No, Box 28 of your T4A can cover alot of things, but as a rule if you receive a taxable benefit from your employer, you will see an amount in Box 40 of your T4. This amount is included in your Box 14 and does not have any effect on your tax return.
Some taxable benefits are shown on a T4A, most commonly these are benefits for retired persons. Any taxable benefits which are eligible for a deduction will transfer to the correct line of your tax return from the entries you make from your tax slips.
Here's a link explaining some of the things you may find in Box 28 of your T4A which will be included on Line 130 - Other Income of your tax return: https://bit.ly/2USSMz5
Hello, I have an amount in box 28 of my T4A slip ( company pension). I’m retired do not work. The company CSSB confirmed that this amount is a payment from our group life insurance as the fund was large and the members were refunded. When I try to do my taxes using Turbo tax it won’t let me use the regular individual tax form, and its forcing me to upgrade to a Business package for double the price. Why is this happening and is there a workaround?
Thanks
@Pebblegirl Under box 28, please make sure to answer NO to the question "Does the income declared in Box 028 consist of fees collected for services you provided?. This will let the program know that your amount is not Self-Employment income.
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