Textbook Notes (367,976)
Canada (161,540)
York University (12,784)
ADMS 3520 (42)
Chapter 3

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Department
Administrative Studies
Course
ADMS 3520
Professor
Hernan Humana
Semester
Fall

Description
CHAPTER 3 Home Relocation LoanIf employee loan is made by employer to assist in a move that is at least 40 km closer to the new work location there is an exemption on the calculation of the taxable benefit of the employee loanThe exemption reduces taxable income not employment incomeHome Relocation LoanThe exemption is calculated as 25000 x Prescribed RateExemption is available for 5 years provided the loan to employee is still outstandingNew location must be 40km closer to the new work location
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