Question

An employer's contribution to an employee's a registered pension plan (RPP) is a taxable benefit to the employee. Fase 5.00 An employee does not have to be a salesperson to receive a tax-free allowance for travel costs. The 5.00 An employee may claim the goods and services tax (GST) or harmonized sales tax (HST) rebate only on expenses that are tax deductible Fuse A : 5.00 Canadian Taxation Both employers and employees need to evaluate their compensation program on an after-tax basis. Aw : 5.00 Scholarships provided to an employee's family members are a taxable benefit to the family member. If an employee receives stock options from their employer when the option exercise price (eg. $7) is less than the stock price leg. $10), the employee has an immediate taxable benefit. The benefit is equal to the difference between the stock price and the exercise price $3 per share in our example) O True OF

Answer 1

(A) Employer's contribution to employee RPP is not a taxable benefit to the employee, So this statement is false.

1. An RPP is a pension plan under which employers and employees (or employers only) make contributions to a retirement fund.
2. The maximum annual contributions is based on acturial needs and their is no annual limit if contributions are required to finance benefits not exceeding maximum limits permited.
3. Contributions to RPPs are tax-deductible for both the employee and the employer.

(B) This statement is false.

1. In case of salesperson you may pay reasonable travel allowance for expenses other than use of automobile.
2. You do not have to include the allowance in the employee's income if it was for expenses related to the performance of duties of the office or employment.

(C) This statement is True.

1. if employee paid GST or HST on certain employment-related expenses and deducted those expenses on your income tax and benefit return.
2. His employer is a GST/HST registrant.
3. If his employer is not a GST/HST registrant this rebate is not granted.
4. If employer is a listed financial institution as defined in the Excise Tax Act, This rebate is not granted.

(D) This statement is true.

(E) This statement is false.

If you offer a program that provides free or reduced tuition fees to the family members of your employees, do not include the value of any benefit the employee’s family member receives in your employee’s income unless:

• the benefit is provided as a substitute for salary, wages or other remuneration

(F) This statement is true.

*If you like this please give me thumb for better solutions.