B une fois rempli Dividends from Canadian corporations – Dividendes de sociétés canadiennes 24 Actual amount of eligible dividends Montant réel des dividendes déterminés 25 Taxable amount of eligible dividends Montant imposable des dividendes déterminés Federal credit – Crédit fédéral 26 Dividend tax credit for eligible dividends Crédit dimpôt pour dividendes déterminés 13 Interest from Canadian sources Intérêts de source canadienne 18 Capital gains dividends Dividendes sur gains en capital 10 Actual amount of dividends other than eligible dividends Montant réel des dividendes autres que des dividendes déterminés 11 Taxable amount of dividends other than eligible dividends Montant imposable des dividendes autres que des dividendes déterminés 12 Dividend tax credit for dividends other than eligible dividends Crédit dimpôt pour dividendes autres que des dividendes déterminés 21 Report Code Code du feuillet 22 Recipient identification number Numéro didentification