Time is ticking on T4/T4A season. With the Friday, February 28 deadline fast approaching, are you procrastinating, preparing or already producing your T4 and T4A Information Returns?
What they are?
A T4 (Statement of Remuneration Paid) is employment income paid during a tax year and the amount of income tax that was deducted. As well as salary, employment income can be bonuses, vacation pay, tips, honorariums, commissions, taxable allowances, the value of taxable benefits and payment in lieu of notice. Continue reading