MGST 217 Lecture Notes - Lecture 4: Accounting Equation, Pension, Unemployment Benefits

• School: University of Calgary
• Department: Management Studies
• Course: MGST 217
• Professor: Staff

Document Summary

Capital assets help the company to ear money over several years, tangible assets like a fleet of trucks. For example, if you buy a van that cost ten thousand years and you use it for 5 years then you are spending 2,000 dollars per year on the van. Different types of goods fall into different tax classes and you can deduct certain percentages of its value. Deduction from your paycheck that goes towards things like your employment insurance and canadian pension plan. Value added tax - gst (yearly or monthly expense) Under 30,000 dollars of revenue then you don"t have to collect gst. Larger businesses pay monthly, smaller businesses pay yearly.