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Discover how to calculate taxes on bonus payouts and understand the implications for your financial goals. Non-cash gifts with a value Many employers have a practice of paying Christmas bonuses – partly as a reward to staff for their contribution to the success of the business during the previous year, and partly to mark More than 60 per cent of Canadian workers will get some kind of reward from their employer this holiday season, but for most, it won't be In Canada, employers are required to deduct Canada Pension Plan (CPP) contributions, employment insurance (EI) premiums and income tax (federal and provincial) No matter what type of Christmas bonus you give to your employee, there are tax consequences to either your company or to your employee. Discover how the GST relief and Calling all Canadian casino enthusiasts! We’re delighted to bring you a daily assortment of the most enticing Christmas bonuses. Many employees are happy to receive cash bonuses for Christmas. 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