The T4 slip or “Statement of Remuneration Paid” summarizes the earnings paid to an employee over a calendar year. It also shows other specific amounts that an employee will use later for income tax purposes. Boxes 57, 58, 59 and 60 are not used again this year, but are still required for any 2020 T4 amendments. For information on completing and filing 2022 T4's please visit: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4120/employers-guid

The T4 slip or “Statement of Remuneration Paid” summarizes the earnings paid to an employee over a calendar year. It also shows other specific amounts that an employee will use later for income tax purposes. There have also been revisions for the 2021 calendar year as boxes 57, 58, 59 and 60 are not used this year, but are still required for any 2020 T4 amendments. For information on completing and filing 2021 T4's please visit: https://www.canada.ca/en/revenue-agency/service

The T2200 form is a Declaration of Conditions of Employment that an employer completes for their employees if an employee is required to work from home and/or results in them having to incur expenses while working from home. New for the 2020 tax year, there is a T2200S form that an employer completes for their employees if an employee was required to work from home due to the COVID-19 outbreak and/or resulted in them having to incur expenses while working from home. The T2200

The T4 slip or “Statement of Remuneration Paid” summarizes the earnings paid to an employee over a calendar year. It also shows other specific amounts that an employee will use later for income tax purposes. There have also been revisions for the 2021 calendar year to report earnings during the COVID19 outbreak. For a quick peek at the new T4 reporting requirements for 2020 please visit: https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update/support-employers-cra-c

The T4 slip or “Statement of Remuneration Paid” summarizes the earnings paid to an employee over a calendar year. It also shows other specific amounts that an employee will use later for income tax purposes. There are certain criteria involved upon issuing a T4. As an employer, you would have to complete T4 slips for all individuals who received remuneration during the calendar year if: There were deductions of CPP/QPP contributions, EI premiums, PPIP premiums, or income tax

Not all payments receive the same tax treatment, always ensure you use the appropriate method when calculating withholdings. Salary, wages, overtime, vacation taken, and allowances are examples of a regular payment. Sometimes an irregular or special payment is made to an employee either outside or within the regular pay cycle. Common examples include bonuses, vacation pay (when no time off was taken), retroactive payments, banked overtime, commission payments not regularly pa