Get the 411 on your T4
You’ve got mail and it’s likely your T4, as the deadline for employers to mail them out is fast approaching. Each year you receive a Statement of Remuneration Paid – aka your T4 – which indicates how much you were paid during a tax year (yippee!) and how much income tax was deducted (sigh). If you had more than one job in a year, you’ll receive a T4 slip from each employer.
What’s with all those boxes?! And numbers?! And acronyms?!
When your T4 does arrive, you’ll recognize some things like your name and the name of your employer, but the rest may seem unfamiliar – what exactly does it mean to be exempt from CPP, EI and PPIP? Why are there so many line numbers? Don’t worry, we’ve got you covered. Check out our handy guide to help you read your T4 and understand what it all means.
Still have questions? A tax expert at H&R Block can help you understand your T4 slip. Find an office near you, or if you’re ready to file, do it yourself with our online software.