Are You Compliant?

Steven Van Alstine, Vice-President, Compliance Programs and Services of the Canadian Payroll Association, noted 10 key areas where many employers were not in compliance with the various tax rules and regulations at this year's APA Congress.

Following Audits and examinations conducted by Canada Revenue Agency (CRA), there were numerous areas that CRA found employers were not treating correctly in the paying of their employees, which in turn resulted in reassessments.

The list includes:

• Salary expenses
• Reclassification of employment status - paying an employee as an independent contractor when in fact the individual really was an employee.

The above are not taxable benefits, but the following list all involve taxable benefits:

• Insurance Plans
• Travel and meal allowances
• Stock options
• Parking
• Gifts and awards
• Personal living expenses
• Interest free or low interest loans
• Auto and motor vehicle benefits and allowances

Throughout the year, we publish a newsletter, that includes more information about each of these specific topics.  You can sign up for our complimentary electronic newsletter here.

In addition, when using our services, OnPayroll.ca ensures compliance wherever possible when we are aware of incorrect treatment.  We provide the tools and resources necessary for compliance in the province(s) you need them for.