Your employer issues a T4 slip when you're an employee earning employment income, and a T4A slip when you receive other types of income such as pension payments, RRSP withdrawals, or other taxable benefits. The form your employer or payer sends depends on the type of income you earned, not your job status. Understanding which slip you should receive helps you prepare accurately for tax season and avoid filing errors. Both forms report income to the Canada Revenue Agency (CRA), but they cover different income streams and have different boxes for reporting information. A T4 slip reports employment income and related deductions. You'll receive this if you worked as an employee for a company or organization. The T4 includes: - Gross employment income (salary, wages, tips) - Income tax withheld - Canada Pension Plan (CPP) contributions - Employment Insurance (EI) premiums - RRSP deductions made by your employer - Other benefits (health insurance, stock options) Employers must issue T4 slips by the last day of February each year. A T4A slip reports income from sources other than employment.
Yes. Both T4 and T4A income must be reported on your tax return. T4 income goes on line 10100 (employment income) and T4A income goes on the appropriate line depending on the type of payment (for example, line 11900 for RRSP withdrawals or line 11500 for pension income). The CRA matches all slips to your return, so reporting both accurately is essential.
Yes, it is possible to receive both a T4 and T4A from the same employer if you had different types of income. For example, if you received a pension payment and also worked part-time, you might get one T4 for employment income and one T4A for the pension. Each form reports a different income type.
Yes, RRSP withdrawals are fully taxable as income. Your financial institution will withhold income tax on the withdrawal (usually 20-30% depending on the amount), and that withholding is reported on the T4A. When you file your tax return, the full withdrawal amount is added to your income, and the withholding is credited against your total tax owing. Depending on your tax bracket, you may owe more tax or receive a refund.
For T4A slips related to service fees, the threshold is generally $500. However, financial institutions issuing T4A slips for RRSP or RRIF withdrawals must issue them regardless of the amount. Some employers may issue T4A slips for amounts under $500 depending on their reporting practices, so always check for all slips you receive.
Contact your employer or payer to clarify. If you were classified as an independent contractor instead of an employee, a T4A is correct. If you believe you should have received a T4, your employer may need to correct their classification of your work and reissue your slip.