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Urgent!!! Need answer asap 1 ) Susan Smith commenced employment with Lion Mountain Experience ( LME ) , a public corporation, on January 1 ,

Urgent!!! Need answer asap
1) Susan Smith commenced employment with Lion Mountain Experience (LME), a public corporation, on January 1,2023.
2) LME owns a suite of hotels and offered her the use of a unit at one of the hotels for $2,000 per month. The regular monthly rate for the unit was $5,000 per month. She moved into the hotel on January 1,2023 and lived there until June 30,2023. On July 1,2023, Susan moved into a townhouse she had purchased on May 1,2023.
3) To help her buy the townhouse, LME provided her with a $100,000 interest-free housing loan. The funds were provided to Susan on May 1,2023. Assume the prescribed rate throughout 2023 was 3%.
4) During 2023, Susan earned $175,000. This included several large bonuses due to her exceptional sales ability. The company withheld the following amounts from her salary:
a) Income tax $53,009.
b) CPP $ 3,500.
c) EI $ 1,002.
d) Registered Pension Plan Contributions (RPP) $ 2,500.
e) Payment for Personal Use of Automobile $ 1,200.
5) LME matched Susans contribution to the RPP (e.g., contributed $2,500 to her plan).
6) During the year Susan received two non-cash gifts from LME, a season ski pass worth $1,500 and a Christmas gift certificate which could be used at a variety of restaurants for $100.
7) Her favorite uncle visited her and went skiing with a day pass that Susan provided. He was severely injured in a fall while skiing. GME provided Susan with grief counselling services worth $665.
8) During the skiing season, Susan bought a number of daily ski passes for friends and family using LMEs 15% corporate discount which is available to all employees. The value of the savings from these discounts totalled $2,200.
9) LME provided Susan with a membership in the exclusive Alpine Ski Club and Spa. The cost of the membership was $5,000. Susan took her clients there for meals and drinks. LME paid all the charges on her account as they were related to potential clients for LME. The cost in 2023 was $22,200.
10) Susan was granted an option to buy 100 shares of the companys shares at $100 per share when she started with the company. At that time the shares were trading for $94.00 per share. On May 10,2023, the shares are trading at $145 per share and Susan exercises her option and buys 50 shares for $5,000. She is still holding the shares on December 31,2023.
11) LME provides Susan with a luxury vehicle that she uses to drive her clients on tours and to and from the airport. It was purchased by the company in late 2022 for $120,000 inclusive of all sales taxes. The vehicle was used by Susan throughout 2023. During the year she drove the vehicle 102,000 kilometers, of which 90,000 kilometres were related to her employment duties. LME pays all operating and maintenance costs which totalled $23,000 in 2023. LME withheld $1,200 from her December salary to pay for her personal use of the vehicle in 2023.
12) Susans job requires her to meet clients all hours of the day and night. LME provides her with a signed T2200 stating that she is required to pay for certain employment expenses without reimbursement and use a portion of her home for work. Susan has set up an office in her home. The office (work space) occupies 600 square feet of the 2,000 square feet available in her townhouse. She used this space between July 1 and December 31,2023.
a. Work space related expenditures are as follows:
i. Month maintenance (for 6 months) $ 7,400
ii. Hydro (for 6 months) $ 450
iii. Property Insurance (for 6 months) $ 1,575
iv. Property Tax (for 6 months) $ 2,600
v. Big Screen TV to entertain clients $ 2,600
vi. Office Furniture $ 5,600
vii. Furniture for client entertainment area $12,400
13) Susan received an allowance of $500 per month for the 6 months to cover the cost of maintaining a work space in the home.
True or False Questions:
1. The standby charge that Susan would have to include in her employment income (rounded up to the nearest dollar) is $21,237
True/False
2. Susan's home office expense deduction is $2,355.
True/False
3. Susan's taxable benefit on her housing loan is $2,000.
True/False
4. The stock option benefit that Susan must include in her employment income is $1,125.00
True/False
5. The Registered Pension Plan contribution that the employer made to Susan's Registered Pension Plan does not need to be included in her employment income.
True/False
6. Susan's counselling sessions in the amount of $665 would be taxable, since they related to something that happened to her Uncle.
True/False
7. Susan's hotel stay in Calgary is completely tax free.
True/False
8. Susan's Net Employment Income in 2023 is $221,287.
True/False
9. Susan's payment for the personal use of the automobile reduce her total taxable automobile benefit for net employment income calculation purposes.
True/False
10. Income taxes withheld of $53,009 are deducted in computing Susan's net employment income.
True/False

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