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How much should be added to gross pay on each pay

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Problem 1. Jimmy works for a restaurant that provides free meals for every shift he works. The restaurant prices the cost of those meals at $4.50 per meal for taxable benefit purposes. Jimmy worked 9 shifts in the current pay period. How much would be added to his income for tax calculations?

Problem 2. Amelia works at BCIT and is provided a parking spot on campus. The Fair Market Value of this spot is $175 per month. Amelia is paid bi-weekly. How much should be added to her gross pay on each pay to correctly assess the taxable benefit?

Reference no: EM132767232

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