13. Marie works in Toronto. She has group life insurance coverage through her employer. She pays...

 

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13. Marie works in Toronto. She has group life insurance coverage through her employer. She pays 50% of the annual premiums for a total of $500 a year The employer pays the remaining 50% of annual premiums, also for a total of $500 a year. Which statement describes the taxable nature of premiums in this case? O The employer cannot deduct any of the premiums it has paid. The employee can deduct the premiums he or she has paid. O The employee will be taxed on the premiums paid by the employer. The employer will be taxed on the premiums paid by the employee. O 13. Marie works in Toronto. She has group life insurance coverage through her employer. She pays 50% of the annual premiums for a total of $500 a year The employer pays the remaining 50% of annual premiums, also for a total of $500 a year. Which statement describes the taxable nature of premiums in this case? O The employer cannot deduct any of the premiums it has paid. The employee can deduct the premiums he or she has paid. O The employee will be taxed on the premiums paid by the employer. The employer will be taxed on the premiums paid by the employee. O

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The employee will be taxed on the premiums paid by the employer Explanation Due to the fact that the ... View the full answer