If a company is willing to pay money per month for an annual membership (fitness club, golf) again, is there a way to structure it not as just an expense of the company?
Allan Madan, CA
If a company is willing to pay money per month for an annual membership, both golf dues and sports clubs dues paid by your employer will be considered as a taxable benefit to you, unless you can establish that the dues paid were primarily for the advantage of the employer. This is a sticky area because you must clearly demonstrate that you were on company business when attending these clubs. Golf dues are not tax deductible. Sports clubs dues are deductible in only certain circumstances – Click here.
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ABOUT THE AUTHOR
ALLAN MADAN
CA.CPA.CGA
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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