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Home » T4 Slips in Canada: Important 2024 Deadlines

T4 Slips in Canada: Important 2024 Deadlines

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What is a T4 Slip?

A T4 slip is a document showing your earnings and deductions for the previous year (Jan 1 to Dec 31). For 2024, you can access your T4 slip from February 6. Employers must provide T4 slips to employees by February 28 each year. If you earn $500 or more in a year, your employer must give you a T4 slip. You might get more than one T4 if you have multiple jobs in a year.

When Are T4 Slips Available in 2024?

Key Dates:

  • February 6, 2024: T4 slips available to generate.
  • February 29, 2024: Deadline to file T4 slips with the Canada Revenue Agency (CRA) and to distribute them to employees.

When Must Employers Issue T4 Slips?

Employers must issue T4 slips if:

  • They deducted CPP/QPP, EI, PPIP, or income tax from employees’ wages.
  • They paid employees more than $500 in the calendar year.
  • They provided taxable group term life insurance, regardless of the total pay amount.
t4 deadline 2024

How to Generate and Download T4s?

Steps to generate T4 slips in Wave:

  1. Go to the Payroll section and click on Tax Forms.
  2. Click Generate under Actions.
  3. Review the employer summary.
  4. Fix any missing details if prompted.
  5. Click Generate T4s.

Note: You need an active payroll subscription in Wave to generate T4 slips. If your subscription has lapsed, reactivate it in Business Settings under your account name.

How to File T4 Slips?

After generating T4 slips in Wave:

  1. Download the T4 slips to give to employees.
  2. Download the XML file for internet file transfer to upload to the CRA website.

Note: Wave does not file T4 slips with the CRA; it only helps you generate them.

Correcting T4 Slips

If you make a mistake before filing with the CRA, discard the incorrect form and start over. Steps:

  1. Go to the Payroll section and click on Employees.
  2. Select the Employee.
  3. Click Personal Information to update details.

For more information, visit your CRA My Account.

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