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Weekly Tax Tip

August 31, 2010

PARKING - NOT A TAXABLE BENEFIT

In a March 18, 2010 Tax Court of Canada case (Long vs. H.M.Q., 2009-3692(IT)I), the Court found that where the employee was provided a free parking spot occasionally, and he did not have a space specifically allowed to him, this was not a taxable benefit.

For further information see VTN Monthly Tax Update Seminar, Issue No. 345.

The preceding information is for educational purposes only. As it is impossible to include all situations, circumstances and exceptions in a document such as this, a further review should be done by a qualified professional. Although every reasonable effort has been made to ensure the accuracy of the information contained in this document, no individual or organization involved in either the preparation or distribution of this document accepts any contractual, tortious, or any other form of liability for its contents or for any consequences arising from its use.

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