Disability benefits will he receive - $2,000 per month
What is benefits?
Employee benefits as well as benefits in kind (also known as perks and benefits, perquisites, or perks) are non-wage compensation offered to employees in addition to their regular wages or salaries. A "salary packaging" or "salary exchange" arrangement occurs when an employee exchanges (cash) wages for some other type of benefit. Most types of employee benefits are subject to taxation to some extent in most countries. Housing furnished or unfurnished, including or without free utilities; group insurance (health, dental, life, and so on); disability income protection; pension benefits; daycare; tuition reimbursement; sick leave; vacation; social security; profit sharing; employer college loan contributions; conveyancing; long service leave; household staff (servants); and other specialised benefits are examples of these benefits.
Bart is entitled to receive loss of income benefit of $5,000 per month when his income is- $100,000 per year. Due to a disability, his income is reduced to $60,000 per year.
(Using simple unitary method)
When income was $100,000- benefit to be received $5,000/month
When income is $1(using unitary method)- benefit to be received will be $5,000/$100,000
When income is $60,000- benefit to be received will be $5000/$100,000*$40,000(amount of income reduced by)
which is equal to $2,000/month
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