Question 1 1 Point With respect to employment related automobile costs and benefits, which of the following statements is correct? When an employee is provided with an automobile that is purchased by the employer for $50,000, the taxable benefit to the employee will be based on the Class 10.1 prescribed limit of $30,000. If an employee drives an employer provided vehicle for 20,004 kilometers or more for personal purposes during a year, there will be no reduction of the basic standby charge. An employee who uses their own vehicle for employment purposes cannot deduct any financing costs related to the purchase of the car. An employee who is provided with a vehicle owned by the employer can deduct CCA to the extent that the vehicle is used for employment purposes.

Question 2

1 Point

Indicate which of the following benefits provided by an employer is NOT considered part of employment income.

Travel expenses of the employee's spouse where the spouse's presence was not required.

Individual premiums under provincial hospitalization plans.

Periodic payments from wage loss replacement plan designed to replace employment income.

Reimbursement of moving expenses as a result of an employer required move.

Premiums paid by an employer on life insurance policies.

Question 3

1 Point

Indicate which of the following benefits provided by an employer is considered part of employment income.

Premiums under private health services plans.

Subsidized meals provided in employer facilities where the employees pays an amount equal to or greater than the employer's cost.

Low rent housing in non-remote or non-special work sites.

Uniforms and special clothing required to protect employees from hazards.

Question 4

1 Point

Which of the following is NOT a taxable benefit?

Payment of the tuition for an employee completing a general interest degree on a part-time basis that has no benefits to the employer.

Low rent housing provided by the employer in non-remote or non-special work sites.

A 20% discount on employer merchandise, available to all employees. The employer's mark-up is 50%.

A cash Christmas gift to an employee from the employer. All the employees received a cash bonus of $150.

Question 5

1 Point

Which of the following employee reimbursements would result in an increase in employment income?

Moving costs reimbursement of $20,000 for employer required move.

Housing loss reimbursement of $20,000

Employment related tuition reimbursement of $20,000

Travel expense reimbursement of $20,000 for employer related travel.