Tuesday, 4 December 2012

The following Gift is Deductible for the Employer

Non-cash gifts and non-cash awards to an arm’s 
length employee, regardless of number, will not be 
taxable to the extent that the total aggregate value of 
all non-cash gifts and awards to that employee is 
less than $500 annually. The total value in excess of 
$500 annually will be taxable.

An additional $ 500 can be given to long serving employees once every five years for more information click the link below:

CRA Technical News 40

Get more tax information and Q&A letters from our website www.tavana.ca

This blog is for general information only and cannot replace professional advice.
The reader is invited to contact the writer to discuss the contents of the newsletter.
Readers are advised to seek professional advice before acting on the material
in this newsletter

No comments:

Post a Comment