$1.$ When negotiating formal compensation packages $($such as salary, wages, bonuses, etc.$),$ employers should take advantage of the fact thatAll employees are in the same tax bracket.Employees know all the employer's deductible expenses.Compensation expenses are generally deductible by the employer when incurred, but only taxable to the employee when received.Compensation expenses are generally not deductible.

$2.$ An employee qualifies to claim travel expenses. They use their personally leased vehicle, costing $$950/$month$.$ While travelling, they incur costs for gas of $$2,000,$ repairs of $$800,$ and parking during work of $$300.$ Of the $25,000$ km driven in the year, $15,000$ km were work related. No amounts were paid or reimbursed by the employer. What would be the claim for travel expenses? $($Ignore all sales taxes$)$$$8,820$$$8,700$$$14,500$$$6,8403.$ An employee received an option to purchase shares of a public company at $$8$ per share when the price of the stock was $$10$ per share. The $$2$ difference creates a taxable benefit that is taxed asProperty income when the option is granted.Employment income when the option is granted.Property income when the option is exercised.Employment income when the option is exercised$\mathrm{.}4.$ In computing their employment income, a salesperson may deductAdvertising, purchase of a computer, supplies, and travel expenses.Golf course fees, supplies and travel.Advertising, parking, supplies, and travel expenses.Advertising, golf course fees, supplies, and travel expenses$\mathrm{.}5.$ An employee received an option to purchase shares of a Canadian$-$controlled private corporation $($CCPC$)$ at $$8$ per share when the value of the stock was $$10$ per share. This results in a taxable benefit that is taxed asEmployment income when the shares are sold.Employment income when the option is exercised.A capital gain when the shares are sold.Employment income when the option is granted$\mathrm{.}6.$ In $2020,$ an employee of a public corporation $($Pubco$)$ received a stock option to acquire $1,000$ Pubco shares at a price of $$15$ per share. The market price of the shares at that time was $$18.$ In $2021,$ the employee exercised the option $($purchased the shares$)$ when the market price was $$20.$ In $2023,$ the employee sold the shares at $$24.$ What would be the employee's taxable capital gain in $2023?$$$4,000$$$5,000$$$2,000$$$4,5007.$ True or False. The taxable benefit for both an employer owned vehicle and employer leased vehicle, is based on the cost of each to the employer$\mathrm{.}8.$ True or False. For an employer to deduct deferred compensation on an accrual basis, the compensation would have to be paid within $360$ days of the fiscal year end in which the expense was accrued$\mathrm{.}9.$ True or False. Generally, the stand$-$by charge portion of the automobile benefit would be based on the number of months the automobile was made available to the employee, and not on a prescribed rate by the Canada Revenue Agency $($CRA$).$ Group starts$\mathrm{.}10.$ True or False. The primary advantage of deferred compensation plans, such as a Registered Retirement Plan $($RPP$),$ is the income tax refund the employee receives for the employer's contributions$\mathrm{.}11.$ True or False. Both employers and employees need to evaluate their compensation program on an after$-$tax basis$\mathrm{.}12.$ True or False. The type of the service provided by an individual would determine if the individual would be treated as an employee or self$-$employed as an independent contractor$\mathrm{.}13.$ In $2023,$ an individual received a salary of $$65,000.$ Deducted from the salary were income taxes of $$12,000,$ the maximum Canada pension plan $($CPP$)$ and employment insurance $($EI$)$ contributions of $$4,756$ of which $$631$ was the enhanced CPP contribution, and charitable donations of $$600.$ What would be the individuals total federal tax in $2023?$$$7,281$$$8,011$$$7,392$$$7,04114.$ A $62-$year$-$old retired employee supported themselves and their $61-$year$-$old spouse on their pension and investment income. They received a registered pension plan $($RPP$)$ pension of $$39,000,$ $$5,000$ in interest income and $$4,000$ in dividends from a Canadian controlled private corporation $($CCPC$)$ that claimed the small business deduction $($SBD$)$ on all its income. What would be their total federal tax in $2023?$$$2,490$$$2,376$$$4,326$$$2,07615.$ A taxpayer made charitable donations of $$1,300$ and their spouse donated $$600$ in $2023.$ Each of the individuals earned $$70,000$ of employment income. What would be the maximum federal donation tax credit $($round to nearest dollar$)$ the couple would claim in $2023?$$$591$$$523$$$349$$$28516.$ In the case of an unmarried person, which of their relatives would be eligible for the equivalent to spouse tax credit?Dependent child over the age of $18$ at any time in the year who lived with the parent.The $85-$year$-$old, disabled uncle living with the person.Dependent child over the age of $18$ at any time in the year who lived in their own apartment.Dependent child over the age of $18$ at any time in the year who lived with the parent and is dependent by reason of physical or mental infirmity.

$17.$ True or False. The pension tax credit would be applied to amounts received from a company private pension, Registered retirement savings plans $($RRSP$),$ Canada Pension Plan $($CPP$)$ and Old Age Security $($OAS$).$

$18.$ True or False. The entire amount of medical expenses paid for the taxpayer, their spouse and all children living at home would qualify for the medical expense tax credit.

$19.$ True or False. Donations, which exceed the $75\%$ of net income annual limit$,$ may be carried forward and claimed in any of the subsequent five years.

$20.$ True or False. The full amount of the tuition tax credit, not fully utilized in the year by the student, would be transferable to and claimable by a parent.