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Rakes Foods, located in Alberta, provides its employees with group term life insurance coverage of two times the employees annual salary. For Louise Davis coverage
Rakes Foods, located in Alberta, provides its employees with group term life insurance coverage of two times the employees annual salary. For Louise Davis coverage of $85,000.00, Superior Foods pays an annual premium of $1170.00. As Louise is paid on a bi-weekly basis, the non-cash taxable benefit to be included in her gross pensionable and taxable bi-weekly income then what would be the taxable benefit ?
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