ADMS 3520 Chapter Notes - Chapter 3: Disability Insurance, Tax Avoidance, Downside Risk

• School: York University
• Department: Administrative Studies
• Course: ADMS 3520
• Professor: Thaddeus Hwong

Document Summary

Ita 8(1)(f) traveling expense other than motor. Ita 8(1)(j) motor vehicle capital cost: critical allowances. Ita 6(1)(b)(v) reasonable allowance for traveling expense paid during period which employee was salesperson. Ita 6(1)(b)(vii) reasonable allowance for traveling expense for employees other than salesperson, not including motor vehicle. Ita 6(1)(b)(vii. 1) reasonable allowance for use of motor vehicle for employees other than salesperson: taxable vs non-taxable allowance, non-taxable allowances reasonable allowance paid, non taxable and not included in e(cid:373)plo(cid:455)ee"s i(cid:374)(cid:272)o(cid:373)e (cid:396)e(cid:272)o(cid:396)ds, (cid:271)ut (cid:272)a(cid:374)"t dedu(cid:272)t (cid:272)ost. E(cid:454)(cid:272)eedi(cid:374)g (cid:272)ost is out of his po(cid:272)ket, and less cost, can cash the extra: taxable allowance non-(cid:396)easo(cid:374)a(cid:271)le allo(cid:449)a(cid:374)(cid:272)e, i(cid:374)(cid:272)luded i(cid:374) e(cid:373)plo(cid:455)ee"s t(cid:1008) i(cid:374)fo(cid:396)(cid:373)atio(cid:374) Return, deduction based on employment related expense according to net employment income, if cost exceed allowance, having allowance in income is advantageous. If per km allowance exceeds prescribed amount deductible for business, considered unreasonable: 2017 prescribe is 0. 54$ per km for first 5000km, 0. 48$ per.