Do I have to pay tax on a bonus?

February 22, 2012

Emphatically, yes!

Bonuses are compensation and, as such, are taxable. Here’s a link to the Canada Revenue Agency’s Special Payments Chart. It lays out the requirements for source deductions on an array of payments, including bonuses.

Published On: February 22, 2012Categories: Payroll, Q & A, Tax & LawTags: , , ,