a) It is September 1, 2021. Lich Co. is trying to decide on whether to accrue bonuses for its employees at its September 30, 2021 year end, payable in January 2022, or to pay for the employees' spouse/partners to join them at the annual week-long work retreat in Hawaii in February 2022. The value of the bonus vs the trip for the partner is equivalent. Explain the tax consequences of each option from BOTH Lich Co.'s and the employees' perspectives. (4 marks) (~8 minutes) b) Briefly explain the difference between a zero-rated supply and an exempt supply in terms of GST/HST collection and the ability to claim Input Tax Credits (ITCS). (2 marks) (*4 minutes) c) Mr. Stoly is in a fairly high tax bracket and so is considering selling his Canada Savings Bonds which have both an ACB and a FMV of $10,000 to his 10 year old son who has no income, for $100. The bonds pay annual interest of $500 and have 6 years remaining until maturity. Is this a course of action that you would recommend? Why or why not? (4 marks) (8 minutes) d) Briefly explain how a company comes to be in a position to enjoy a dividend refund. Note: you do NOT need to separate the explanation into eligible and non-eligible dividends refunds. (3 marks) (~7 minutes) 2