BUS 329- Midterm Exam Guide - Comprehensive Notes for the exam ( 75 pages long!)

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Include (mark the tax act: employee stock options, deductions for payments a(cid:448)aila(cid:271)le fo(cid:396) so(cid:272)ial assista(cid:374)(cid:272)e a(cid:374)d (cid:449)o(cid:396)ke(cid:396)s" (cid:272)o(cid:373)p (cid:396)e(cid:272)ei(cid:448)ed, home relation loans related to taxable benefit incl in employment income. Lump sum payments deduction for certain lump sum pymts; provides basis for taxing this amt as though received over several taxation yrs. I(cid:374)(cid:272)o(cid:373)e f(cid:396)o(cid:373) e(cid:373)plo(cid:455)(cid:373)e(cid:374)t (cid:449)/p(cid:396)es(cid:272)(cid:396)i(cid:271)ed i(cid:374)t"l o(cid:396)gs: social assistance pymts remove from ni. 11474 which is why we can earn 11474 tax free: refundable, non-refundable. Income > base, then reduce base to certain level: tax credit > tax deduction, credit educes tax payable dollar for dollar, but deduction just lowers the taxable income, credit always applied @ lower rate. Personal tax credits: family caregiver amt (fca) = used to offset costs of caring for a dependant w/physical or mental impairment (infirm) Is available to indvs who are single, widowed, divorced, separated & supporting a dependant who is:

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