Tuesday, 12 February 2013

Mandatory Critical Illness is now a Taxable Benefit

As a result of a change in legislation by the Federal Government, beginning January 1, 2013 contributions paid by the University for the mandatory Critical Illness Insurance will now be considered a taxable benefit to employees. This change will be reflected in Bear Tracks on the employee's T4 for the 2013 tax year. Please contact your Pension & Benefits Advisor if you have any questions.