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Baskets The Canada Revenue Agency has made an exception with non-cash gifts. Tangible gifts like a bottle of wine, sporting event tickets, or a gift basket are not taxable. However, a non-cash gift may not be tax-free if the total cost of the gift exceeds a combined total value of $500 in the same year. Small business owners may be required to include noncash gifts and awards on your employee’s taxable income if the total fair market value of the gifts is over $500. The following gifts are great for your employees and have a low fair market value:

  • Gift baskets
  • Wine
  • Boxes of chocolates
  • Company sweaters

Give Them A Gift That Is Sure To Make Them Smile

If you are looking to spread some holiday cheer, be sure to give your employees gift baskets. Baskets are not taxable as long as you spend under $500 per employee (that is, in the tax year). Thankfully, Kairos Baskets & Gifts have many gourmet baskets available at reasonable prices. You can thank your employees with a wonderful basket overflowing with sweets and treats.