BUS 329 Chapter Notes - Chapter 3: Pension, Disability Insurance, Financial Risk

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 329
• Professor: Susan Bubra

Document Summary

Might receive payments by sitting at the board. Ita 5(1) income from office or employment. A ta(cid:454)pa(cid:455)er"s i(cid:374)co(cid:373)e for a ta(cid:454)atio(cid:374) (cid:455)ear fro(cid:373) a(cid:374) office or e(cid:373)plo(cid:455)(cid:373)e(cid:374)t is the salar(cid:455), wages, and other remuneration, including gratuities, received by the taxpayer in the year. On july 25, 2016, martin ltd. declares a bonus of ,000 in favor of one of its e(cid:373)plo(cid:455)ees, roger jo(cid:374)es. Individual wants to separate the bonus for tax purposes. Must be paid within 180 days after the period ending date. The bonus is paid after december 31, 2016 and before january 28, 2017. The bonus is paid after january 27, 2017 and before july 31, 2017. Salary deferral arrangements if not paid within 3 years of the end of the calendar year in which the employee rendered the services. Availability of deductions deduct expenses that runs on business. Withholding vs instalments responsible to pay taxes on their owns. Less of a commitment than to an employee.