[Free Download] Group Insurance Tax Guide for 2023
By: Benefits by Design | Tuesday March 8, 2022Updated : Tuesday February 7, 2023
Each year, Benefits by Design (BBD) Inc. produces a Canadian Group Insurance Tax Quick Facts Guide (say that five times fast) for employers and Advisors. This Guide includes critical information about taxes, their implications, taxable and non-taxable benefits, and their rates as they affect group benefits plans each year.
Download this year’s Tax Quick Facts Guide (PDF: 224 KB)
Benefits by Design (BBD) Inc. makes every effort to ensure that this document is accurate and up-to-date. However, legislature and policies may change over time. This document is updated annually for each new tax year.
What is in the Tax Quick Facts Guide?
Here’s what you can expect from the Guide:
- Canada Pension Plan (CPP) annual contribution limits;
- Quebec Pension Plan (QPP) annual contribution limits;
- Employment Insurance (EI) annual update of the weekly maximum;
- Quebec Parental Insurance Plan (QPIP) annual updates;
- Registered Pension/Savings Plan annual contribution limits;
- Provincial Medical Plan information, including funding and payroll exemptions;
- Group Benefits Taxation, detailing which benefits are taxable or non-taxable.
Group Benefits Taxation: What are Non-Taxable and Taxable Benefits?
Looking for Previous Years’ Tax Guides?
We update the Tax Quick Facts Guide annually to be relevant for the new tax season. However, if you have a need for any of the previous Tax Guides, here they are:
- 2018 — Download Now
- 2019 — Download Now
- 2021 — Download Now
- 2022 — Download Now
Unfortunately, due to the COVID-19 pandemic that began in March, 2020, we did not update the Tax Quick Facts Guide for that year.