Beginning with the 2023 tax year, issuers (including employers and pension plan administrators) of the T4 Statement of Remuneration Paid and T4A Statement of Pension, Retirement, Annuity, and Other Income must report on a T4 or T4A slip whether, on December 31st of the taxation year to which the information return relates, a payee or any of their family members were eligible to access dental insurance, or dental coverage of any kind, including health spending and wellness accounts, due to their current or former employment.

Second additional CPP and QPP contributions begin in 2024. After January 1, 2024, any employee who contributes to the CPP or QPP will make CPP2 or QPP2 contributions if and when their annual income surpasses the first earnings ceiling, the Year’s Maximum Pensionable Earnings (YMPE). Employers will make a matching CPP2 or QPP2 contribution.

The YMPE for 2024 will be made available at the beginning of November 2023.

Recent legislation has amended mandatory electronic filing thresholds. Beginning January 1, 2024, businesses filing six or more information returns (slips and summaries) must file electronically. This removes the clause that allowed a filer with 50 or fewer information returns to file by paper. Businesses filing five or fewer information returns can still choose to file by paper.

Examples of information returns include the T4 payroll return (renumeration paid), T5 (investment income), T3 (trust income) and T4A (pension and other income return).

Employees of the Canada Revenue Agency (CRA) are working hard to answer questions you may have about your tax affairs. We want to help you file your income tax and benefit return and ensure you receive the benefits and credits you’re entitled to.

To help you, these are answers to the top questions we’re asked at tax time. You can also check out our questions and answers about filing your taxes page for more answers to common questions.