Call us Now: 1.800.343.6133
In this economy, many workers are flocking to the oil sands in Alberta for good paying work to support their families back home. Workers will typically fly out and rent a small place to live near their new workplace. Naturally, this kind of move brings questions regarding the deductibility of these expenses on the workers’ ...
Learn more about Clarity On Oil Sands Workers and Their Travel Expenses »
A taxable benefit is a benefit provided by an employer to an employee which has to be added to the employee’s income and is therefore taxable. There are different factors that determine whether a benefit is taxable or not. Canada Revenue Agency (CRA) has a page called Benefits and Allowances, http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/bnfts/menu-eng.html, that explains which benefits ...
One of the largest and most important expenses on a company’s Income Statement is the Salaries and Benefits line. There are many employment-related benefits and many different factors that determine whether they are taxable or not. Finding ways to compensate employees without triggering a tax liability can be challenging. Canada Revenue Agency (CRA)’s rules on ...
Additional changes to the Canada Pension Plan (CPP) are just around the corner. Beginning January 1, 2012 changes to CPP will affect employees and their employers. Previously, if you were receiving CPP payments and still earning employment or self-employment income you and your employer were exempted from having to make contributions into the CPP. However, ...
The rules for what you can deduct and how much for employment expenses are a little complex, but worth knowing. Basically, a limited range of expenses that you laid out in order to earn employment income MAY be deductible, including some household expenses. The first criterion for a deductible expense is that it must be ...
What is your expense for meals? Whatever you paid, right? Not according to Canada Revenue Agency. There are a many special tax rules with regard to meals and entertainment expenses, most of which boil down to either denying the expense for tax purposes entirely, or reducing it to half the actual expense. There are a ...
Learn more about Wholly Deductibility of Meals and Entertainment Expenses »
Health and Welfare Trusts have been around for many years, and are now becoming an increasingly popular choice for providing medical coverage to employees – particularly in private companies. There can be significant tax advantages to using such a plan – both for the employer and the employee. The employer can save money on health ...
If a US company operates in Canada does it have to file a Canadian tax return? If an employee of a US company performs duties in Canada, does the employee have to file a Canadian tax return? Maybe. If the US company has a “Permanent Establishment” in Canada, it has to file a Canadian tax ...
Learn more about Taxation of US Employees working in Canada »
With the high cost of employee benefits, complicated payroll rules, and changes to the Employment Standards Act, many businesses are encouraging their employees to become “independent contractors” or hiring sub-contractors instead of employees, however, when engaging independent contractors, it is important to ensure that the status is not that of an employee to avoid the ...
Employees can deduct union dues if they relate to their employment, but can only deduct memberships dues if they are required to maintain a professional status in a profession recognized by statute (federal or provincial legislation). This is actually quite restrictive, and most industry or trade associations do not qualify, even if they certify and ...