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Canada Revenue Agency Updates Employer’s Guide to Taxable Benefits and Allowances
Tax Development Nov 25, 2015
Tax Development Nov 25, 2015
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.