Payroll Fundamentals 1 Questions With
Correct Answers
RQ and CRA define a car allowance as reasonable if: - CORRECT ANSWER✔✔--
| | | | | | | | | | | | |
The allowance is based solely on business kilometres driven in a calendar year
| | | | | | | | | | | |
- the amount provided is based on the following government-prescribed
| | | | | | | | | |
reasonable guidelines |
- $0.58 per km for the first 5,000 business km's in the year ($0,62 in the Yukon,
| | | | | | | | | | | | | | | | | |
NWT & Nunavut) | |
| - $0.51 thereafter ($0.56 for YK, NWT, NT)
| | | | | | |
- the employer does not reimburse the employee for expenses related to the
| | | | | | | | | | | | |
same use of the vehicle | | | |
Personal Driving includes: - CORRECT ANSWER✔✔-- vacation travel
| | | | | | |
- driving to conduct personal business
| | | | |
- travel between home and work, even if the employer insists the employee drive
| | | | | | | | | | | | | |
the vehicle home
| |
Business driving includes: - CORRECT ANSWER✔✔-- driving to existing and
| | | | | | | | | |
prospective clients, points of call, and other office locations of the employer
| | | | | | | | | | |
- when an employee travels directly from home to a point of call, which is not the
| | | | | | | | | | | | | | | |
|employer's place of business where the employee regularly reports for work
| | | | | | | | | |
- when the employees travels home directly from a point of call
| | | | | | | | | | |
,Availability (automobiles) - CORRECT ANSWER✔✔-The number of thirty-day
| | | | | | | |
periods that the automobile is available to the employee for the current taxation
| | | | | | | | | | | | |
year. The employee has access to or control over the vehicle.
| | | | | | | | | |
Automobile - CORRECT ANSWER✔✔-A motor vehicle that is designed or adapted
| | | | | | | | | | |
to primarily carry individuals on highways and streets, and has seating capacity of
| | | | | | | | | | | |
not more than the driver and eight passengers
| | | | | | | |
If a gift or award is given to an employee in cash - CORRECT ANSWER✔✔-The
| | | | | | | | | | | | | | |
amount is considered pensionable, insurable and taxable to the employee,
| | | | | | | | | |
subject to all statutory deductions
| | | |
Overtime meal allowance is considered non-taxable if (RQ): - CORRECT
| | | | | | | | | |
ANSWER✔✔-- overtime is done at the employer's request and is expected to last
| | | | | | | | | | | | |
for at least two consecutive hours
| | | | |
- overtime is done rarely or on an occasional basis
| | | | | | | | |
- the meal expenses are reimbursed upon presentation of receipts
| | | | | | | | |
- the meal expenses reimbursed or the value of the meal provided is reasonable
| | | | | | | | | | | | |
The four categories of employment income - CORRECT ANSWER✔✔-- Earnings
| | | | | | | | |
- Allowances
|
- Benefits
|
- Taxable expense reimbursement
| | |
Earnings - CORRECT ANSWER✔✔-Dollar amounts the employer pays an employee
| | | | | | | | |
for the work they perform
| | | | |
, Types of earnings - CORRECT ANSWER✔✔-- a salary
| | | | | | |
- a rate for each hour worked
| | | | | |
- a rate per piece of goods produced or picked
| | | | | | | | |
- a disability payment for time off work due to illness
| | | | | | | | | |
- a payment for vacation time
| | | | |
- a premium payment for overtime hours worked
| | | | | | |
- a premium payment for hours worked on shift
| | | | | | | |
Allowances - CORRECT ANSWER✔✔-Additional dollar amounts paid to employees
| | | | | | | |
for the use, or anticipated use, of their personal property for business purposes
| | | | | | | | | | | | |
Benefits - CORRECT ANSWER✔✔-Dollar values attributed to something the
| | | | | | | | |
employer has either provided to an employee or paid for on an employee's behalf
| | | | | | | | | | | | |
Expense Reimbursements - CORRECT ANSWER✔✔-Dollar amounts paid to
| | | | | | | |
employees to cover expenses that they incur while performing their job.
| | | | | | | | | |
Regular payments - CORRECT ANSWER✔✔-Have an established frequency, such
| | | | | | | | |
as weekly-paid salary or wages
| | | |
Non-regular payments - CORRECT ANSWER✔✔-payments that do not occur each
| | | | | | | | | |
pay period, for example, a bonus or a retroactive adjustment
| | | | | | | | |
Correct Answers
RQ and CRA define a car allowance as reasonable if: - CORRECT ANSWER✔✔--
| | | | | | | | | | | | |
The allowance is based solely on business kilometres driven in a calendar year
| | | | | | | | | | | |
- the amount provided is based on the following government-prescribed
| | | | | | | | | |
reasonable guidelines |
- $0.58 per km for the first 5,000 business km's in the year ($0,62 in the Yukon,
| | | | | | | | | | | | | | | | | |
NWT & Nunavut) | |
| - $0.51 thereafter ($0.56 for YK, NWT, NT)
| | | | | | |
- the employer does not reimburse the employee for expenses related to the
| | | | | | | | | | | | |
same use of the vehicle | | | |
Personal Driving includes: - CORRECT ANSWER✔✔-- vacation travel
| | | | | | |
- driving to conduct personal business
| | | | |
- travel between home and work, even if the employer insists the employee drive
| | | | | | | | | | | | | |
the vehicle home
| |
Business driving includes: - CORRECT ANSWER✔✔-- driving to existing and
| | | | | | | | | |
prospective clients, points of call, and other office locations of the employer
| | | | | | | | | | |
- when an employee travels directly from home to a point of call, which is not the
| | | | | | | | | | | | | | | |
|employer's place of business where the employee regularly reports for work
| | | | | | | | | |
- when the employees travels home directly from a point of call
| | | | | | | | | | |
,Availability (automobiles) - CORRECT ANSWER✔✔-The number of thirty-day
| | | | | | | |
periods that the automobile is available to the employee for the current taxation
| | | | | | | | | | | | |
year. The employee has access to or control over the vehicle.
| | | | | | | | | |
Automobile - CORRECT ANSWER✔✔-A motor vehicle that is designed or adapted
| | | | | | | | | | |
to primarily carry individuals on highways and streets, and has seating capacity of
| | | | | | | | | | | |
not more than the driver and eight passengers
| | | | | | | |
If a gift or award is given to an employee in cash - CORRECT ANSWER✔✔-The
| | | | | | | | | | | | | | |
amount is considered pensionable, insurable and taxable to the employee,
| | | | | | | | | |
subject to all statutory deductions
| | | |
Overtime meal allowance is considered non-taxable if (RQ): - CORRECT
| | | | | | | | | |
ANSWER✔✔-- overtime is done at the employer's request and is expected to last
| | | | | | | | | | | | |
for at least two consecutive hours
| | | | |
- overtime is done rarely or on an occasional basis
| | | | | | | | |
- the meal expenses are reimbursed upon presentation of receipts
| | | | | | | | |
- the meal expenses reimbursed or the value of the meal provided is reasonable
| | | | | | | | | | | | |
The four categories of employment income - CORRECT ANSWER✔✔-- Earnings
| | | | | | | | |
- Allowances
|
- Benefits
|
- Taxable expense reimbursement
| | |
Earnings - CORRECT ANSWER✔✔-Dollar amounts the employer pays an employee
| | | | | | | | |
for the work they perform
| | | | |
, Types of earnings - CORRECT ANSWER✔✔-- a salary
| | | | | | |
- a rate for each hour worked
| | | | | |
- a rate per piece of goods produced or picked
| | | | | | | | |
- a disability payment for time off work due to illness
| | | | | | | | | |
- a payment for vacation time
| | | | |
- a premium payment for overtime hours worked
| | | | | | |
- a premium payment for hours worked on shift
| | | | | | | |
Allowances - CORRECT ANSWER✔✔-Additional dollar amounts paid to employees
| | | | | | | |
for the use, or anticipated use, of their personal property for business purposes
| | | | | | | | | | | | |
Benefits - CORRECT ANSWER✔✔-Dollar values attributed to something the
| | | | | | | | |
employer has either provided to an employee or paid for on an employee's behalf
| | | | | | | | | | | | |
Expense Reimbursements - CORRECT ANSWER✔✔-Dollar amounts paid to
| | | | | | | |
employees to cover expenses that they incur while performing their job.
| | | | | | | | | |
Regular payments - CORRECT ANSWER✔✔-Have an established frequency, such
| | | | | | | | |
as weekly-paid salary or wages
| | | |
Non-regular payments - CORRECT ANSWER✔✔-payments that do not occur each
| | | | | | | | | |
pay period, for example, a bonus or a retroactive adjustment
| | | | | | | | |
