Closer Look at the Amounts on the T4 and T4A Tax Forms
T4 Statement of Remuneration Paid
A T4 slip is a summary of your employment earnings and deductions for the year. If you do not receive your T4 slip by the end of February, ask your employer for a copy. The information may also be available online using the My Account for Individuals service on the CRA website.
If you have switched jobs during the tax year, make sure you have received a T4 slip from each employer. If not, be sure to contact them for your T4 slip.
A T4 slip includes information such as your employer’s name, the year in which income was earned, the recipient’s name, address, SIN, employment income and employment insurance (EI) premiums and income tax deducted from pay.
Types of income you should report on T4 slips include salary, wages, taxable benefits or allowances, retiring allowances, deductions you withheld during the year, and pension adjustments.
T4A Statement of Pension, Retirement, Annuity, and Other Income
A T4A slip is used for reporting pensions, retiring allowance, annuities or other income.
Different types of incomes are reported in various boxes of your T4A slip, such as:
Pension or superannuation income in Box 016
Lump-sum payments in Box 018
RESP accumulated income payments in Box 040
To have a better understanding of the different types of incomes on the T4A slip and which incomes do not need to be reported, please visit the below T4A CRA link for more information.
For more information, please refer to these sections on the Government of Canada websites:
Employers' Guide – Filing the T4 Slip and Summary
T4A Slip: Statement of Pension, Retirement, Annuity, and Other Income
(*) This article is intended as general information only and is not to be relied upon as constituting legal, financial, or other professional advice. A professional advisor should be consulted regarding your specific situation.
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