Canada Revenue Agency Updates Employer’s Guide to Taxable Benefits and Allowances

The Canada Revenue Agency (“CRA”) has released an updated version of publication T4130, “Employer’s Guide - Taxable Benefits and Allowances”. This guide explains an employer’s responsibilities in determining taxable benefits and how to calculate the value of benefits and allowances, including the GST/HST treatment of such benefits.

New for this year is the requirement to include tickets given to employees as a taxable benefit on T4 slips. The latest guide also includes updated taxable benefit factors, and automobile benefit factors and rates.