Box O – Benefits Received by a Shareholder (Code: RO)
Include the value of a taxable benefit granted to a shareholder (or a person related to the shareholder) in box O. Such benefits include:
- a benefit related to the personal use of an automobile that you make available to the shareholder (or to a person related to the shareholder); and
- a benefit related to a low-interest loan you granted to the shareholder.
If you grant a low-interest loan to a person related to the shareholder, the value of the benefit related to that loan must be entered in box O of the related person's RL-1 slip.
If a taxable benefit is paid to a shareholder who is also an employee and he or she claims this benefit as an employee (rather than as a shareholder), consult RL-1 Slip – Box L.
For information about the most commonly granted benefits and the value of the taxable benefit that must be included in the income of a shareholder or a person related to the shareholder, consult Taxable Benefits.
You must indicate the source of this income by entering code RO in the box marked “Code (case O)” of the RL-1 slip.
For more information on the codes to enter in the box marked “Code (case O),” consult RL-1 Slip – Box Marked “Code (case O)”.