| Net salary | $84,746 |
| Withholding by employer from salary |
| | Income tax | $42,000 | |
| | Registered Pension Plan | 8,400 | |
| | Canada Pension Plan | 2,594 | |
| | Employment Insurance | 858 | |
| | Group term life insurance | 750 | |
| | Group disability insurance (40% of total premium) | 400 | |
| | Payment for personal use of company car | 2,100 | 57,102 |
| Total salary | $141,848 |
| Travel allowance paid by employer | $ 8,100 |
| | ($135 per day for 60 days; actual reasonable travelling expenses for 2018 were $10,665, consisting of $2,400 for meals, $4,400 for accommodation, and $3,865 for air and ground transportation) | |
| Book value of company-owned automobile | 31,280 |
| | (original capital cost in November 2017 of $32,000, plus 13% HST; capital cost allowance claimed by company in 2018 of $7,650; operating costs paid by employer for 2018 of $9,575, including HST) | |
| Payment received from group disability plan while disabled by falling off a loading dock while counting inventory | 3,750 |
| | (she paid premiums of a total of $1,200 since commencing employment in 2014 and she has not received benefits previously) | |
| Employer contributions |
| | Group term life insurance policy Premium | 450 | |
| | Group disability insurance plan (60% of premium) | 600 | |
| | Liberty Health extended medical insurance premium | 900 | |
| | Ontario health payroll tax | 1,100 | |
| | Registered Pension Plan | 8,400 | |
| Proceeds received from sale of 100 shares of stock (representing less than 1% of all shares) acquired under the employee stock option plan at an option price of $10 per share | 1,500 |
| | (when she was granted the option in 2014, the fair market value of the stock was $12; when she exercised the option in 2014, the fair market value was $13) | |
| Fees paid by company for University of Waterloo correspondence course in philosophy taken on Ms. Tax's own initiative on her own time | 950 |
| Donation to Lower Taxes Party of Canada, a registered political party | 100 |
| Premium paid by Ms. Tax on personal whole life insurance policy | 500 |
| Membership fees paid by Ms. Tax to athletic club | 900 |
| Interest received on Canada Savings Bonds purchased through payroll savings plan | 200 |
| Birthday gift paid in cash under company policy and deducted by employer | 200 |
| Cost (including all taxes) to company of her eating lunch once per month in the executive dining room at no charge | 300 |
| Interest paid to company on a $10,000 loan for unanticipated expenses; the loan was outstanding throughout 2018 at a rate of 1% | 100 |
| | (assume that the prescribed rates for 2018 are: 2%, 3%, 4%, and 3% for the first, second, third, and fourth quarters, respectively) | |
| Value of internal auditor's required uniform consisting of green eyeshade, elastic armbands, white blouse, and dark grey suit (three sets), all tastefully monogrammed with the firm's logo and provided by the company | 2,700 |
| Premium paid by Ms. Tax for Liberty Health private dental insurance | 500 |
| Dues paid by Ms. Tax to the Institute of Internal Auditors, a professional body recognized by legal statute | 450 |
| Gain on sale of shares purchased as a result of a stock tip given by Uncle Stan who was told by a friend that Underground Airways stock was about to take off | 1,200 |
| Bonus payable on December 31, 2018 but not paid to Ms. Tax until January 2019 | 4,000 |
| Expenses paid by company for Ms. Tax's husband who accompanied her on an auditing trip to Moosonee | 2,050 |
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