Fitness Memebership


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ranapratab   
Member since: Aug 04
Posts: 36
Location: Brampton

Post ID: #PID Posted on: 17-01-06 11:24:54

Hello all,

Would like to know if fitness membership for reducing stress is tax deductable on our Income Tax? Is it considered as Medical expenses or something that we can claim back on our filing!

Thank you.



morning_rain   
Member since: Feb 05
Posts: 1920
Location: British Columbia

Post ID: #PID Posted on: 19-01-06 17:38:11

I dont think so.

Your employer may offer extended benefits for cost of things such as 'massage therapy' treatments (which are great for stress relief)
I havent heard about exemptions for fitness clubs. Nice idea though!! :)


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~ Morning rain



Loser   
Member since: Sep 04
Posts: 1052
Location: Nice ,USA

Post ID: #PID Posted on: 19-01-06 17:49:36

It is a taxable benifit. If your empler offers it it is included in your taxable income.


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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership


morning_rain   
Member since: Feb 05
Posts: 1920
Location: British Columbia

Post ID: #PID Posted on: 19-01-06 18:29:09

Quote:
Orginally posted by Loser

It is a taxable benifit. If your empler offers it it is included in your taxable income.



oh ok.im not positive (unfortunately I dont have this benefit through work)... So if an employer pays for their employees fitness club membership or offers it..they still are taxed on it (ie the employer?)


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~ Morning rain



NorthYorkDesi   
Member since: Mar 05
Posts: 151
Location:

Post ID: #PID Posted on: 19-01-06 18:56:23

It could be deducted as a business expense though...You could justify the membership as a networking opportunity! :D



Loser   
Member since: Sep 04
Posts: 1052
Location: Nice ,USA

Post ID: #PID Posted on: 19-01-06 19:01:24

No the employee has to pay tax on it. It gets included in the Employees taxable income. Also if any discounted stocks are offered by employer to employee, then the dicounted amount is counted as taxable income for the employees


-----------------------------------------------------------------
You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership


morning_rain   
Member since: Feb 05
Posts: 1920
Location: British Columbia

Post ID: #PID Posted on: 19-01-06 19:29:13

Ok. Thanks :)


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~ Morning rain





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