Filing your taxes can be a complicated process. As a Canadian taxpayer, you likely receive a variety of tax slips each year that are essential for completing your tax return accurately.
Failure to report your tax slips properly can lead to problems with the Canada Revenue Agency (CRA), including reassessments, audits, penalties, and interest charges.
With the knowledge from this guide, you’ll be fully prepared to leverage your tax slips effectively for a smooth tax filing process.
What Are Tax Slips and Why Are They Important?
A tax slip, also called an information slip, is a form documenting income and deductions that must be reported when you file your tax return each year.
Financial institutions, employers, and government agencies issue tax slips to report the various types of income and benefits you receive during the tax year.
Some of the key details typically included on a tax slip are:
- Total income amount from a particular source
- Taxes withheld or deducted
- Benefits contributions like CPP, EI, and pension
- Tuition credits accumulated
- Details on RRSP contributions and withdrawals
You must report all tax slips you receive to avoid facing problems with the CRA, such as:
- Owing more tax, interest, and penalties due to unreported income
- Delayed refunds and benefit payments
- Jeopardizing your contribution room for tax-sheltered accounts
- Potential for an audit if your return doesn’t align with CRA records
Therefore, proper tracking and reporting of every tax slip you receive is crucial for a smooth tax filing process.
Common Tax Slips Canadians Receive
Here are some of the most common tax slips Canadian taxpayers typically receive, along with an overview of the information provided:
| Tax Slip | Overview |
| T4 | Employment income and deductions |
| T4A | Pension, retirement, and other non-employment income |
| T5 | Investment income from non-registered accounts |
| T3 | Income from trusts, mutual funds, partnerships |
| T2202 | Tuition credits for students |
| T2200 | Certifies employment expenses for deductions |
| T777 | Declares unreimbursed employment expenses for deductions |
| T4E | Employment insurance benefits |
| T4A(OAS) | Old Age Security pension |
| T5013 | Partnership income/loss allocation |
| T5008 | Securities transactions |
| RRSP Receipts | RRSP contributions |
| T4RSP | RRSP withdrawals |
| T4RIF | RRIF minimum withdrawals |
| T4A(P) | Canada Pension Plan benefits |
| T4FHS | First Home Savings Account transactions |
T4 Slip – Statement of Remuneration Paid
The T4 tax slip summarizes your total employment income, including salaries, commissions, bonuses, vacation pay, and taxable benefits.
It details your income tax, CPP, and EI deductions, along with any other contributions. You receive a T4 slip from each employer you worked for during the tax year.
T4A Slip – Statement of Pension, Retirement, and Other Income
The T4A reports pension income, annuity payments, RESP withdrawals, and other income types not covered under the T4.
This includes scholarship income, self-employment commissions, and taxable government benefits like CERB or CRB.
T5 Slip – Statement of Investment Income
The T5 slip documents investment income from non-registered accounts, including interest, dividends, and income distributions. Financial institutions issue T5 slips for accounts not sheltered in registered plans like RRSPs or TFSAs.
T3 Slip – Statement of Trust Income
A T3 slip reports income earned in mutual funds, trusts, and limited partnerships. It summarizes interest, dividends, capital gains, and other income allocated to you by these entities.
T2202 Slip – Tuition and Enrolment Certificate
Post-secondary students receive a T2202 documenting their tuition fees and months enrolled to support tuition credit claims.
Form T2200 – Declaration of Conditions of Employment
The Form T2200 certifies that you were required to pay employment-related expenses like home office costs. This allows you to deduct these expenses when filing your taxes.
Form T777 – Statement of Employment Expenses
The Form T777 allows employees to declare employment expenses they paid out of pocket that were not reimbursed by their employer. This allows eligible employees to deduct these expenses when filing their taxes.
T4E Slip – Statement of Employment Insurance and Other Benefits
The T4E slip reports employment insurance (EI) benefits received and taxes withheld. It includes regular EI benefits, fishing benefits, maternity/parental benefits, etc.
T4A(OAS) Slip – Statement of Old Age Security
The T4A(OAS) provides details on Old Age Security pension amounts received and any Recovery Tax or Deferred Provision if applicable. It reports total OAS benefits and taxes withheld.
T5013 Slip – Statement of Partnership Income
The T5013 summarizes each partner’s partnership income/loss allocation, capital gains/losses, and other amounts from a business partnership. It also provides carry-forward totals for losses.
T5008 Slip – Statement of Securities Transactions
The T5008 reports proceeds from securities dispositions, commissions paid, and acquisition details to calculate capital gains/losses. Financial institutions issue it for non-registered investment accounts.
RRSP Contribution Receipts
RRSP contribution receipts document amounts contributed to an RRSP for deduction claims. They confirm the contribution room used and any carryforward amount remaining.
T4RSP Slip – Statement of RRSP Income
The T4RSP provides details on RRSP or RRIF withdrawals, income tax withheld, amounts considered repaid under HBP or LLP, etc.
T4RIF Slip – Statement of Income from a RRIF
The T4RIF shows income earned in an RRIF during the year, minimum amounts withdrawn, and any tax withheld on payments.
T4A(P) Slip – Statement of Canada Pension Plan Benefits
The T4A(P) reports CPP retirement benefits along with any Recovery Tax deducted for recipients under age 65. It provides the details needed to report CPP income.
T4FHS Slip – First Home Savings Account (FHSA) Statement
The T4FHS summarizes deposits and withdrawals from a First Home Savings Account and contribution room left for a year. It supports claims for the FHSA deduction.
When and How to Get Your Tax Slips
There are rules for when and how you get tax slips. You can expect to receive tax slips on certain dates and in different ways.
Deadlines for Receiving Tax Slips
Employers and financial institutions are required to issue most standard tax slips by the end of February following the tax year. This includes slips like the T4, T4A, T5, and T4A(P).
Certain slips have a later deadline of March 31, including the T3, T5013, and RRSP contribution receipts.
| Tax Slip | Regulatory/Expected Mailing Date |
| T4, T4A, T5, T4A(P) | February 28 |
| T3, T5013, RRSP Receipts | March 31 |
Ways to Get Your Tax Slips
There are several ways you can get copies of your tax slips:
- Mailed to your address by your employer or financial institution
- Available through your company or bank’s online portal
- Access through CRA MyAccount for certain slips like T4, T4A, T4E, T4RIF, etc.
- Request missing slips directly from your employer or financial institution
What If I’m Missing a Tax Slip?
If you’re missing a tax slip, first check CRA MyAccount in case it’s available there. If not, contact the issuer directly to request a copy. Most will reissue lost slips upon request.
If you’re unable to get a copy of a lost tax slip, you may have to estimate the income amount to the best of your ability when filing your return. Including a detailed note explaining your estimate will help avoid problems if the CRA receives a copy with a different amount later.
Using Tax Slips When Filing Your Return
Tax slips directly correspond to the specific boxes and forms on your T1 Income Tax and Benefit Return. Here are some key tips for leveraging your slips effectively:
- Attach slips to your return or keep them for your records
- Tax software can auto-import most slip data when filing electronically
- Each slip has a guide on which boxes to fill out on your T1 return
- Double-check that amounts match exactly between slips and T1 forms
- Include detailed notes on any estimated amounts reported
Other Deductions and Credits to Consider
While tax slips cover most standard income types, make sure to look at other deductions and credits you may be eligible to claim on your tax return:
- RRSP contributions
- Child care expenses
- Medical expenses
- Moving expenses
- Child fitness tax credit
- Home accessibility tax credit
- Digital news subscription costs
- Charitable donations
- Student loan interest
Thoroughly reviewing deductions and credits can help further reduce your tax burden.
Meeting the Tax Filing Deadline
The CRA tax filing deadline is April 30 for the previous year’s tax return. Late filing without an extension can result in penalties. You must also pay any tax owing by April 30 to avoid interest charges.
File your return early to get your refund faster and ensure you don’t miss any deadlines. If you owe taxes, make sure to have a plan in place by April 30 to avoid interest penalties.
Key Takeaways on Tax Slips
- Tax slips are essential for accurately reporting income and deductions when filing your taxes. Common slips include the T4, T4A, T5, T3, and T2202.
- Pay close attention to tax slip due dates and retrieve any missing slips promptly to avoid problems.
- Attach slips to your return and double-check they match the amounts on your T1 tax forms.
- Look for other deductions and credits you can claim beyond what your slips report.
- File before the tax deadline and leverage resources like the CRA and tax professionals to ensure you maximize your tax position.
Following the guidance in this tax slip guide will help ensure you leverage your slips effectively for a smooth tax filing process. With this guide’s knowledge, you can confidently approach tax season.
FAQs related to Tax Slips in Canada
How do I get my tax slips in Canada?
Most tax slips are issued by your employer, banks, investment brokers, pension administrators, and other institutions by the end of February. They are usually mailed to your home address or available electronically through online portals.
What are the main types of tax slips in Canada?
The most common tax slips are T4 for employment income, T4A for commissions or other types of income, T5 for investment income, T3 for income from trusts, and T5007 for government benefits.
When should I receive my tax slips in Canada?
Most tax slips must be mailed or made available to recipients by the end of February following the tax year. However, T3 slips can be issued until March 31. Ask your payer if you haven't received your slip by the deadline.
Why are tax slips important?
Tax slips contain information needed to accurately report your income and deductions when filing your tax return. They help substantiate claims and ensure you pay the correct tax. Missing slips could lead to errors, delays, or penalties from CRA.
Can I file my taxes without all my tax slips?
You can file your return with some slips missing, but this may delay processing or result in adjusting assessments later. It's best to wait until you have all slips before filing unless the deadline is approaching.
How long should I keep my tax slips?
You must keep all tax slips for a minimum of 6 years from the tax year they relate to in case CRA wants to verify details from your tax returns.