Taxable Benefits & Allowances
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Important: This is an interactive seminar. Please ensure you have access to a microphone and camera for full participation.
This seminar will show you how to avoid the most common compliance issues found in CRA and Revenu Québec (RQ) audits.
Your National Payroll Institute instructors will guide you through an in-depth review of applicable legislation and regulations, and explain the key concepts used by CRA and RQ to evaluate taxability and assess more than 40 common benefits, including automobile allowances, loan and stock options, and gift cards.
Throughout the seminar, an additional focus will be placed on one of the most common audit issues: excluding taxable benefits and allowances from employment income.
How to access your session:
One to three business days before the live event, you will be sent information on how to access your online seminar. If you do not receive the login information within this timeframe, please check your email SPAM folder. If it's not there, please contact membership@payroll.ca as soon as possible.
Taxable Benefits Legislation
- Determining and applying taxable benefits values
- Acts, statutes and regulations
- Administrative policy
- Allowances vs. expense reimbursements vs. taxable benefits
Sales Tax Issues
- GST/PST/QST/HST and other provincial taxes
- Withholding, remitting and reporting
Automobile Benefits and Allowances
- Definition, calculation
- Deduction and reporting
- Benefit components
- Personal/business use
- Reduction of the automobile benefit
Loans and Stock Options
- Employee loans
- Forgiven amounts
- Stock options/stock purchase plans
Other Benefits and Allowances
- Taxable vs. non-taxable benefits, allowances
- Counselling fees and services, parking, awards, gifts, etc.
- Car, meal, clothing and moving allowances
- Source deductions
- Year end reporting
- Exceptions
After registering online for this event, you will receive an email confirmation approximately 2 business days after the registration has been processed.
One to three business days prior to the live event, you will be sent information on how to access your online seminar.
Cancellations or Transfers: requests must be received in writing at least four (4) business days prior to the online seminar date. Please note a cancellation fee or transfer fee in the amount of $50 plus applicable taxes will be applied. Cancellation or transfer requests received after the login information has been provided are not eligible for a transfer or refund.