Financial Planning Archives - Page 2 of 5 - CPA Accountant and Tax Advisor- Coquitlam, Burnaby, Maple Ridge

taxable benfit

Taxable Benefits – Work Clothing

September 11, 2015
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Uniforms are not a taxable benefit if the purpose is to protect the employee from the job hazards or are distinctive uniform such as identifying the employer.

If it does not fulfill the above criteria¬†it would be considered a taxable benefit and would be reported on employee […]

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Rental Income Tax Return

How to Prepare Rental Income Tax Return

Rental Income Tax Return

Rental income is an income you earn from renting a property you own. Rental income is a great source of secondary income and helpful to pay extra bills. However, under the Income Tax Act rental income is taxable must be included on […]

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Automobile taxable benefit

Automobile Taxable Benefit

Per-kilometre allowance rates that CRA does not consider reasonable

If you pay your employee an allowance based on a per-kilometre rate that we do not consider reasonable because it is either too high or too low, it is a taxable benefit and […]

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Universal child care benefit (UCCB)

Under proposed legislation, the Government is increasing and expanding the UCCB starting in 2015. The UCCB is being enhanced by providing up to $1,920 per year for each child under the age of 6, and introducing a new benefit of up to $720 per year for children […]

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