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Commentary

4.1 Valuation of BIKS

Canada

4.1ÌýÌýÌýÌý Valuation of BIKS

Almost all emoluments paid under the contract of employment are subject to withholding including the value of benefits-in-kind (BIKs) provided. If an employer provides benefits to their employees, they must:

  1. Ìý

    •ÌýÌýÌýÌý determine if the benefit is taxable

  2. Ìý

    •ÌýÌýÌýÌý calculate the value of the benefit

  3. Ìý

    •ÌýÌýÌýÌý calculate payroll deductions

  4. Ìý

    •ÌýÌýÌýÌý file an information return (see 1.3.3)

Generally,

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