@torontotaxboutique: If you work in Canada then it is important to understand your tax return so that you can avoid any future pitfalls. A T4 statement is an important part of filing taxes, as it directly relates to how much income you’ve received. Key Takeaways of the reel: • A T4 slip, or Statement of Remuneration Paid, is a document that summarizes all the money paid by an employer to an employee during a calendar year • Most employers send your T4 electronically by February • Not only a T4 slip includes how much income you earned, but it also shows how much you have contributed to Employment Insurance (EI), Canada Pension Plan (CPP), and how much tax you’ve already paid for the year (i.e., amounts deducted at source). Follow us for more tax tips

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Thursday 19 January 2023 17:46:09 GMT