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New Member
posted Apr 11, 2021 4:20:02 AM

Should T4A box 119 premiums paid to a group term life insurance plan - end up on employment income

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Level 6
Jan 11, 2022 10:15:49 AM

We appreciate you choosing TurboTax,

 

On the T4A slip, Box 119 indicates the life insurance premium paid by the previous employer.

 

During the process of completing your tax return, you have to consider the following:

Report the amount shown in box 119 of your T4A slips on line 10400.

 

It is a taxable benefit, and your employer calculates it and reports it on your T4 slip for current employees (see line 10100) or T4A slip for former employees.

 

Please visit the link provided for further clarifications:

CRA:  Group term life insurance policies – Employer-paid premiums

CRA: Line 10400 - Taxable benefit for premiums paid to cover you under a group term life insurance plan

 

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