Does your employer give you a gift? The tax authorities are watching you!

If in a burst of generosity your employer offers you a large gift, you may have to pay tax on the value of what you were given.

• Also read: A pharmacy in Roberval pays for a trip to the South for its 107 employees

Given the current state of the job market, some employers offer gifts, rewards or benefits to their employees in order to keep them.

This is the case, for example, of the owners of a pharmacy in Roberval who will pay for a seven-day trip to Punta Cana for their 107 employees next year, as TVA Nouvelles reported earlier this week.

In the eyes of the tax authorities, however, certain gifts of this type are considered income that absolutely must be declared.

This is the case, among others, for gifts and rewards in money “or easily convertible into money”, insurance premiums paid by your employer, or even gifts and rewards offered in exchange for work.

But rest assured: if you received a $50 gift card for a restaurant during your Christmas party, you will not have to pay tax.

“A gift certificate, a gift certificate and a gift card that must be used to purchase a good or service from one or more identified merchants are not considered gifts or rewards easily convertible into cash,” specifies. can we find on the Revenu Québec website.

This is because rewards offered other than cash for a special occasion, such as Christmas, a birthday, a wedding or another similar occasion, are not taxable up to $500 (taxes included) per year.

If the value of the gift or reward exceeds this amount, the excess is taxable.