More benefits than you planned for -- Articles on Group Benefits, Employee Benefits, Life Insurance and more. http://www.morebenefits.ca Group Benefits, Life Insurance, Pension Plans, Travel Insurance, Employee Benefits Mon, 16 May 2011 21:53:58 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 We Read the Small Print http://www.morebenefits.ca/life-insurance/we-read-the-small-print/ http://www.morebenefits.ca/life-insurance/we-read-the-small-print/#comments Mon, 31 Jan 2011 20:42:42 +0000 sgs http://www.morebenefits.ca/?p=1075 Be careful not to get into situations where the small print becomes a giant nightmare.

]]> http://www.morebenefits.ca/life-insurance/we-read-the-small-print/feed/ 0 Tax Implication of Benefits http://www.morebenefits.ca/group-benefits/tax-implication-of-benefits/ http://www.morebenefits.ca/group-benefits/tax-implication-of-benefits/#comments Mon, 31 Jan 2011 05:53:30 +0000 sgs http://www.morebenefits.ca/?p=1082 Wanting to find out which benefits are taxable and which are not? Need clarity on which benefits are taxable when paid out. The following article summarizes this information.

Life Insurance
Any premium paid by the Employer must be treated as a taxable benefit to the Employee
Any benefit paid upon the death of the Employee is non-taxable, regardless of who pays the premium

AD&D Insurance
Any premium paid by the Employer is not a taxable benefit to the Employee
Any benefit paid is not taxable, regardless of who pays the premium

Dependant Life Insurance
Any premium paid by the Employer must be treated as a taxable benefit to the Employee
Any benefit paid upon the death of the Dependant is non-taxable, regardless of who pays the premium

Short Term Disability
Any premium paid by the Employer is not a taxable benefit to the Employee
For a 100% non-taxable benefit, the Employee must contribute 100% of the premium. If the Employee contributes less than 100%, the benefit is taxable to the extent that the coverage is Employer paid.

Long Term Disability
Any premium paid by the Employer is not a taxable benefit to the Employee
For a 100% non-taxable benefit, the Employee must contribute 100% of the premium. If the Employee contributes less than 100%, the benefit is taxable to the extent that the coverage is Employer paid.

Extended Health Benefits
Any premium paid by the Employer is not a taxable benefit to the Employee
Any benefit paid is not taxable, regardless of who pays the premium

Dental Benefits
Any premium paid by the Employer is not a taxable benefit to the Employee
Any benefit paid is not taxable, regardless of who pays the premium

Critical Illness Benefits
Any premium paid by the Employer is not a taxable benefit to the Employee
Any benefit paid is not taxable, regardless of who pays the premium

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