William Winter works for an extremely generous employer, Benjamin's Ltd., which paid the fol- lowing amounts...
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William Winter works for an extremely generous employer, Benjamin's Ltd., which paid the fol- lowing amounts on behalf of William: (a) Registered pension plan contributions (defined benefit) (b) Provincial employer health tax.... (c) Extended health care premiums-Sun Life. (d) Drug plan premiums-Mutual of Omaha... (e) Tuition fee for a basket weaving course offered by a local high school (f) Non-cash Christmas gift which the company did expense for tax purposes (g) Subsidized lunches at company cafeteria: Fair market value Actual cost .. Amount paid by William... (h) Membership fees in Exclusive Private Club... (i) Financial counselling-ABC Investment Counselling Ltd. - REQUIRED Comment on whether these amounts are taxable. .. $1,000 600 250 150 75 65 640 420 200 800 1,000 William Winter works for an extremely generous employer, Benjamin's Ltd., which paid the fol- lowing amounts on behalf of William: (a) Registered pension plan contributions (defined benefit) (b) Provincial employer health tax.... (c) Extended health care premiums-Sun Life. (d) Drug plan premiums-Mutual of Omaha... (e) Tuition fee for a basket weaving course offered by a local high school (f) Non-cash Christmas gift which the company did expense for tax purposes (g) Subsidized lunches at company cafeteria: Fair market value Actual cost .. Amount paid by William... (h) Membership fees in Exclusive Private Club... (i) Financial counselling-ABC Investment Counselling Ltd. - REQUIRED Comment on whether these amounts are taxable. .. $1,000 600 250 150 75 65 640 420 200 800 1,000
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Answer rating: 100% (QA)
ANSWER To determine whether the amounts paid on behalf of William by Benjamins Ltd are taxable we need to consider the tax rules and regulations regarding each type of payment Heres a breakdown of eac... View the full answer
Related Book For
Introduction To Federal Income Taxation In Canada
ISBN: 9781554965021
33rd Edition
Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett
Posted Date:
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