New 2023 T4 reporting requirements for the new Canadian Dental Care plan

SOLVED

Good afternoon,

Wonder if someone from Sage can comment on if the T4s for 2023 have been modified to include the information below I have received from our benefit provider today?

New reporting requirements for employers
As part of the new CDCP, you, as the employer, now have a new tax reporting obligation. The government requires you to:

  • Report on a tax slip whether an employee, former employee or spouse of a deceased employee was eligible, on Dec. 31 of the reporting tax year, to access dental insurance or dental coverage of any kind due to current or former employment.

You must report this information beginning with the 2023 tax-reporting cycle and continue to report it every year.

Thanks!

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  • 0 in reply to C White
    SUGGESTED

    C White:

    To answer your question, yes and no. ! would think CRA would have an update on their site for entertaining the new dental program for T4 creation. If you are currently using Sage 50 2023 and you want to continue using it you will have to upgrade to 2024 anyway. ! would think Sage will have an update for Sage 50 2023 to handle the dental program because they are supporting it generally to March 2024.