January 11, 2023
Canada Revenue Agency announces changes to its administrative policies for certain employee taxable benefits
The Canada Revenue Agency (CRA) recently updated its website to announce changes to its administrative policies for certain employee taxable benefits, effective January 1, 2022. Specifically, the CRA's changes relate to the treatment of (i) gift cards under the employee gifts, awards and long-service awards policy; (ii) virtual events under the employer provided social events and hospitality functions policy; and (iii) scramble parking under the employer-provided parking policy.
A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.
Full text of Tax Alert