For T4/T4A issuers and plan administrators, ensure you've covered all your bases when it comes to reporting dental coverage.
In Budget 2023, the federal government introduced new requirements for employers and pension plan administrators to report dental coverage offered to employees and plan members. Beginning with the 2023 tax year, issuers of T4 and T4A slips must complete:
- Box 45 (T4)
- Box 015 (T4A)
These boxes use codes to indicate the status of dental coverage:
- Code 1: No access to dental care insurance or coverage of dental services.
- Codes 2-5: Indicate dental insurance or coverage is provided and the recipients.
Health Canada has the authority to collect and use Social Insurance Numbers (SINs) for individuals applying to the Canadian Dental Care Plan for plan administration and enforcement.
Read the full article.
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CPA Canada Administrator
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