n Tax Breaks Newsletter - If no business travel, is a subsistence allowance out? : fringe benefits

Volume 2006, Issue 245
  • ISSN :



Extracted from text ... FRINGE BENEFITS If no business travel, is a subsistence allowance out? By ALISON FUTTER EMPLOYERS generally compensate their employees by way of an allowance to cover subsistence costs for work-related travel where they are required to spend at least one night away from their usual place of residence per month. These allowances are not included in the taxable income of an employee to the extent that they are actually expended on subsistence costs. In order to alleviate the administrative burden of retaining and verifying proof of expenses, the Income Tax Act makes provision for a per diem amount which ..

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