Common T4 Forms and Their Purposes
T4 – Statement of Remuneration Paid: Employment income, deductions, and taxable benefits from an employer
T4A – Statement of Pension, Retirement, Annuity, and Other Income: Pensions, scholarships, self-employment income, and miscellaneous sources
T4A (OAS) – Statement of Old Age Security: Old Age Security (OAS) payments
T4A (P) – Statement of Canada Pension Plan Benefits: Canada Pension Plan (CPP) retirement or disability payments
T4A (RCA) – Statement of Distributions from a Retirement Compensation Arrangement: Payments from a Retirement Compensation Arrangement (RCA)
T4E – Statement of Employment Insurance and Other Benefits: Employment Insurance (EI) benefits such as maternity leave or regular payments
T4FHSA – First Home Savings Account Contributions or Withdrawals: Contributions or withdrawals for a First Home Savings Account (FHSA)
T4PS – Statement of Employee Profit-Sharing Plan Allocations and Payments: Allocations or withdrawals from an Employee Profit-Sharing Plan (EPSP)
T4RIF – Statement of Income from a Registered Retirement Income Fund: Withdrawals from a Registered Retirement Income Fund (RRIF)
T4RSP – Statement of RRSP Income: Withdrawals from a Registered Retirement Savings Plan (RRSP)
Why These Forms Matter
Each T4 slip serves a specific purpose, helping you accurately report your income and calculate any taxes owed or refunds due. Including all applicable T4 slips ensures your tax return is complete and compliant with CRA requirements.
CloudTax makes it easy to add any T4 form you have, guiding you through the process step by step for accurate filing.