Taxable Benefits & Allowances

Avoid government audits. Know the rules on the more than 40 common taxable benefits and allowances included in employment income, such as automobile allowances, loan and stock options, gift cards, and more. Make sure your employer is accurately withholding, remitting and complying with year-end reporting requirements.

Avoid the most common compliance issues found in CRA and Revenu Québec audits.

One of the most common audit issues is excluding taxable benefits and allowances from employment income. Employers are responsible for: determining whether the benefits they offer are taxable to their employees, adding the value of those benefits to reportable income; and, withholding, remitting and reporting the required statutory deductions to Canada Revenue Agency (CRA) and Revenu Québec (RQ). This seminar offers an in-depth review of applicable legislation and regulations and explains 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, gift cards and more.

Who should attend:

All payroll/human resources professionals or anyone responsible for calculating taxable benefits and allowances for employees within their organization.

Register early and save - Early bird rates apply until two weeks prior to the seminar.

For certified members, this seminar counts toward 7.5 hours of continuing professional education.

The curriculum covers:

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

Your registration includes: seminar presentation, course reference manual and handouts, exercises with answers, continental breakfast, lunch and refreshments for all breaks.

Dress code is business casual. Please dress in layers to accommodate temperature fluctuations.

CANCELLATIONS OR SEMINAR TRANSFER: Requests must be received in writing at least five (5) business days prior to the seminar date. Please note a cancellation fee or transfer fee in the amount of $50 plus applicable taxes per day/per registrant for all sessions cancelled or transferred will apply. Cancellation or transfer requests received less than 5 business days prior to the seminar date are not eligible for transfer or refund.

FOR ANY QUESTIONS or concerns regarding this registration, please contact member services at membership@payroll.ca

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