Employee Discount Taxable Income

Share:


Filter Type:

Fact check: Are employee discounts taxed, or not? - CTVNews

The Canada Revenue Agency has changed how it is interpreting existing tax law concerning taxable employee discounts. While the update has stakeholders concerned about the impact, the government

Actived: Wednesday Oct 11, 2017

Link: https://www.ctvnews.ca/politics/fact-check-are-employee-discounts-taxed-or-not-1.3627828

Get Deal

Revenue Canada to tax employee discounts but Ottawa says

The tax collector said that when an employee receives a discount on merchandise — as a benefit of their employment — the value of the discount should be included in the employee's income at

Actived: Tuesday Oct 10, 2017

Link: https://www.cbc.ca/news/politics/revenue-canada-employee-benefits-tax-1.4348076

Get Deal

Employee Benefits | Internal Revenue Service

The benefits are subject to income tax withholding and employment taxes. Fringe benefits include cars and flights on aircraft that the employer provides, free or discounted commercial flights, vacations, discounts on property or services, memberships in country clubs or other social clubs, and tickets to entertainment or sporting events.

Actived: Thursday Nov 1, 2018

Link: https://www.irs.gov/businesses/small-businesses-self-employed/employee-benefits

Get Deal

Discounts on merchandise and commissions from personal

If you sell merchandise to your employee at a discount, the benefit they get from this is not usually considered a taxable benefit. However, we consider discounts to be taxable in all the following situations: you make a special arrangement with an employee or a group of employees to buy merchandise

Actived: Monday Nov 19, 2018

Link: https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/discounts-on-merchandise-commissions-personal-purchases.html

Get Deal

Talking Tax: Employee discounts can be taxable income

Employee discounts on services not falling under the “no-additional-cost service” exemption can still be treated as non-taxable fringe benefits, but only to the extent that the discount is no more than 20 percent of the normal price of the service (the 20 percent discount rule also applies to the purchase of goods by an employee). So in my example above, the $10 discount would not be

Actived: Wednesday Sep 12, 2012

Link: https://idahobusinessreview.com/2012/09/13/talking-tax-employee-discounts-can-be-taxable-income/

Get Deal

CRA under fire for new rule to tax employee discounts

The employer guide said employee discounts are "not usually considered a taxable benefit," while the new folio indicates "the value of the discount is generally included in the employee's income."

Actived: Tuesday Oct 10, 2017

Link: https://www.theglobeandmail.com/news/politics/cra-to-begin-taxing-employee-discounts/article36523730/

Get Deal

Gov't of Canada targeting retail workers with employee

Before the change, which some expect to come into effect Jan. 1, employers were advised to tax employee discounts only if the employee was purchasing the merchandise below the employer’s cost.

Actived: Monday Oct 9, 2017

Link: https://www.ctvnews.ca/politics/gov-t-of-canada-targeting-retail-workers-with-employee-discount-tax-1.3625058

Get Deal

Employee-discount tax change removed as feds face uproar

The change stated that when an employee receives a discount on merchandise because of their employment, “the value of the discount is generally included in the employee’s income.”

Actived: Wednesday Oct 11, 2017

Link: https://www.thestar.com/business/2017/10/11/employee-discount-tax-removed-as-feds-face-uproar.html

Get Deal

Liberal government tells CRA to back off plan to tax

The CRA had said on its website that when an employee receives a discount on merchandise the value of the discount should be included in the employee's income at tax time.

Actived: Wednesday Oct 11, 2017

Link: https://www.cbc.ca/news/politics/liberal-government-cra-employee-discount-1.4349651

Get Deal