We would like to bring to your attention an important update regarding the T4 slip requirements for the calendar year 2023 and onwards.
New Requirement
It is now mandatory for employers to indicate whether an employee or any of their family members were eligible, as of December 31 of that year, to access any dental care insurance, or coverage of dental services of any kind, that was offered by the employer.
This change is significant and will require employers to review their current processes and make necessary adjustments to ensure compliance.
T4 Slip
A reminder that a T4 slip identifies all of the remuneration paid by an employer to an employee during a calendar year. If you are an employer and you paid your employees employment income, commissions, taxable allowances and benefits, fishing income, or any other remuneration, you must issue a T4 slip.
We recommend employers to familiarize themselves with these changes and prepare accordingly. For more detailed information, please refer to the official guidelines linked below.
