2024年6月25日 · The "Other information" area at the bottom of the T4 slip has boxes with codes and amounts that relate to employment commissions, taxable allowances and benefits, deductible amounts, fishers' income, and other entries if they apply. ... Box 85 - Employee-paid premiums for private health services plans. See line 33099. Box 86 - Security options ...

Include the amounts that the employee paid on a T4 slip in the "Other information" area under code 85.The use of code 85 is optional. If you do not enter code 85, the CRA may ask the employee to provide supporting documents.. Use the T4A slip to report these amounts for former employees or retired employees.

2025年2月3日 · One common scenario is when group life or disability premiums are included in the payroll deduction but filtered out of Box 85 – the Box 85 figure ends up lower than the total deducted from pay (T4 box 85 - Tax Topics - protaxcommunity.com) (T4 box 85 - Tax Topics - protaxcommunity.com) Such differences can confuse employees and flag ...

2022年2月9日 · As employers prepare T4’s, they can make like a bit easier for staff. By reporting the employees contributions to the health and dental premium in Box 85, you are helping staff make sure they get the medical Expense Tax Credit (METC) where available.

2024年12月31日 · Quebec T4 slip – box 14 = $40,000 and box 24 = $31,500 (calculated as the maximum insurable earnings for 2023 of $61,500 – $30,000 already reported on T4 slip with Ontario as province of employment = $31,500) ... Report the premiums that your employee paid to private health services plans using code 85. The use of code 85 is optional. If ...

2021年2月1日 · If you are paying premiums under a plan managed by your employer, you will find the exact amount paid on your T4 Statement of Remuneration slip in Box 85 of the “other information” section. If you do not have the information on a T4 slip, keep your receipts to be able to prove the amounts you paid in the event of a CRA audit.

The portion deducted from employees should be reported annually in box 85 on your employees T4. The following information is directly from the CRA site. “If you make contributions to a private health services plan (such as medical or dental plans) for employees, there is no taxable benefit to the employees.

Learn how to accurately report T4 Box 85 employer-paid health premiums, avoid common mistakes, and stay compliant with CRA regulations in Canada.

2024年4月12日 · In QuickBooks Desktop, the boxes used on the T4 are pre-set, and there’s currently no ability to make changes. However, if Box 85, which is used for employee-paid premiums for private health services plans (including dental), is not showing up, it might be because it needs to be filled in manually.

Box 85: Employee-Paid Premiums for Private Health Services Plans—This applies when you, as an employee, pay disability insurance premiums as part of a wage loss replacement plan. ... On your T4 slip, this might show up in Box 85 if the premiums are part of a private health services plan. But often, these premiums aren’t listed explicitly ...