Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the CRA.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle de l'ARC.
Please note that the following document, although believed to be correct at the time of issue, may not represent the current position of the Department.
Prenez note que ce document, bien qu'exact au moment émis, peut ne pas représenter la position actuelle du ministère.
Principal Issues:
Are cash awards for long-service taxable?
Position TAKEN:
Yes.
Reasons FOR POSITION TAKEN:
Consistent with earlier opinions.
XXXXXXXXXX 2000-006650
T. Young, CA
February 28, 2001
Dear XXXXXXXXXX:
Re: Employee Recognition Program
This is in reply to your letter of January 9, 2001, in which you requested our views on whether cash awards given to employees for long service are taxable in the hands of the employees.
It is our view that the cash awards are taxable employment benefits.
We trust that the forgoing comments are of assistance to you.
Yours truly,
John Oulton , CA
for Director
Business and Partnerships Division
Income Tax Rulings Directorate
Policy and Legislation Branch
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