The last federal budget announced that the employer’s contribution to the Accidental Death and Dismemberment (ADD) and critical illness benefits becomes a taxable benefit.
This change is effective January 1st and will affect some of your employees. The employees who already have a federal taxable benefit will see this taxable benefit increase.
Do not forget to modify your taxable benfits in January.
If you have any questions, please contact me at info@acyva.com.
Sleiman Karam MBA GBA