age 1 of 49
Payroll Fundamentals 1 FINAL EXAM QUESTIONS AND
VERIFIED CORRECT ANSWERS || 100% GUARANTEED
PASS <BRAND NEW VERSION>
RQ and CRA define a car allowance as reasonable if:
......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
,age 2 of 49
Personal Driving includes: ......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: ......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) ......ANSWER........The number of thirty-
day periods that the automobile is available to the employee
,age 3 of 49
for the current taxation year. The employee has access to or
control over the vehicle.
Automobile ......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
......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):
......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
, age 4 of 49
- 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 ......ANSWER........-
Earnings
- Allowances
- Benefits
- Taxable expense reimbursement
Earnings ......ANSWER........Dollar amounts the employer pays an
employee for the work they perform
Types of earnings ......ANSWER........- a salary
Payroll Fundamentals 1 FINAL EXAM QUESTIONS AND
VERIFIED CORRECT ANSWERS || 100% GUARANTEED
PASS <BRAND NEW VERSION>
RQ and CRA define a car allowance as reasonable if:
......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
,age 2 of 49
Personal Driving includes: ......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: ......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) ......ANSWER........The number of thirty-
day periods that the automobile is available to the employee
,age 3 of 49
for the current taxation year. The employee has access to or
control over the vehicle.
Automobile ......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
......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):
......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
, age 4 of 49
- 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 ......ANSWER........-
Earnings
- Allowances
- Benefits
- Taxable expense reimbursement
Earnings ......ANSWER........Dollar amounts the employer pays an
employee for the work they perform
Types of earnings ......ANSWER........- a salary
