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userdwilliamsca
Level 1

How do I include a taxable benefit on the T4 for vehicle benefits - no cash changes hands.

I need to add a tax benefit at year end for a vehicle supplied by employer into box 40 of the T4 and which gets included in box 14. Employee pays nothing.

1 Comment 1
Trish_T
QuickBooks Team

How do I include a taxable benefit on the T4 for vehicle benefits - no cash changes hands.

Hello userdwilliamsca,

 

It's great to see you reaching out here.  QuickBooks Online Payroll enables you to add and manage payroll items, to ensure accurate tracking.  I would be glad to assist!

 

Non-cash fringe benefits should be reported on a paycheque, where the employee has regular wages to offset the taxes on the fringe benefit items.  It's important to understand supported pay types and deductions in QuickBooks Online.  To add deductions and contributions, you'll need to set them up in payroll, then add each deduction/contribution to your employee’s paycheque.  Here's how.

 

Should you require additional assistance, please don't hesitate to contact us, outside of this forum.  We would love the opportunity to work with you in real-time, and ensure you're able to accomplish your QuickBooks goals as soon as possible!

 

Feel free to reach back out if you have other questions.  We would be happy to help!

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