CPFB | Are directors who receive director fees covered under Contribute-As-You-Earn (CAYE)?

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Are directors who receive director fees covered under Contribute-As-You-Earn (CAYE)?

No. Under the Income Tax Act, directors of companies are considered as “employee” for income tax purposes. Directors’ fees are therefore taxable as employment income and would not be covered under Contribute-As-You-Earn.

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