Textbook Notes (369,072)
Canada (162,367)
Accounting (533)
ACC 522 (18)
Kevin Tran (15)
Chapter 4

ACC522 - Chapter 4 Notes

2 Pages

Course Code
ACC 522
Kevin Tran

This preview shows 80% of the first page. Sign up to view the full 2 pages of the document.
ACC522 – Chapter 4 Employee or Contractor (4 tests) - Control test - Ownership tools test - Integration test - Chance of profit/loss test Non-cash gifts under $500 = NOT TAXABLE Automobile Taxable Benefit = Operating + Standby Charge Standby Charge If owned by employer Standby Charge = Vehicle cost x 2% x # months available to employee If leased by employer Standby Charge = Monthly lease cost x 2/3 x # months available to employee Operating Benefit (based on personal use) Operating Benefit = prescribed rate ($0.24 in 2011) x # of personal km driven IF AUTOMOBILE USED FOR BUSINESS PURPOSES (OVER 50%) Operating Benefit = Standby Charge (Reduced Standby Charge if applicable) x ½ Reduced Standby Charge = 1,667 km/month = approx 20,000 km /year Stock Options Public Corporation Public Corporation CCPC @ Grant Time (Today) In the Money Out of the Money @ Time of Exercise Taxable Benefit Taxable Benefit x ½ @ Time of Sale Capital Gain Capital Gain Taxable Benefit
More Less
Unlock Document

Only 80% of the first page are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.