What Tax-Free Benefits Can I Get from My Workplace?
Allan Madan, CPA, CA
What tax-free benefits can I get from my workplace? Employees can receive benefits from their workplace and employers that are completely tax-free. Some common benefits include a loan from an employer to buy a home, medical and dental benefits, non-cash gifts, as well as education and training related costs.
So you want to know what tax-free benefits can I get from my workplace? as an employee you do not have to pay taxes on certain benefits that you receive from your employer. The most common tax-free benefits are:
1. An employer loan to buy a home,
2. Medical and dental benefits
3. Non-cash gifts from your employer
4. Education and training related costs
So here’s the tip, instead of asking your boss for a raise, ask to receive more tax-free benefits from your employer. This way you will end up with more cash after tax in your pocket. For more answers to your questions, make sure to check out our Canadian tax forum.
Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CPA, CA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
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