Gifts, awards and employer events are great for recognition, but getting the tax treatment wrong can create unexpected compliance risks.
This webinar walks you through the most common payroll mistakes employers make when providing gifts, awards and hosting employee events. You’ll learn how to apply the $500 exemption correctly, avoid common gift card pitfalls and determine when employer-sponsored events create a taxable benefit.
This is your opportunity to discuss real-life scenarios to obtain practical guidance to stay compliant, without the guesswork.
Participants can email questions ahead of time to infoline@payroll.ca.
About the Facilitator
Klea Jokic, PLP
Payroll Compliance Advisor, National Payroll Institute
Klea Jokic, PLP, holds a Payroll Leadership Professional designation from the National Payroll Institute, Certificate in Fundamentals in Retirement Plans from the International Foundation of Employee Benefit Plans and Adult Teaching Certificate from Jane Norman College. As part of the team of Compliance Advisors, Klea assists members with payroll inquiries and develops resources for professional growth.
Note: Continuing Professional Education (CPE) hours will be applied to your current cycle at the time of registration.
How to access your recorded webinar:
After registering for a recorded webinar, a confirmation containing login information is sent approximately 2 business days after the registration has been processed. If you do not receive the login information, check your email SPAM folder. If it's not there, please contact membership@payroll.ca.
You will have access to the recorded webinar 24 hours after receiving the login information.
Upon completion of this 2.5-hour webinar, learners will be able to do the following.
Definitions and Benefit Types
- Explain gifts, awards and rewards and determine when each is taxable or non-taxable under the Canada Revenue Agency (CRA) and Revenu Québec (RQ) rules; and
- Distinguish between cash, near-cash and non-cash benefits and explain the tax treatment of each.
Gifts and Awards (the $500 Rule and Exceptions)
- Apply the annual $500 exemption for gifts and awards and identify when amounts become taxable;
- Analyze common gift and award scenarios and determine the correct tax treatment; and
- Identify exceptions.
Long-Service Awards
- Explain eligibility criteria and limits for non-taxable long-service awards and determine when they become taxable; and
- Evaluate length-of-service recognition scenarios and determine the correct tax treatment.
Employer Events and Hospitality Functions
- Interpret the CRA and Revenue Québec rules for employer-sponsored events (social events, hospitality functions) to determine when benefits are taxable; and
- Calculate the employee taxable benefit (if any) for events based on cost thresholds, frequency and attendance circumstances.
Payroll Reporting, Risk and Application
- Determine payroll reporting and withholding requirements for taxable benefits;
- Identify common errors in payroll practices related to gifts, awards and events; and
- Recommend compliant approaches, documentation practices and internal controls to reduce audit and reassessment risk.
After registering for a recorded webinar, a confirmation containing login information is sent approximately 2 business days after the registration has been processed.
You will have access to the recorded webinar 24 hours after receiving the login information.
Cancellations: No refunds will be issued once the email containing the login information has been provided.