Value of the benefit

Source URL

https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/benefits-allowances/remitting-gst-hst-on-employee-benefits/calculate-amount-gst-hst-you-considered-have-collected/value-benefit.html

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Value of the benefit

The value of the benefit for GST/HST purposes is the total of the following two amounts:

  • the amount reported on the T4 or T4A slip for the benefit
  • if the taxable benefit is for a standby charge or the operating expense of an automobile, the amount, if any, that the employee or the employee's relative reimbursed you for that benefit

Note


When an employee or an employee's relative has reimbursed an amount equal to the entire taxable benefit for a standby charge or the operating expense of an automobile and, as a result, no benefit is reported on the T4 slip, the value of the benefit for GST/HST purposes is equal to the amount of the reimbursement.

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Date modified:
2017-12-15