CRA Gift Tax Rules For Employers 2022

 If you follow the gift-tax laws of the Canada Revenue Agency (CRA) and give your staff gifts instead of cash bonuses, you and your employee will save money on Canadian income tax. Employers can deduct the total cost of the gift, and employees are not required to include the cost of the present in their taxable income.

Employee Gifts and CRA Tax Rules

Except for the following exclusions, the CRA considers all presents given to employees to be taxable benefits:

• Employees can receive up to $500 in noncash gifts per year.

• Once every five years, employees may receive non-cash presents worth less than $500 in acknowledgment of long service.

• Employer-sponsored parties or social gatherings cost less than $100 per person.

• At work-related functions such as meetings, training sessions, and so on, meals or other hospitality services are provided.

• Coffee/tea, snacks, mugs, t-shirts, and hats are worthless.

Anything over the $500 threshold is deemed a taxable benefit, and the employer may be required to make source deductions.

Gift Types 

The number of presents an employee can receive in a given year is unlimited, and the total cash value of all presents is the only restriction. Small gifts are not accepted, and the $500 limitation excludes mugs, chocolates, plaques, and other similar items.

You may convert gift certificates and stocks to cash, and performance-related incentives and bonuses will be taxable employee benefits.

Conclusion

It's crucial to ensure that staff presents are presented for the right reasons. The CRA's gift and reward rules state:

A present must be given for a particular event, such as a religious holiday, a birthday, a wedding, or a child's birth... This policy does not apply if you offer your employee a noncash present or prize for any other purpose, and you must include the fair market value of the gift or award in the employee's income.

Tips To Babyproof Your Home Like A Pro

 Soon-to-be parents have a lot going on in their minds. They worry about the safety of the baby almost every passing second. One of the most important things they do is babyproofing the house. But when they head to the internet, a ‘must-have’ label is in almost every babyproofing item. 

To help you with this, we are here to share some tips on how you can babyproof your home like a pro. In our Avenue Road child care in Toronto, we follow similar protocols to keep the children under our care safe from hazards. So, these tips will actually help you. 

1. For the living room

The living room has a lot of elements like furniture, electric sockets, windows, doors, etc. Almost all of this can prove dangerous to babies. Start by carpeting the floor with extra soft material to prevent injury from falls. Then, move on to finding all the sharp corners and edges in the room. The most important part is to cover the doorknob, window locks, and electric outlets. 

2. For the bathroom

Keep the bathroom locked at all times. Never leave sharp objects and dangerous chemicals (soaps, cleaners, shampoo bottles) within reachable distance for the babies. To make the bathroom even more babyproof, get a non-slip bath mat and always keep the toilet lid down with a lid lock. 

3. For the kitchen

Start by putting away all the knives and cutlery in a cabinet and locking them. Most of us have small magnets on the fridge. Get rid of them ASAP. They pose a choking hazard. And, never let the baby unsupervised when you are using the oven or the dishwasher. 

4. For the nursery

Always check the integrity of the crib. Spend at least two minutes investigating the crib every day. The windows may seem out of reach for babies. But trust us, they grow super fast and start opening every knob they can get their hands on. Also, consider installing a baby monitor to stay alert about your baby. 

Finally…

Remember to keep the doors closed without fail. And, start preparing three or four months before the due date. It will give you enough time to prepare the home and come up with new ideas to keep your child safe from dangers. After your baby starts to crawl, look for other potential hazards and remove them. 

How To Choose A Home Childcare Provider?

 Every parent at some stage search for the best childcare providers around their vicinity. We bring some of the basic yet important details to be aware of. Whether you choose a formal child-care center, a family daycare, or in-home care, this blog will include advice for parents looking for all the details at one single point - here. 

Parents:

When selecting an in-home daycare service, there are numerous variables to consider.

Determine whether the provider is required to hold a license by the state. Each state determines the maximum number of children a caregiver can care for. Inquire about the number of children in the home and whether the provider is appropriately licensed.

The Avenue road child care service should also be adequately insured, and this coverage is sometimes included in a homeowner's policy. 

Before making your decision, you should discuss the following with the provider:

1. Ensure the caregiver is certified in first aid and CPR for children and infants.

2. Ensure that the provider has crucial medical information on hand, such as allergies, doctor's phone numbers, etc.

3. Give formal permission for your child's emergency medical treatment or care.

4. Only approved individuals will be permitted to collect your child.

5. Ensure that your home has fire extinguishers and smoke alarms.

6. Outside play places should be well-maintained and equipped with appropriate safety elements.

7. A swimming area should be walled and locked if one exists.

The following items should be childproofed in the home:

• The stings on the window blind pulleys are wrapped high and out of reach.

• Windows and window curtains are put out of reach of cribs.

• Stair gates prevent access to the stairwell. Straps secure children's tables and high chairs.

• The outlet covers are securely fastened.

• The toys are functional and clean.

• Children's access to potentially harmful substances is restricted.

Conclusion: One of the essential decisions parents will ever make is selecting the appropriate daycare provider. Caring for children is lucrative and joyful for providers, and it gives both parents and providers peace of mind to know that their children are in a safe setting.

Reasons Why Pets Are Good For Children With ADHD

 Raising a child with ADHD can be a handful. However, it is nothing less rewarding for you as a parent. They come with all the excitements and traits in a heightened manner. Instilling healthy control and development skills are vital for their growth. Yet, it is almost never easy to get a child with ADHD to do what you wish.

To tackle this, many doctors recommend parents adopt a pet. Apart from being a furry companion, they also help kids with ADHD in several ways. Let us take a look at them. 

1. Reduces stress levels and anxiety

When you pet a dog, you feel happy. This is because this particular activity increases serotonin levels and lowers cortisol(stress-inducing hormone) levels in the brain. The same applies to kids with ADHD. These kids naturally show higher emotions than other kids their age. A friendly companion eases their stress and helps them find comfort in times of emotional episodes. 

2. Teaches responsibility

Children feel a level of connection and responsibility to their pets. A dog, for example, follows a routine for its daily activities. When your kid takes the charge, they learn to do things on time along with the pet. It helps them understand boundaries and improve their focus. Which counteracts the ADHD and facilitates their learning developmental skills. 

3. Provides physical exercise

According to a study, children with ADHD showed better attention and impulse control after a short exercise session. And, pets love nothing more than engaging in playful physical activities. Specially trained dogs can help provide your child with the right amount of physical exercise every day. Which will eventually help them thrive in the future. 

4. Offer the much-needed companionship

At our Avenue Road Child Care in Toronto, we understand how important it is for a child to have emotional support. Most pets do too. They can recognize your child’s emotions and react accordingly to soothe them. And, a pet will never judge your child. It will always be there for them no matter what they do. Most kids with ADHD feel disconnected from others because of a lack of deep understanding. With a pet, however, they feel comforted and connected. 

Finally…

Having a pet is only one part of the solution. Continued love, guidance, and support from every environment you place your kid in is vital. If you suspect that your kid might have ADHD, consult an expert immediately.