Column A-select Column B - select the section number from Taxable or Not Taxable the ITA to support from the dropdown arrow from the dropdown arrow Section Reference 5,000 $ 800 Amount Taxable or Not Taxable Employment income (received in 2020) $ 45,000 Bonus ($1,000 received in December 2020) 1,000 Bonus ($5,000 received in January 2021) $ Employer paid the following items: Employer contribution to company registered pension plan $ 2,500 Employer paid premiums for group term life insurance (beneficiary = taxpayer) $ 1,200 Employer paid premiums for extended health and dental plan $ 1,500 Employer paid for income tax preparation $ 350 Employer paid for couselling for retirement $ 400 A scholarship for the taxpayer's son, received under a program provided by the $ employer. 4.500 Dry-cleaning allowance for business clothing 600 Employer directly pays for parking. The parking lot is private owned (not $ owned by the employer). Employer paid for seminar/workshop on new accounting software being $ Implemented in company, Monthly car allowance ($200 per month) $ 2,400 Other items: Taxpayer stayed in condo in Barbados (owned by employer) for a one-week $ holiday. Typical value for a one week stay Is $1,500. 1,500 Taxpayer purchased merchandise from employer at a 20% discount, saving a total of $500 (still above cost). Discount is available to all employees, 500 Taxpayer received the following gits from the employer: 2 coffee mugs Gift card to the grocery store - taxpayer was voted the most friendly employee $ A watch - for working at the company for 10 years (employer provides a milestone gift at the 10 year mark) Weekend getaway in Mexico - given by employer for signing up the most new cu: $ A holiday gift (various household gifts) 900 $ $ 10 100 $ 450 1,100 75 Column A-select Column B - select the section number from Taxable or Not Taxable the ITA to support from the dropdown arrow from the dropdown arrow Section Reference 5,000 $ 800 Amount Taxable or Not Taxable Employment income (received in 2020) $ 45,000 Bonus ($1,000 received in December 2020) 1,000 Bonus ($5,000 received in January 2021) $ Employer paid the following items: Employer contribution to company registered pension plan $ 2,500 Employer paid premiums for group term life insurance (beneficiary = taxpayer) $ 1,200 Employer paid premiums for extended health and dental plan $ 1,500 Employer paid for income tax preparation $ 350 Employer paid for couselling for retirement $ 400 A scholarship for the taxpayer's son, received under a program provided by the $ employer. 4.500 Dry-cleaning allowance for business clothing 600 Employer directly pays for parking. The parking lot is private owned (not $ owned by the employer). Employer paid for seminar/workshop on new accounting software being $ Implemented in company, Monthly car allowance ($200 per month) $ 2,400 Other items: Taxpayer stayed in condo in Barbados (owned by employer) for a one-week $ holiday. Typical value for a one week stay Is $1,500. 1,500 Taxpayer purchased merchandise from employer at a 20% discount, saving a total of $500 (still above cost). Discount is available to all employees, 500 Taxpayer received the following gits from the employer: 2 coffee mugs Gift card to the grocery store - taxpayer was voted the most friendly employee $ A watch - for working at the company for 10 years (employer provides a milestone gift at the 10 year mark) Weekend getaway in Mexico - given by employer for signing up the most new cu: $ A holiday gift (various household gifts) 900 $ $ 10 100 $ 450 1,100 75
