Which one of the following benefits received from an employer would NOT result in a taxable benefit or taxable allowance to the employee?

A reasonable allowance of $$0\mathrm{.}45$ per kilometer for driving on employer business.

An interest free loan used to acquire shares of the employer.

Employer paid life insurance premiums for $$20,000$ of employee coverage where the employee is the beneficiary.

Use of the employer's automobile which is used $95\%$ for employment purposes.

Which of the following is NOT a taxable benefit?

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

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

A $20\%$ discount on employer merchandise priced to sell at $$100$ or less that is available to all employees. The employer's mark$-$up is $50\%$

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

Indicate which of the following benefits provided by an employer is considered required to be included in employment income.

Subsidized meals provided in employer facilities where the employees pay an amount equal to the employer's cost.

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

Premiums under private health services plans $($PHSP$)$

Uniforms and special clothing required to protect employees from employment hazards.

In which one of the following lists are ALL items relevant to the determination of employment income?

Employee RPP contributions; signing bonus on accepting employment; use of an employerowned automobile.

Monthly automobile allowance: group dental plan premiums paid for by the employer; promotion or advertising expenses incurred: selling the employer's products.

Subsidized meals at an employer's remote work site; life insurance paid by the employer where the beneficiary is the employee; legal fees incurred to collect unpaid salary.

Tips and gratuities; group dental insurance premiums paid by the employer; exercise of options to purchase shares of the publicly traded employer.

Which of the following items is NOT a taxable income deduction for an individual?

Worker's compensation payments received as a result of injury.

A current year business loss

A deduction for residing in a prescribed northern zone.

A net capital loss.

During the year, Ted Knight received worker's compensation payments totaling $$10,000$ as a result of an injury he suffered at work. His only other income for the year was employment income of $$25,000.$

Which one of the following represents Ted's net income and taxable income for the year?

Net Income $$25,000,$ Taxable Income $$25,000$

Net Income $$30,000,$ Taxable Income $$30,000.$

Net Income $$35,000,$ Taxable Income $$25,000.$

Net Income $$35,000,$ Taxable Income $$35,000$

Which of the following statements with respect to the calculation of an individual's income tax payable is correct?

Provincial and territorial income tax payable is calculated by applying progressive rates to federal income tax payable.

Income that is not subject to provincial or territorial income tax is subject to an additional tax at the federal level.

The provincial or territorial income tax rate is based on the province or territory in which the individual spends the most number of days in the taxation year.

The applicable income tax rate varies both with the amount of income tax payable and the type of income.