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Peanut2
New Member

Wage Loss Rep since Aug 2017. Can I deduct the premiums I paid for all of 2017? Can I deduct the premiums paid for previous years even though I just went on LTD last Aug?

Currently on LTD, Wage Loss Replacement.

I received a T4A, Box 107 and Box 022.

Before I went on LTD, my employer and I each paid half of the LTD premium.

Just looking for the time period, of LTD premiums I can deduct.

1 Reply

Wage Loss Rep since Aug 2017. Can I deduct the premiums I paid for all of 2017? Can I deduct the premiums paid for previous years even though I just went on LTD last Aug?

In order for you to claim any contributions to your Wage Loss Replacement Plan against the benefits received, you should have your employer provide you with a letter or statement which shows the amount of "employee paid premiums or contributions". If you have never received benefits from the plan, you can deduct the total amount of contributions you have made since you began paying into it. 

Any contributions to the plan which are made on your behalf and included in your income as a taxable benefit can be deducted from the taxable benefits received on your T4A. You can include contributions made for a number of years but must deduct anything from this total amount which you may have previously claimed when you received your benefits.

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/it428/archived-wage...