What is Box 38 on a T4?
Code 38 – Security options benefits If an employee received a taxable benefit under a corporation’s agreement to issue its eligible shares or units of mutual fund trusts to the employee, enter code 38 and the corresponding amount. Include this amount in box 14.
What is Box 36 on a T4?
Box 36 – Interest-free and low-interest loans Do not report this amount on your tax return.
What is included in Box 40 T4?
Box 40 on your T4 is the amount of Taxable Benefits that you have received in the year. These are benefits paid by the company on your behalf, such as life insurance and company RRSP contributions. Taxable Benefits are identified as such on your pay statements.
What do boxes on T4 mean?
Other information. The “Other information” area at the bottom of the T4 slip has boxes for you to enter codes and amounts that relate to employment commissions, taxable allowances and benefits, deductible amounts, fishers’ income, and other entries if they apply. The boxes are not pre-numbered.
How do I report Severance on my T4?
Retiring Allowance (Severance pay) should NOT be included in Box 14 (Employment Income) on the T4. Currently in AccPac Retiring Allowance (Severance pay) is included in Box 14 (Employment Income), when it should only be reported in Code 66, 67, 68 or 69.
Do I enter box 40 on my tax return?
Do I Report My Box 40 Amount on My Tax Return? Although the amount in Box 40 is already included in Box 14, entering it again will not affect your tax return or add it again to your total income. It is for information purposes only.
What is Box 42 on a T4?
Commissions (box 42) Enter on line 102 the total commissions shown in box 42 on all your T4 slips you received as an employee. This amount is already included in your income on line 101, so do not add it again when you calculate your total income on line 150.
Do I report Box 40?
What do T4 boxes mean?
The “Other information” area at the bottom of the T4 slip has boxes for you to enter codes and amounts that relate to employment commissions, taxable allowances and benefits, deductible amounts, fishers’ income, and other entries if they apply. The boxes are not pre-numbered.
What is Box 20 on T4?
Enter the total amount the employee contributed to a registered pension plan (RPP). If the employee did not contribute to a plan, leave this box blank. Enter any deductible retirement compensation arrangement (RCA) contributions you withheld from the employee’s income.
What box does severance go on T4?
What is a T4 form in Canada?
A T4 form is used in Canada for tax filing and reporting purposes. This form is known as a Statement of Remuneration Paid. It is a tax slip that will be provided to an employee by an employer.
What is T4 tax?
The T4, also known as the Statement of Remuneration Paid, is a year-end tax form that shows how much money you earned in the tax year and how much was withheld and remitted to the Canada Revenue Agency (CRA). You need it when you file your tax return.
What is a T4 slip in Canada?
In essence the Canadian T4 tax slip is a Statement of Remuneration Paid to the employees in the calendar year (regardless of when it is earned) and issued by the employer by February 28 the following year to advise them and the Canada Revenue Agency (CRA) of the amount paid in remuneration to an individual employee.
What is a T4 filing?
Configuration file type. The t4 file extension is related TerrAlign, a sales territory mapping software for Microsoft Windows operating system developed by the TerrAlign Group. The t4 file stores alignment configuration used by the TerrAlign.