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Sarah works for a small company in Ontario that has had an exceptionally profitable year. Sarah's annual salary is $60,000. In recognition of the company's
Sarah works for a small company in Ontario that has had an exceptionally profitable year. Sarah's annual salary is $60,000. In recognition of the company's success and her contribution, she was given a performance bonus of 5% of her salary and a profit-sharing bonus that amounted to 3% of her salary. The company also provided her a vacation pay of 4% of her gross earnings for the year. Sarah is planning to file her taxes and is considering her income. 1-What was the total amount Sarah received from her performance bonus and profit-sharing bonus? 2-What was Sarah's gross earnings for the year including her salary, performance bonus, profit-sharing bonus, and vacation pay? 3Are these bonuses and vacation pay subject to income tax in Alberta? Sarah works for a small company in Ontario that has had an exceptionally profitable year. Sarah's annual salary is $60,000. In recognition of the company's success and her contribution, she was given a performance bonus of 5% of her salary and a profit-sharing bonus that amounted to 3% of her salary. The company also provided her a vacation pay of 4% of her gross earnings for the year. Sarah is planning to file her taxes and is considering her income. 1-What was the total amount Sarah received from her performance bonus and profit-sharing bonus? 2-What was Sarah's gross earnings for the year including her salary, performance bonus, profit-sharing bonus, and vacation pay? 3Are these bonuses and vacation pay subject to income tax in Alberta
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