CRA states that there generally is no 3rd party requirement to report benefits under $500

Some points made by CRA in response to submissions on its recent Folio on employee benefits (S2-F3-C2):

• Where sales personnel are awarded trips as an incentive, the value of the benefit can “be reduced to the extent of the employment-related activities” required to be performed on the trip.
• Where employment benefits are provided by someone other than the actual employer, “if the amount of the payment [or benefit] is $500 or less, CRA generally waives the T4A reporting requirement unless income tax was withheld at source…[or in the case of] group term life insurance benefits.”
• CRA will amend the Folio to further clarify that it is following Spence to the effect that benefits should be valued based on their fair market value rather than cost.

Neal Armstrong. Summary of 15 November 2016 TEI Roundtable, Q.2, 2016-0670911C6 under s. 6(1)(a).