T4 from insurance company for non-taxable LTD?


#1

Will I get a t4 from the insurance company even though my LTD is non-taxable?


#2

Nope. They do not issue any accounting your LTD income. At least Manulife doesn’t.


#3

Jammer - I agree with DerekW. You will not receive any tax slips for your LTD income from any organization. In your specific situation, your LTD income is non-taxable and no income tax was deducted from your LTD payments, therefore there isn’t anything to report to Revenue Canada.

LTD income is non-taxable only in the situation where the disabled person paid 100% of the LTD premiums before going on claim (e.g. the employer did not contribute any portion of the premiums).


#4

Why do some employers even pay some of the premiums, it seems better when they don’t?


#5

T Slips are only issued by LTD provider if your benefit is taxable. So if non-taxable you should expect no T slip.


David Brannen

Disability Lawyer with Resolute Legal

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