On July 7, 2016, Income Tax Folio S2-F3-C2, Benefits and Allowances Received from Employment, was introduced to replace and cancel Interpretation Bulletin IT-470R(Consolidated), Employees’ Fringe Benefits, along with a portion of a few other publications. New information in the Folio include, among others:

• a discussion of tax treatment of benefits by employee-shareholders and the capacity in which the benefit is conferred;
• description of “benefits of any kind whatever”;

this new commentary 

• ways a benefit may be conferred and the timing of income inclusion;
• the meaning of the term “primary beneficiary”;
• a discussion of 3^rd party benefits and discounts;
• potential income inclusions for different types of insurance, wage loss, and private health services plans;
• an overview of the exclusion from income for allowances provided to employees at special work sites or remote work locations; and
• a discussion of “reasonable allowances”.