ACCO 340 Lecture Notes - Lecture 2: Canada Pension Plan, Qst, Unemployment Benefits
25 Jan 2017
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Cash basis only the cash from january to december. Canada pension plan (cpp) -> employee and employer portion: self-employed two times the portion. Employment insurance (ei) : self-employed doesn"t need to have ei. Opportunity for tax evasion: self-employed can reduce the declaration. Gst / qst: self-employed needs to charge gst / qst. The courts have looked at a number of tests: List the tests used to decide or case: this is the case, is he er or ee (why er and why ee, and conclusion) Ownership of tools and equipment: who owns it. Ability to subcontract and hire assistant: who controls how much to pay and decision if needs to be hire. Financial risk: who get hits when profit/loss. Responsibility for investment and management: expenses paid by who. Opportunity for profit: specific salary (ee) vs company profit (er) Non taxable (0$, doesn"t higher income, less taxes) Employment inclusions (add to the income, higher taxes)
