#3) Based on the following, determine the tax impact to the employee receiving the following payments from their employer: 1) Hotel Accommodation Allowance Paid per Work Travel Day: Actual Cost of Hotels for Employee While Travelling per Day: 400 100 ii) Vehicle Allowance per KM for Work Purposes: 0.40 (First 5,000 KM) #4) Given the following details, determine the minimum Net Employment Income the Taxpayer needs to report for 2017 Tax Year: (show all calculation and explanations) Gross Salary Sales Commission Income Cash Performance Bonus 89,319 4,396 8,932 102,647 25,662 2,480 931 Federal Income Tax Withheld at Source CPP Contributions Withheld at Source El Insurance Premiums Withheld at Source Employee's RPP Contributions Employee's Contributions to Group Disability Plan Employee's Repayment to Employer for Work Vehicle Employee's Union Dues 5,132 159 693 1,340 36,397 Net Paycheque for Year 66,250 Other Additional Information: 1) Taxpayer was provided with a work vehicle that was used for both personal and work driving. The details of the vehicle use are as follows: Original Cost of Vehicle to Employer: FMV of Vehicle at December 31, 2017: NBV of Vehicle at December 31, 2017: # of Months Vehicle Available: # of Personal KM in Year: # of Work KM in Year: 29,692 27,147 20,222 12 9,222 16,977 FMV = Fair Market Value if sold to 3rd Party NBV = Net Book Value per Accounting Records ii) Taxpayer was hospitalized during the year. The details are as follows: 5,314 Total Disability Benefits Rec'd in Year: Cumulative Contributions to Plan by Employer: Cumulative Contributions to Plan by Employee: 1,000 1,559 * Figure includes the amount deducted from 2017 paycheque (159) ii) Taxpayer was required to pay annual professional dues of: The employer did not reimburse the employee for this. 685 iv) Employer contributed 3,000 towards employee's RPP.. v) A bonus of 7,000 was declared on December 20, 2017 by the employer and will be paid to the employee on January 7, 2018. vi) On January 1, 2017 Ms. Marsh received a loan from her employern 685 m) Tapayer was required to pay annual professional dues of: The employer did not reimburse the employee for this. iv) Employer contributed 3,000 towards employee's RPP. v) A bonus of 7,000 was declared on December 20, 2017 by the employer and will be paid to the employee on January 7, 2018. vi) On January 1, 2017 Ms. Marsh received a loan from her employern Amount of the Loan Interest Rate on the Loan Prescribed Interest Rate 01,02, 03 & 04 1600 196 896 vii) Other out of pocket (not reimbursed by employer) expenses incurred by Taxpayer and requird by the Employer under the Employment Contract during year. a) Total Square Footage of Personal House: Total Square Footage of Home Office: 2,000 177 Home Property Taxes: Home Mortgage Interest: Home Utilities: Home Insurance: Home Kitchen Renovation: 4,500 15,772 3,640 1,315 6.500 b) Advertising Costs: Total Cost of Meals on Road. Costs to Lease Equipment used for Work Bought Computer for Work 1,923 1138 858 1,082 #3) Based on the following, determine the tax impact to the employee receiving the following payments from their employer: 1) Hotel Accommodation Allowance Paid per Work Travel Day: Actual Cost of Hotels for Employee While Travelling per Day: 400 100 ii) Vehicle Allowance per KM for Work Purposes: 0.40 (First 5,000 KM) #4) Given the following details, determine the minimum Net Employment Income the Taxpayer needs to report for 2017 Tax Year: (show all calculation and explanations) Gross Salary Sales Commission Income Cash Performance Bonus 89,319 4,396 8,932 102,647 25,662 2,480 931 Federal Income Tax Withheld at Source CPP Contributions Withheld at Source El Insurance Premiums Withheld at Source Employee's RPP Contributions Employee's Contributions to Group Disability Plan Employee's Repayment to Employer for Work Vehicle Employee's Union Dues 5,132 159 693 1,340 36,397 Net Paycheque for Year 66,250 Other Additional Information: 1) Taxpayer was provided with a work vehicle that was used for both personal and work driving. The details of the vehicle use are as follows: Original Cost of Vehicle to Employer: FMV of Vehicle at December 31, 2017: NBV of Vehicle at December 31, 2017: # of Months Vehicle Available: # of Personal KM in Year: # of Work KM in Year: 29,692 27,147 20,222 12 9,222 16,977 FMV = Fair Market Value if sold to 3rd Party NBV = Net Book Value per Accounting Records ii) Taxpayer was hospitalized during the year. The details are as follows: 5,314 Total Disability Benefits Rec'd in Year: Cumulative Contributions to Plan by Employer: Cumulative Contributions to Plan by Employee: 1,000 1,559 * Figure includes the amount deducted from 2017 paycheque (159) ii) Taxpayer was required to pay annual professional dues of: The employer did not reimburse the employee for this. 685 iv) Employer contributed 3,000 towards employee's RPP.. v) A bonus of 7,000 was declared on December 20, 2017 by the employer and will be paid to the employee on January 7, 2018. vi) On January 1, 2017 Ms. Marsh received a loan from her employern 685 m) Tapayer was required to pay annual professional dues of: The employer did not reimburse the employee for this. iv) Employer contributed 3,000 towards employee's RPP. v) A bonus of 7,000 was declared on December 20, 2017 by the employer and will be paid to the employee on January 7, 2018. vi) On January 1, 2017 Ms. Marsh received a loan from her employern Amount of the Loan Interest Rate on the Loan Prescribed Interest Rate 01,02, 03 & 04 1600 196 896 vii) Other out of pocket (not reimbursed by employer) expenses incurred by Taxpayer and requird by the Employer under the Employment Contract during year. a) Total Square Footage of Personal House: Total Square Footage of Home Office: 2,000 177 Home Property Taxes: Home Mortgage Interest: Home Utilities: Home Insurance: Home Kitchen Renovation: 4,500 15,772 3,640 1,315 6.500 b) Advertising Costs: Total Cost of Meals on Road. Costs to Lease Equipment used for Work Bought Computer for Work 1,923 1138 858 1,082