Hi Rustic Stix:

To setup taxable benefits you should calculate the benefits on each pay cheque. Since it is close to the end of the year I would suggest spreading the yearly taxable benefit to the remaining pay cheques for 2020 to eliminate any financial consequences for the company (E.G. CPP & EI). You can set up a benefit income amount for each type (E.G. Vehicle Allowance, Insurance, etc.). You will have to select the employees which the benefits are paid and include them on each cheque.

For personal billable service assistance please contact us directly at 1-866-467-2883, [email protected] or https://agateconsulting.ca

Hi Rustic Stix:

To setup taxable benefits you should calculate the benefits on each pay cheque. Since it is close to the end of the year I would suggest spreading the yearly taxable benefit to the remaining pay cheques for 2020 to eliminate any financial consequences for the company (E.G. CPP & EI). You can set up a benefit income amount for each type (E.G. Vehicle Allowance, Insurance, etc.). You will have to select the employees which the benefits are paid and include them on each cheque.

For personal billable service assistance please contact us directly at 1-866-467-2883, [email protected] or https://agateconsulting.ca