Your organization, located in Manitoba, will be enhancing the group benefits plan offered to employees in two
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Question:
Your organization, located in Manitoba, will be enhancing the group benefits plan offered to employees in two months by adding accidental death and dismemberment (AD&D) coverage and vision care coverage. The organization will pay 50% of the cost of the AD&D premiums and 50% of the cost of the vision care premiums, with the employees paying the other 50% of each premium.
Answer of the following questions:
- -What is vision care coverage?
- What type of allowance or benefit would this be (cash or non-cash? Taxable or non-taxable?)
- What amount would be included in the employee’s income?
- What impact would this have (if any) on any statutory deductions for employees?
- What would be the impact on their net pay?
Related Book For
Management Accounting Information for Decision-Making and Strategy Execution
ISBN: 978-0137024971
6th Edition
Authors: Anthony A. Atkinson, Robert S. Kaplan, Ella Mae Matsumura, S. Mark Young
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