June 17th, 2009
Once in a while it seems that the Canada Revenue Agency recognizes the need to make things easier for the taxpayer. Â Doesn’t happen often, but on June 11, 2009 they did exactly that, removing or reducing the tax payable on certain employment benefits. Â 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. Â You can read all about it here.
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 »