Which taxable capital gain is defined as

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Question 1: Indicate which of the following benefits provided by an employer is NOT considered part of employment income.

a. Reimbursement of moving expenses.

b. Travel expenses of the employee's spouse.

c. Payments resulting from wage loss replacement plans.

d. Premiums paid by an employer on life insurance policies.

Question 2: A Taxable Capital Gain is defined as:

a. 50% of a Capital Gain realized in a taxation year

b. Capital Gains minus Capital Losses realized in a taxation year

c. Taxable Capital Gains minus Allowable Capital Losses in a taxation year.

d. Taxable Capital Gains minus 50% of Capital Losses in a taxation year

Question 3: Which of the following educational fringe benefits would be taxable income to the employee?

a. A law firm pays the costs of a cooking class for any of its employees who want to take it.

b. An employer pays the cost of a corporate tax update class for its tax director.

c. An employer pays the costs of a leadership skills class for its director of training.

d. An employer pays the costs of a business communications class for any of its employees who want to take it.

Reference no: EM132603933

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