![]() As the CRA website explains, “Individuals can choose to claim a deduction for repayments made before Januof certain COVID-19 benefit amounts they were not entitled to receive (or chose to repay) on their income tax and benefit return (the return) for the year they received the benefit rather than on the return for the year they repaid the benefit. The tax treatment of COVID-19 benefit amounts has received Royal Assent. With regard to employer-provided parking, the CRA now specifies that the relief applies “when a regular place of employment is closed due to COVID-19, including situations where employees have been sent home by the employer or have been given the option to work from home on a full-time basis due to the pandemic, employer-provided parking at the regular place of employment will not be considered a taxable benefit by the CRA.” COVID-19 BENEFITS (An accountable allowance is one where the employee must produce receipts to account for the expense and return any amount they did not spend.) Accountable allowances are also eligible for the equipment reimbursement rule. The CRA website explains: “For example, if an employee purchases a computer for $400 in 2020 and an office chair for $250 in 2021 that they will keep after the pandemic and are fully reimbursed, the amount over $500 (that is, $150) must be included in the employee’s income in 2021.” The maximum reimbursement per employee for home office equipment is $500 and this limit applies to the entire period (i.e., Mato December 31, 2022).
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