Q.69. Ben Efit’s employer provides him with the following benefits during the 2022 taxation year: His employer contributed to the company’s registered pension plan on Ben’s behalf: $6,000.Group term life insurance coverage of $100,000; the premium for the coverage is $400.group sickness or accident insurance coverage; the premium paid is $550.A private health services plan with dental coverage; the premium is $800.Mental health counselling: $1,500.Public transit pass; the annual cost is $800.Determine the amount to be included in Ben’s net income for tax purposes for 2022. Show your work!

Services provided by employer other than salary is known as perquisites. Some perquisites are…

Answered: Ben Efit’s employer provides him with…

20th Edition

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Author:Murphy

Publisher:Murphy

Chapter4: Income Exclusions

Section: Chapter Questions

Problem 41P

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Q.69.

Ben Efit’s employer provides him with the following benefits during the 2022 taxation year:

His employer contributed to the company’s registered pension plan on Ben’s behalf: $6,000.
Group term life insurance coverage of $100,000; the premium for the coverage is $400.
group sickness or accident insurance coverage; the premium paid is $550.
A private health services plan with dental coverage; the premium is $800.
Mental health counselling: $1,500.
Public transit pass; the annual cost is $800.

Determine the amount to be included in Ben’s net income for tax purposes for 2022. Show your work!

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