Employers Required to Report Private Dental Care Coverage on Tax Slips Starting 2023: CRA

Employers offering private dental insurance must report the coverage on their 2023 tax slips, according to a tax notice issued by the Canada Revenue Agency on Nov. 16. The notice, which follows the mandate of the federal Dental Care Measures Act, requires all employers who provide private dental care insurance, or dental service coverage of any kind, to report the benefits on T4 slips effective Dec. 31. “This reporting requirement is mandatory beginning with the 2023 tax year, and will continue to be required on an annual basis,” said the notice, as first covered by Blacklock’s Reporter. “Failing to report this information may result in financial penalties.”...