I$-$TRUE OR FALSE QUESTIONS $(8$ Points$)$

$1.$ Employment income is the salary, wages and other remuneration, including gratuities that

are received by an employee during the year.

$2.$ One of the advantages of being an independent contractor $($carrying on a business$)$ rather

than an employee is that you don$$t have to make CPP contributions.

$3.$ Employers generally prefer contracting out as it avoids the cost of CPP and EI contributions.

$4.$ When an employee pays all of the premiums for disability insurance coverage, the payments

are not deductible and the benefits received are tax free