Tax Season Is a Good Time to Review How Your Benefits Plan Is Taxed
Tax time puts payroll and reporting under the microscope. It is also a practical moment for Canadian employers to review how employee benefits are taxed, how premiums are paid, and whether payroll setup matches the intended plan design.
The article explains common areas of confusion, including disability premium funding, taxable benefits, direct reimbursement of medical or dental expenses, Health Spending Accounts, Wellness Spending Accounts and the importance of aligning HR, payroll and finance before renewal.
