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CRA Provides Update on Employer-Provided Benefits and Allowances

If you are an employer who provides benefits or allowances to your employees, you know the importance of calculating taxable benefits accurately for payroll and T4 reporting purposes. In 2020, in response to COVID-19, the Canada Revenue Agency (CRA) provided administrative guidance on how to calculate specific employer-provided benefits and allowances, including commuting costs, parking, and home office equipment. These positions were extended to Dec. 31, 2021 and recently further extended to Dec. 31, 2022.

Read full article HERE: https://www.bdo.ca/en-ca/insights/tax/canadian-tax/employer-provided-benefits-allowances/?utm_campaign=2022-tax&utm_medium=eblast&utm_source=newsletter&mkt_tok=MTE5LVpJRi03NzAAAAGCF9UdZIyztK419nP3xyAZXokRz-04CcOYNI4FKLgUepjyRVYMwRcXfYomNgqMOFKFbaayYlH3xUaGdVqQcT3Htyjx2pWMFJRGyHmxbWalNw