2024年6月25日 · For detailed information on the amounts shown in the boxes of your T4 slip, see the corresponding box number below the following image: Enter this amount on line 10100 of your tax return.

2025年2月3日 · Box 85 may seem like a minor entry on the T4 slip, but it carries important implications for tax compliance and employee tax benefits. This guide has highlighted that Box 85’s purpose is to record employee-paid health plan contributions, thereby enabling employees to claim medical expense tax credits legitimately.

Employee-paid premiums to a private health services plan are considered qualifying medical expenses and can be claimed by the employee on their income tax and benefit return. 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.

2022年2月9日 · 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. This avoids employees being audited for proof of contributions (and you having to write out letters for them).

2024年12月31日 · View examples of completed T4 slips in regular and special situations. Information on T4 slips for employers; how and when to complete and distribute the slips, box 45, how to amend, cancel, add, or replace T4 slips; how to correct CPP, EI and salary overpayment errors; and approval of customized forms.

Understanding what Box 85 is on the T4 and reporting it accordingly will help companies avoid compliance issues. This guide will address how to complete T4 Box 85 accurately, avoid common mistakes, and provide tips on avoiding mistakes.

Employees who share the cost of their health and dental premium are entitled to claim their contribution amount on their annual tax return. The portion deducted from employees should be reported annually in box 85 on your employees T4. The following information is …

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.

2021年2月28日 · Private Health Service Plans like Blue Cross are not taxable. The t4 guide unfortunately says, the use of code [Box] 85 is optional however, if you do not use this code, [CRA] may ask the employee to provide supporting document. Obviously, if Box 85 is used, it should agree with the pay slips.

2019年12月19日 · Organizations who share the cost of the benefit plan with plan members should be aware of Box 85 on the member T4. The portion deducted from employees pay for Health and Dental benefits belong in this section of their T4. Here is the wording from CRA’s website,