Click here to close now.

SYS-CON MEDIA Authors: Pat Romanski, Carmen Gonzalez, AppDynamics Blog, Roger Strukhoff, Cloud Best Practices Network

News Feed Item

Taxable Benefits Risk: Employee Benefits Could Cause Tax Headaches

Taxable Benefits & Allowances Seminar from the Canadian Payroll Association (CPA) helps make sense of the latest information and legislation

TORONTO, Jan. 15, 2014 /PRNewswire/ - Many employers and employees are surprised at the depth and breadth of items considered taxable, which therefore impact income and statutory withholdings. Most employees are not even aware there is legislation related to gifts provided to them. While there are some opportunities to give non-taxable gifts, simply providing a gift card to an employee can have tax implications. One of the most common compliance issues identified by the Canada Revenue Agency (CRA) and Revenu Québec (RQ) in organizational audits is the exclusion of taxable benefits from an employee's income.

The Canadian Payroll Association (CPA) offers a comprehensive one-day seminar on assessing taxable benefits for finance, payroll, accounting and human resources practitioners that provides detailed information on which benefits are taxable and which can be excluded from income, and are therefore not taxable. Topics include: taxable benefits legislation, sales tax issues, automobile benefits and allowances, loan and stock options and all other taxable benefits.

The CPA's Taxable Benefits and Allowances seminar addresses all of these issues in plain language, with exercises to reinforce learning for those benefits that are more challenging to calculate. It fosters the opportunity to network and learn from colleagues who may be facing similar challenges in assessing benefits.

"This seminar is designed for payroll, accounting, human resources and office managers who need to be aware of changing taxable benefits values, policies and regulations," said Janet Spence, Manager of Compliance Services and Programs for the Canadian Payroll Association. "It provides a comprehensive overview of the payroll implications for the full range of taxable and non-taxable benefits and allowances. It also provides legislative details on a number of common benefits and allowances, statutory withholding treatment, and year-end reporting requirements."

Since payroll practitioners are responsible for complying with over 190 legislative and regulatory obligations at the federal and provincial levels, they need to keep on top of ever-changing legislation. For example, consider the change to the assessment of insurance effective January 1, 2013, whereby the coverage for accidental death and dismemberment (known as AD&D) is now considered taxable. Being unaware of such changes can put organizations at a compliance risk.

The CPA's Taxable Benefits & Allowances seminar will be held across Canada over the coming months. It will provide in-depth guidance to the payroll, finance and business communities on how to assess more than 40 different benefits from a taxable and non-taxable perspective.

For more information on the Canadian Payroll Association's Professional Development Seminars, Certification Programs and Benefits of Membership, visit payroll.ca.

CPA representatives are available for interviews.

About the Canadian Payroll Association:
The Canadian Payroll Association (CPA) has influenced the payroll compliance practices and processes of hundreds of thousands of employers since 1978. As the authoritative source of Canadian payroll knowledge, the CPA affects the legislative processes and practices of payroll service and software providers, as well as hundreds of thousands of small, medium and large employers. Payroll professionals in 1.5 million organizations across Canada are responsible for ensuring the timely and accurate payment of $860 billion in wages and taxable benefits, $268 billion in statutory remittances to the federal and provincial governments and $94 billion in health and retirement benefits, while complying with more than 190 regulatory requirements.

SOURCE Canadian Payroll Association

Image with caption: "Mark your calendar for payroll education! It pays to know! The Canadian Payroll Association offers professional development seminars to help payroll practitioners stay current and compliant. Members and non-members are welcome. Sign up now for the Taxable Benefits and Allowances seminar and more. http://goo.gl/oxfRMQ (CNW Group/Canadian Payroll Association)". Image available at: http://photos.newswire.ca/images/download/20140115_C8335_PHOTO_EN_35479.jpg

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
SYS-CON Events announced today that Ciqada will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Ciqada™ makes it easy to connect your products to the Internet. By integrating key components - hardware, servers, dashboards, and mobile apps - into an easy-to-use, configurable system, your products can quickly and securely join the internet of things. With remote monitoring, control, and alert messaging capability, you will mee...
The best mobile applications are augmented by dedicated servers, the Internet and Cloud services. Mobile developers should focus on one thing: writing the next socially disruptive viral app. Thanks to the cloud, they can focus on the overall solution, not the underlying plumbing. From iOS to Android and Windows, developers can leverage cloud services to create a common cross-platform backend to persist user settings, app data, broadcast notifications, run jobs, etc. This session provide...
SYS-CON Events announced today that Column Technologies, a global technology solutions company, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Established in 1998, Column Technologies is a leader in application performance and infrastructure management for commercial and federal markets. The company is headquartered in the United States, with a diverse and talented team of more than 350 employees around th...
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applica...
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
WebRTC is an up-and-coming standard that enables real-time voice and video to be directly embedded into browsers making the browser a primary user interface for communications and collaboration. WebRTC runs in a number of browsers today and is currently supported in over a billion installed browsers globally, across a range of platform OS and devices. Today, organizations that choose to deploy WebRTC applications and use a host machine that supports audio through USB or Bluetooth can use Plantro...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable o...
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
Public Cloud IaaS started it's life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in ado...
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) ap...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications U...
ProfitBricks, the provider of painless cloud infrastructure IaaS, today released its SDK for Ruby, written against the company's new RESTful API. The new SDK joins ProfitBricks' previously announced support for the popular multi-cloud open-source Fog project. This new Ruby SDK, which exposes advanced functionality to take advantage of ProfitBricks' simplicity and productivity, aligns with ProfitBricks' mission to provide a painless way to automate infrastructure in the cloud. Ruby is a genera...
Onset Technology, the creator of the OnPage App, is one of the local companies recognized as having enhanced the positive image of its organization through service to their customers and its community, while at the same time making the Waltham area a great place to live, work and play. Judit Sharon, Onset Technology CEO commented: "We are thankful for the recognition and very proud of our dedicated team and industry leading SaaS products. Knowing that Waltham is a globally recognized and high...