T4 Box definitions

Information  

• Products: 365 
• Summary: T4 Box definitions 

Details

This document provides a brief explanation of each box in a T4 form for individuals in Canada, including the purpose of the box and the types of income or deductions that may be reported in each box.

Resolution  

• Box 14:  Your employment income for the year (the amount of money you earned during the calendar year from this specific employer). 
• Box 16:  Canada Pension Plan (CPP) premiums that were deducted off your pay for the year and remitted to the government of Canada.  When you retire, you start getting this back.  
• Box 18:  Employment Insurance (EI) premiums that were deducted off your pay for the year and remitted to the government of Canada.  This funds Canada's population that are out of a job and on EI.  If you were to get laid off, you are also able to claim EI. 
• Box 22:  You may want to sit down for this one.  This is the amount of taxes that were deducted from your pay and remitted to the CRA/government of Canada. 
• Box 24/26:  EI and CPP insurable earnings. 
• Box 40:  Taxable allowances or benefits (i.e. employer provided vehicle).  This amount is also included in Box 14. 
• Box 44:   Union dues you paid during the year (and deducted off your pay). 
• Box 46:  Charitable donations made during the year (and deducted off your pay). 
• T4A Slip - Commission Income 
• Box 20:Self-Employed commission income received during the year.  This amount does not include GST/HST.  You can deduct business expenses against this income to reduce your taxes payable to the CRA. 
• Box 22:  The amount of taxes that were deducted from your pay and remitted to the CRA/government of Canada. 
• T5 Slip - Investment Income (Dividend and/or Interest Income) 
• Box 10 or 24:  The amount of dividends received during the year as a shareholder of a company.  Whether a dividend received falls into Box 10 or Box 24 depends on the company that you are receiving the dividend from. 
• Box 11 or 25:  Taxable amount of dividends received (again, based on the company that you are receiving the dividend from).  The Government of Canada has a specific calculation that it attaches to dividends received.  This is the amount that is inputted into your T1 personal income tax return. 
• Box 12 or 26:  A dividend tax credit received based on the calculation that is attached to the dividend, as mentioned above. 
• Box 13:  Interest income received from Canadian sources (i.e. Canadian banks). 
• Box 18:  Capital gain dividends received. 
• Box 27:  The currency in which the specific income or dividends were received.  All amounts needs to be converted to Canadian dollars. 

CRA Reference Link: T4 slip: Statement of Remuneration Paid - Canada.ca 

Impact / Risks 

Not Applicable 

Workaround  

Not Applicable 

Related Information 

CRA Reference Link: T4 slip: Statement of Remuneration Paid - Canada.ca 

Update History 

The following are the dates and actions pertinent to the history of this issue. 

Attachment 

 Not Applicable.