Reference no: EM132783289

Questions -

Q1) An employee who is not a salesperson, qualifies to claim 15% of their house expenses. The house expenses are mortgage interest of $7,000. Insurance of $200, utilities of $2,500, maintenance of $800 and property taxes of $1,800. What maximum amount would be claimed as an employment expense?

a) $795

b) $1845

c) $375

d) $495

Q2) An employee received the following: In 2020, a monthly salary: in 2021, a bonus based on performance in 2020, director's fees, and in 2020, a commission based om sales made in 2019. Which of the above amounts would not be included in the employee's 2020 employment income?

a) The bonus received in 2021 even though it was based on performance in 2020.

b) The commission received in 2020 as it was based on 2019 sales. The commission should have been included in 2019 employment income.

c) The monthly salary

d) The director's fee as directors would not be considered as employees of the payer. The fees would be included in income in 2020 but not as employment income.

Q3) An employee qualifies to claim travel expenses. They use their personally leased vehicle, costing $900/month. While travelling, they incur costs for gas of $2,000, repairs of $800, and parking during work of $300. Of the 25,000 km driven in the year, 15,000 km were work related. No amounts were paid or reimbursed by the employer. What would be the claim for travel expenses?

a) $4,960

b) $8,460

c) $12,400

d) 7,740