Dates and location
Pricing
Hours
Dates and location
Pricing
Hours
Description
Attracting and retaining skilled employees is a critical success factor for most businesses, and most employers provide formal and informal benefits as part of their compensation plans. The morale boost of employee benefits can quickly deteriorate when employees receive an unexpected tax bill from the Canada Revenue Agency (CRA).
In today’s knowledge-based economy, human capital and human resources represent increasingly valuable assets to all sizes and forms of business. The process of attracting and retaining skilled employees constitutes a critical success factor for most businesses, motivating employers to provide formal and informal benefits as part of their compensation package. An understanding of the income tax implications of benefits is a critical component in assessing their suitability for the employee group.
This course provides a review of the income tax implications for benefits, including benefits offered broadly to arm’s length employees and benefits tailored to key employees. To the extent that the benefits may have differing implications to employees who are also shareholders, those implications are also discussed. You will enhance your understanding of income tax issues that arise from various types of benefits by assessing the tax-effectiveness of various benefit plans and employment benefit choices as well as ensuring compliance with the tax rules. You will also increase your ability to advise on tax-effective employee remuneration strategies using benefit plans.
Topics Include:
- Income tax treatment of benefits
- Employee allowances and automobile benefits
- Goods and Services Tax and Harmonized Sales Tax (GST/HST)
- Planning opportunities for key employees
- Stock Options
- Other employee benefits
NOTE: This course description has been revised and reflects updates for 2024. If you have any questions, please contact pdevents@cpaontario.ca.
Key Takeaways
By the end of this course, participants will be able to:
- Apply their tax knowledge to assess the tax implications of various employee benefits.
- Advise employers on the tax issues which must be considered in selecting and delivering employee benefits.
- Incorporate the tax implications into their evaluation of employment benefit alternatives.
- Evaluate the income tax implications of existing and proposed employment benefits.
Who Will Benefit
This course will benefit employers and advisors who want to understand the taxation of employee benefits, including both the general principals of taxation in this area and specific benefits that have unusual income tax complexities.
Prerequisite(s)
Prior to enrolling in this course, participants should possess a basic understanding of personal and corporate taxation.
How to Access the Course
This course is a live webinar. You must attend the live course to receive verifiable CPD hours. We recommend you join five minutes prior to the scheduled starting time. To get the full experience of this interactive course, use a computer that has video and microphone capabilities.
Electronic material can be accessed one week prior to the course and should be downloaded in advance.
Registration, cancellation, withdrawal and all other CPA Ontario PD policies can be found here.
Speaker(s)
Nehal Shelat, CPA, CGA, CFP is a tax professional with over 13 years of experience in Canadian Income Tax. At present he is Director - Product Tax with RBC Insurance where he provides income tax expertise to business units. Prior to joining RBC, Nehal worked at London Life Insurance Company and was also was part of the tax team of KPMG, and Deloitte in their London office. Before joining these leading public accounting firms, Nehal also held various positions in industry for nine years and has gained experience in different service and manufacturing sectors.