The T4 Statement of Remuneration Paid is one of the most important tax documents for employed Canadians. If you’re preparing your 2025 tax return, knowing how to read and interpret your T4 slip can help you avoid costly mistakes and maximize your refund.
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📄 What Is a T4 Slip?
A T4 slip is issued by your employer and summarizes your earnings and deductions for the year. It’s essential for personal income tax filing in Canada and must be reported to the Canada Revenue Agency (CRA) when completing your return.
🔍 T4 Slip Boxes Explained
| Box Number | Meaning |
|---|---|
| Box 14 | Total employment income before deductions |
| Box 16 | Employee’s CPP contributions |
| Box 18 | Employee’s EI premiums |
| Box 20 | Registered pension plan contributions |
| Box 22 | Income tax deducted |
| Box 24 | EI insurable earnings |
| Box 26 | CPP/QPP pensionable earnings |
| Box 44 | Union dues |
| Box 46 | Charitable donations made through payroll |
📌 Key Tips for Reviewing Your T4 Slip
- Ensure the Box 14 income matches your pay stubs
- Verify tax deductions in Box 22 align with what was withheld
- Compare CPP and EI contributions to CRA maximums
- Watch for duplicate or missing T4s if you worked multiple jobs
📝 What to Do If Your T4 Is Wrong
If your T4 contains an error, contact your employer immediately. They must issue a corrected T4 before you file. Filing with incorrect T4 data may trigger a CRA reassessment.
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💡 T4 Slip vs. Other Slips (T4A, T5, T3)
While a T4 covers employment income, you may also receive:
- T4A for self-employed or contractor income
- T5 for interest or dividend income
- T3 for trust or mutual fund distributions
💰 Why Your T4 Slip Matters
When filing your 2025 Canadian personal income tax return, your T4 slip provides the foundational income and deduction figures that determine your refund or balance owing. Proper understanding = fewer mistakes and more accurate tax reporting.
📥 When Will You Get It?
Employers must provide T4 slips by the last day of February each year. You’ll also find them in CRA My Account under “Tax Slips” if your employer has uploaded it electronically.
Disclaimer: This blog is intended for educational purposes only and should not be considered tax advice. Always consult with a CRA-registered tax professional for personalized guidance.
