Subsection 232(4)
Administrative Policy
18 December 2006 Internal T.I. 2006-0208611I7 F - Indemnités pour lésions professionnelles
After indicating that the s. 56(1)(v) inclusion and s. 110(1)(f)(ii) deduction could apply to amounts paid by a bank pursuant to the Canada Labour Code to Ontario employees in amounts not in excess of the amounts that would have been payable pursuant to Ontario's Workplace Safety and Insurance Act scales, the Directorate stated:
Pursuant to [Reg.] 232(1) …, every person who pays an amount in respect of compensation described in subparagraph 110(1)(f)(ii) of the Act shall make an information return in prescribed form in respect of that payment. That prescribed form is the T5007 slip … .
Also excluded from the T5007 are amounts coming within subsection 232(4) of the ITR, such as interest payments, compensation for non-financial loss, payments under a labour market reintegration program, medical expenses and lump-sum payments to survivors.
| Locations of other summaries | Wordcount | |
|---|---|---|
| Tax Topics - Income Tax Act - Section 56 - Subsection 56(1) - Paragraph 56(1)(v) | application of ss. 56(1)(v) and 110(1)(f)(ii) to non-contractual amounts paid by bank pursuant to Canada Labour Code to Ontario employees, not in excess of the WSIB scales | 317 |