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Did you know…

If an employer provides a
free party or social event to all its
employees and the cost is $150 per person or
less, it is not considered to be a taxable benefit.
Transportation and accommodation costs are not included
in the $150 per person amount. If the cost of the
party is greater than $150 per person, the
entire amount will be considered
to be a taxable benefit.

Did you know…

If an employee is paid a flat rate vehicle allowance, which is not based on kilometres travelled, the allowance will be a taxable benefit to the employee. If it is taxable, the employer will also have to deduct CPP, EI and income tax from the payment. The employee may be able to claim employment expenses on their personal tax return as a deduction to offset this taxable benefit.