CRA states that the FMV of a free parking spot is a taxable benefit unless there is “regular” business use
CRA accepts that there is no taxable benefit to an employee from a free parking spot where it is provided for business purposes, i.e., the employee’s car must be used “regularly” in performing the employment duties. CRA does “not consider that parking offered to facilitate working irregular or extended hours is parking for business purposes.”
Any taxable benefit is computed based on the FMV of the spot, “i.e., the market price for a similar space in the surrounding area having the same conditions of use as for the space provided by the employer.”
Neal Armstrong Summary of 24 January 2018 External T.I. 2016-0645911E5 F under s. 6(1)(a).