As a corporation, when do I have to issue a T4 slip to my employees?
Allan Madan, CA
You must issue a T4 slip to your employees if any of the following remuneration was paid:
- salary, wages, tips, bonus, vacation pay, employment commission
- taxable benefit or allowances
- retiring allowance
- deductions you withheld during the year
- pension adjustment (PA) amounts for employees who accrued a benefit for the year under your RPP (registered pension plan) or deferred profit sharing plan (DPSP)
Note that the filling deadline for the T4 slip is normally the last day of February of the following calendar year. The amount should include the total remuneration paid in the last calendar year.
Disclaimer
The information provided on this page is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided on this page.
ABOUT THE AUTHOR
ALLAN MADAN
CA.CPA.CGA
Allan Madan is a CPA, CA and the founder of Madan Chartered Accountant Professional Corporation. Allan provides valuable tax planning, accounting and income tax preparation services in the Greater Toronto Area.
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