Online Seminar

Income Tax – Employee Benefits

Nov 25, 2022

Online

DATE

NOV 25

2022

TIME

1:30 PM - 5:30 PM

WHO CAN ATTEND

All

PD HOURS

3.5 Hours

ETHICS HOURS

0 Hours

STATUS

Registration closed on

Nov 22, 2022

EVENT DESCRIPTION

NOTE: This course description has been revised and reflects updates for 2022. If you have any questions, please contact pdevents@cpaontario.ca

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 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 half-day seminar provides a review of the income tax implications for benefits, including cases of owner-managers and arm’s length employees. 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

KEY TAKEAWAYS

Upon completing this course, you 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 seminar 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 KNOWLEDGE

Prior to enrolling in this seminar, participants should possess a basic understanding of personal and corporate taxation.

PRICING

$163.00 Personal Passport

$190.00 Organization Passport

$261.00 Member

$261.00 Student

$317.00 Public

Status: Registration closed on Nov 22, 2022

LOCATION

Online

SPEAKER(S) BIO

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.

SPECIAL INSTRUCTIONS

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 at https://pdlms.cpaontario.ca/ and should be downloaded in advance.

Registration, cancellation, withdrawal and all other CPA Ontario PD Seminar policies can be found here.