2023 Tax Information

Below is important information regarding the 2023 tax slips (T4/T4A).

Distribution of 2023 Tax Slips (T4/T4A)

2023 tax slips will be available on or before February 29, 2024. A communication will be sent to all employees advising when they are available in Mosaic. 

New Canada Dental Care Plan T4/T4A Boxes

To support the administration of the new Canadian Dental Care Plan, Canada Revenue Agency (CRA) created the following new boxes on tax slips beginning with the tax slips for the 2023 tax year.

• Box 45 on the T4: Statement of Remuneration Paid
• Box 15 on the T4A: Statement of Pension, Retirement, Annuity and Other Income

A corresponding reporting code (not deduction) will represent the dental coverage an employee had access to under our dental plan as of December 31 of the tax year. “Access” refers to the plan coverage available to an employee and not to the employee’s individual family status or the coverage that may have been elected. For example, the T4 may be coded with a “3” even if the employee has no spouse or dependents.

Canada Pension Plan (CPP) Enhancement Contribution

Beginning 2024, a new enhanced CPP contribution will take effect for earnings above $68,500 up to $73,200 per annum. Read Canada Pension Plan Changes for more information.

As a part of the CPP enhancement, a second additional range of earnings will be phased in between 2024 and 2025.

To support these changes The Canada Revenue Agency has created two new additional boxes on the current T4:

• Box 16A – for reporting of employees’ second CPP contribution
• Box 17A – for reporting of employee’s second QPP contribution

Note:  Although the above boxes will be on the 2023 T4 slips, no amounts will be reported as the second CPP contributions (deductions) will only begin in 2024.

Please do not hesitate to contact the HR Operations Employee Contact Centre at x222HR (47) or via email hr.mcmaster@mcmaster.ca should you have any questions.