What is T4?

The T4 form is a statement of remuneration paid that is issued to employees in Canada for income tax purposes. Employers are required to provide T4 slips to their employees and submit copies to the Canada Revenue Agency (CRA). The T4 form outlines various types of income received from employment, including salary, wages, tips, bonuses, and commissions, as well as deductions such as income tax, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums. Employees use the information on the T4 slip to report their income and taxes withheld when filing their annual income tax return.