Here are some taxation changes to certain benefits which may have an impact on your employees:
AD&D is becoming a taxable benefit effective 1 Jan 2013. This is to be applied Canada-wide;
Manitoba legislated a 7% sales tax on premiums effective 1 Aug 2012. This only affects employees who Work/Reside in MB and have benefits;
British Columbia Health Insurance rates are going up effective 1 Jan 2013.
Act now:
– Work with your benefit provider to determine which benefits are affected
– Once confirmed, adjust the benefit setup and run the updates as required
– These changes will have an impact on payroll interfaces, so let your benefit provider know what the new requirements are.
