BUS 329 Study Guide - Midterm Guide: Deferred Income, Advantageous, Crowdfunding

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Look @ cheque date to determine when income has been made: employment income = net concept inclusions (salary) + deductions (rpp, union dues) Ir-470r non-taxable benefits: merch (employee) discounts, subsidized meals (cafeteria, school services in remote areas, job transportation in employer vehicles (e. g. company van that carpools, use of in-house rec facilities. If want non-in-house membership, becomes taxable benefit: transportation passes for airline/bus/rail companies (e. g. discount, free ticket, moving exp reimbursement cost of moving, private healthcare, uniforms. Leasing = lower taxable benefit ( lower cost) returned: have 50%+ for work km, longer lease terms, record keeping, leasing vs buying, min standby charge, avoid luxury car, higher standby charge, pay employees to use own cards. Interest-f(cid:396)ee o(cid:396) (cid:396)ate that is (cid:271)elo(cid:449) goi(cid:374)g (cid:373)a(cid:396)ket (cid:396)ate, ha(cid:448)e ta(cid:454)a(cid:271)le (cid:271)e(cid:374)efit (cid:272)al(cid:272)ulated as (cid:862)p(cid:396)es(cid:272)(cid:396)i(cid:271)ed (cid:396)ate(cid:863) (imputed interest rate: taxable benefit = imputed interest interest paid.

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