Under What Condition Is the Fringe Benefit of a Gym

question 51

Multiple Choice

Under what condition is the fringe benefit of a gym membership taxable?

• A)When the employer has on-site facilities that are open to public use.
• B)When the employer has on-site facilities that are restricted to employee use.
• C)Gym memberships are always taxable.
• D)When the employer offers membership to an off-site club at no additional cost to the employee.

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Definitions:

Regulatory Approach

Strategies and actions taken by government or organizations to control or direct activities, often through rules and regulations.

Market Signals

Information or indicators derived from market behavior that help to inform decisions or predictions about future economic activities.

Special Interest Influence

The impact that interest groups or lobbyists can have on policymaking, often aiming to benefit a specific sector or group.

Property Rights

Legal rights to use, control, and dispose of property, including real estate, personal property, and intellectual property. These rights convey the benefits and responsibilities of ownership.