Around the end of February each year, employers, payers and administrators send out income tax information slips to tell Canadian taxpayers, and the Canada Revenue Agency (CRA), how much income and benefits they earned in the previous income tax year, and how much income tax was deducted. If you don't receive an information slip, you are required to ask your employer or the issuer of the slip for a duplicate copy. Use these tax slips in preparing and filing your Canadian income tax return and include copies with your tax return.
These are common T4 and other tax information slips.
T4s are tax information slips prepared and issued by employers to tell you and the CRA how much employment income you were paid during a tax year and the amount of income tax that was deducted.
T4As are prepared and issued by employers, trustees, estate executors or liquidators, pension administrators, or corporate directors to tell you and the CRA how much of certain types of income they paid you during a tax year and the amount of income tax that was deducted. T4As are used for a variety of different types of income, including pension and superannuation income, self-employment commissions, RESP accumulated income payments, death benefits and research grants.
T5s are tax information slips prepared and issued by organizations which pay interest, dividends or royalties to tell you and the CRA how much investment income you earned for a given tax year. Investment income included on T5 tax slips includes most dividends, royalties and interest from bank accounts, accounts with investment dealers or brokers, insurance policies, annuities and bonds.
No comments:
Post a Comment