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Sid works in the corporate office at Loblaw's and receives the following during the year: Salary: $52,000 Frequent flyer miles earned on business flights purchased
Sid works in the corporate office at Loblaw's and receives the following during the year: Salary: $52,000 Frequent flyer miles earned on business flights purchased with a personal credit card: 32,000 miles, with no cash value A long-service (non-cash) award for five years of service: $1,000 Christmas (cash) bonus: $800 Value of a wedding gift, as Sid got married in the current year: $300 How much of the items are taxable?
Choose the correct answer
A. $57,300
B. $53,600
C. $53,300
D. $54,100
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