02-17-2016, 11:52 PM
(02-17-2016, 10:07 AM)tomh009 Wrote:(02-17-2016, 09:06 AM)MidTowner Wrote: Tomh009, do you know if the company identifies that parking as a taxable benefit on employees’ tax slips?
I don't think they do. In fact, I don't know of any local tech company that does. (And, yes, I know that CRA considers it a taxable benefit, but I would be compliance on that is very low. And CRA will first go after such benefits in Toronto, Calgary or Vancouver where parking could cost $500+ per month.)
I do like the idea of offering the TravelWise pass as an alternative. I'll try to bring this up at our office sometime, even if I think that the take-up rate will be fairly low, knowing where people live.
Actually the CRA has gone after the benefit locally, it went after the Region of Waterloo. I think it owed upwards of $800,000 for a three year period the CRA audited.
http://www.regionofwaterloo.ca/en/region...df#page=34
"The Canada Revenue Agency (CRA) undertook an income and expense audit of the Region of Waterloo in 2007-2008 and determined that there was a taxable benefit for employer provided parking at six locations. The CRA determined that there was a fair market value (FMV) for parking at several Regional locations in Kitchener, including 150 Frederick Street, 235 King Street, 50 and 77 Queen Street, at 99 Regina Street in Waterloo and at the Region of Waterloo International Airport."
Everyone move to the back of the bus and we all get home faster.