Plain meaning
An information slip reporting employment income, payroll deductions, and related amounts for a calendar year.
Also called
Statement of Remuneration Paid
T4 slips
T4
Key points
- Employers issue T4 slips to employees and report the same information to CRA.
- A T4 usually reports employment income, income tax withheld, CPP contributions, EI premiums, and certain pension or benefit amounts.
- Employees use T4 information to complete the income and deduction portions of the return.
- Payroll errors can lead to amended slips, reassessments, refund changes, or balances owing.
- Waiting for the correct T4 can prevent missed income and later CRA matching issues.
Why it comes up
T4 slips are central to employee filing, payroll compliance, CPP and EI reporting, and CRA matching.