Question

1. An allowance paid to an employee for using his personal automobile for employment purposes must be based on kilometers in order to be considered reasonable

	True
	False

2. Employer payments to private healthcare plans are not taxable benefits and any benefits received under such plans are also non-taxable.

Question 9 options:

	True
	False

3. A table benefit assessed to employees whose employers pay the operating costs of an automobile provided to the employee.

Operating Cost Benefit, In-The Money, Out-Of-The-Money

4. A term that is used to describe stock options where the option price exceeds the market value.

Operating Cost Benefit, In-The Money, Out-Of-The-Money

5. A term that is used to describe stock options where the fair market value of the stock exceeds the option price.

Operating Cost Benefit, In-The Money, Out-Of-The-Money

Course- Introduction to taxation

Answer 1

Solution & 1) Telue, an allowance is considered to be non-toxabole when it is based solely on a "Heasonalele" pear- kilometre rate. 2) Towe, when employers make payment of penalums to půvate healthcáoce plans alich payments and also any benefits deceived under these plans are Texcluded from employees goeds income and not taxed undeed jederal lave. When em 3) Operating Cest Benefit employed pesuides an automobile to an employee and pays seen the specating expenses Melated to personal wisl., this Bopment is a tobabele benefit to the employee and is called "operating cest lumefét. 24 Out- of - The 5) In- The e Money The Money Note: If you liked the answer, please give an Up-vode, Piles will be quite encouraging for me, thank you!