My Writing > • Check your Paycheque!


1 Feb 2005

 

Extended health and dental premiums (also called private health plans) are a medical expense. Claiming medical expenses can result in tax savings. When was the last time you looked carefully at those deductions from gross pay? Is your employer paying for your employee benefits? . . .

 Download article

If you believe that your T4 should include all of the items you pay for directly, especially Extended Health and Dental Premiums, not just Union Dues and Donations, please write to the Minister of Finance!  I did and they tell me they will consider adding it to the requirements for employers to report.  

If and until that happens, if you pay your own health plan premiums, you may have to request a letter from your employer every year unless your paycheque is really clearly itemized and shows Extended Health and Dental premiums as a separate item from the rest of your benefit package.

UPDATE:  It happened but it is not over yet.  In 2006 I went to Ottawa, I asked, they listened and as of 2006, there is a Box 85 on your T4.  The frustrating part is that currenlty it is not mandatory for your payroll clerk to complete Box 85.  Support me in my bid to make Box 85 useful and used by requesting that your payroll clerk complete it and requesting that the Minister of FInance and the Minister of Revenue make it a mandatory completion item.

Subscribe to the Canadian MoneySaver

Originally published February, 2005 by Canadian MoneySaver - www.canadianmoneysaver.ca


All articles are copyright protected.  Most articles are not available for re-print unless you obtain permission from third parties.  Please respect copyright. For more information or permission to re-print please contact eileen.reppenhagen@gmail.com    

If you obtain permisison to re-print an article, include this tagline:  "Eileen Reppenhagen is a Certified QuickBooks ProAdvisor and speaks and writes about accounting and tax.  Contact her at eileen.reppenhagen@gmail.com".




 

 

 

 
 
 
 
 
 
 
Copyright 2003-2018  Eileen Reppenhagen   Site Accessibility    Privacy policy    More legal stuff    Contact

Disclaimer: This website does not research or endorse any product or service appearing in links or advertisements anywhere on this site. 

I consider requests to update a particular page if there's an error or new information worth adding.

CRA has updated their website. If the link has a note that it's been archived, it's likely in their new Folio's or will be in the Folio's in the future.

If someone were to make an offer to purchase the rights to TaxDetective (Trademarked in Canada), I'm open to offers. 

Please do NOT rely on or use the information on this website as a basis for a course of action without obtaining appropriate professional advice, in writing. 

All Intuit®, QuickBooks® Software,Quicken® Software and Profile® Software trademarks remain the property of their respective holders, and are used only to describe the products discussed on this website.

Any usage of the above-mentioned marks anywhere in this website in no way indicates any relationship, endorsement, or affiliation with the holders of said trademarks other than specifically stated, for example, Certified QuickBooks ProAdvisor.