Answered: An independent contractor or…

An independent contractor or self-employed person's employer is not required to deduct taxes, CPP, and EI from their gross salary. True False

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 17Q: What are examples of involuntary deductions employers are required to collect for employee and...

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Concept explainers

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.

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An independent contractor or self-employed person's employer is not required to deduct taxes, CPP, and EI from their gross salary.

True

False

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