Taxable Benefits are valuable services or access to items that one gets from work. In a nutshell, if you have access to something or some service because you work at a job, and your neighbour does not, that is a taxable benefit. Taxable benefits are a complex topic. Consider getting a tax accountant to help with personal income tax preparation.
One example is a company car. There are two types of taxable benefits there: A standby charge and an operating charge. A standby charge is a taxable benefit just because you have access to the car 24/7. An operating charge is a taxable benefit to reflect the fact the company pays for operating expenses.
Another example is a gym membership. If your employer pays for your gym membership, that’s great. However, other people don’t get that from work, so that is a taxable benefit to you.