Respecting a question as to whether an employee should be taxed on employer contributions to a deferred profit sharing plan ("DPSP"), CRA stated (before going on to refer to the exception in s. 147(10.3):
A taxpayer is not required under paragraph 6(1)(a) to include in computing income for a taxation year as income from an office or employment the benefits that arise from the DPSP contributions of the taxpayer’s employer. Consequently, the amount of DPSP contributions that the employer pays to the trustee of the plan for the benefit of one of its employees should not be included in Box 14 of the T4 slip … .