Premiums paid to a wage loss replacement planYou receive payments from a wage loss replacement plan and you have contributed in part to this plan in the past.
To reduce the taxable amount of salary insurance, in relation to the total premiums or contributions you made, please use the following procedure:
1 - On the "Left -side menu of the Interview tab ", select "T4A and pension income".
2 - On the screen on the right, select "T4A - Pension, retirement, annuity and other income (benefits (COVID-19 benefits)".
3 - On the page that appears, scroll down to the section "Footnotes relating to specific T-slip entries and Box 135 (RL-2, Box 235)" and choose from the drop down menu "Note - Premiums paid to wage loss replacement plan".
4 - Enter the amount you paid to the plan as a premium and it will reduce your benefit amount.Note: You must enter your payment received from a wage loss replacement plan which you will find in Box 107 of the T4A slip,
To enter this amount, still on you T4A slip, go to the "OTHER INFORMATION (click the triangle to see the list of choices) " section, and choose from the drop-down menu "(107) Payments from wage-loss replacement plan (Box O Code RN) ".
Your insurance benefit will thus be reduced by the amount of premiums paid and will be carried to line 10400 of the federal return and line 107 of the Quebec return.
For more information, please consult the following link:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/personal-income/line-10400-other-employment-income/line-10400-income-maintenance-insurance-plans-wage-loss-replacement-plans.htmlID: 20211013084825DE.xml
Webpage: KPA370-20211013084825DE.htm