Newest Tax
Posted: Mon Oct 09, 2017 8:26 pm
In Canada now our PM Trudeau has literally gone tax crazy. I swear he is going to start taxing the air we breathe.
The latest NEW tax:
The sales clerk who gets a 25-per-cent discount on the shoes sold at her store is facing a new bill: The Canada Revenue Agency has indicated that employee discounts will now be taxed.
It’s a reinterpretation that prompted disbelief. “Why would the government want to abandon long-standing practice to start taxing a store employee for a 20-per-cent discount on a pair of jeans?” Retail Council of Canada vice-president Karl Littler said at a hearing of the Commons finance committee.
For months, employer organizations thought that the interpretation in the new tax folio, which indicate employee discounts are taxable benefits, might simply be a mistake.
But a spokesperson for the CRA, Zoltan Csepregi, told The Globe and Mail in an e-mail that it is the new folio that is “correct and represents CRA’s interpretation of the law.”
Nowhere is all the Administration of this new tax figured in. Do employers who offer minimal discounts to their Employees really truly have to keep track? Crazeeeeee BUT when you have a PM who has literally thrown money away all over to everywhere I guess he has to squeeze out every nickle he can find (nickle being our smallest denomination now)
The latest NEW tax:
The sales clerk who gets a 25-per-cent discount on the shoes sold at her store is facing a new bill: The Canada Revenue Agency has indicated that employee discounts will now be taxed.
It’s a reinterpretation that prompted disbelief. “Why would the government want to abandon long-standing practice to start taxing a store employee for a 20-per-cent discount on a pair of jeans?” Retail Council of Canada vice-president Karl Littler said at a hearing of the Commons finance committee.
For months, employer organizations thought that the interpretation in the new tax folio, which indicate employee discounts are taxable benefits, might simply be a mistake.
But a spokesperson for the CRA, Zoltan Csepregi, told The Globe and Mail in an e-mail that it is the new folio that is “correct and represents CRA’s interpretation of the law.”
Nowhere is all the Administration of this new tax figured in. Do employers who offer minimal discounts to their Employees really truly have to keep track? Crazeeeeee BUT when you have a PM who has literally thrown money away all over to everywhere I guess he has to squeeze out every nickle he can find (nickle being our smallest denomination now)