Determine if a benefit is taxable
Overview: What is a taxable benefit
Before you calculate, you need to:
- Determine if a benefit is taxable
- Calculate the value of the benefit
Types of benefits
Make your selection
- Motor vehicle – Allowances and reimbursements
- Automobile – Standby charges and operating expense benefits
- Board and lodging Keywords: Travel
- Cell phone and internet services
- Child care expenses
- Counselling services and tax preparation
- Disability-related employment benefits
- Educational allowances for children
- Employment insurance premium rebate
- Gifts, awards, and long-service awards
- Group term life insurance policies
- Housing or utilities
- Loans and employee debt
- Income Maintenance plans and other insurance plans
- Loyalty or other points programs
- Meals (overtime) or allowances
- Meals – Subsidized
- Medical expenses
- Merchandise discounts and commissions from personal purchases
- Moving expenses and relocation benefits
- ParkingKeywords: Travel
- Premiums under provincial hospitalization, medical care insurance, and certain Government of Canada plans
- Professional membership dues
- Recreational facilities and club dues
- Registered retirement savings plans (RRSPs)
- Scholarships, bursaries, tuition, and training
- Security options
- Social events and hospitality functions
- Spouse's or common-law partner's travelling expenses Keywords: Travel
- Tax-free savings account (TFSA)
- Tickets
- Tool reimbursements, allowances and rental payments Keywords: power saws tree trimmers forestry apprentice mechanics
- Transportation and airline passes Keywords: Travel
- Transportation to and from home Keywords: Travel
- Travel assistance benefits paid in a prescribed zone Keywords: Travel
- Travel allowance Keywords: Travel
- Uniforms and protective clothing
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