Changes to taxable benefits


June 17th, 2009

Once in a while it seems that the Canada Revenue Agency recognizes the need to make things easier for the taxpayer.  Doesn’t happen often, but on June 11, 2009 they did exactly that, removing or reducing the tax payable on certain employment benefits.  Benefits that changed include overtime meals, loyalty programs (AirMiles for example), employees who have to take an employer provided vehicle home for night, and certain non-cash gifts or awards.  You can read all about it here.

http://www.cra-arc.gc.ca/E/pub/tp/itnews-40/README.html

Some of it is pretty technical, so you may want to talk to your accountant before making any changes.

Filed under: Business tax by David Boese No Comments »

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