You can get access to previous and current tax slips from an issuer through the CRA. Please contact them if you require a copy of your tax documentation, notification, reassessment, income proof, or other tax documents.
What do you know about the T4 slip?
A T4 slip is a tax document that summarises the annual earnings and any deductions from your job. Every year, when tax season arrives, employees are presented with T4 slips. These documents help find out how much one gets earned and deducted for the year.
As T4 plays a role as a government document, therefore, it has quite a lot of information about your income and is essential when it comes to filing your taxes.
What exactly is a T4 slip?
Most Canadians call it a T4 slip, but it is officially known as the "T4 Statement of Remuneration Paid" slip. The information you get from this is essential for completing and filing an appropriate tax return with the Canada Revenue Agency (CRA).
It doesn't matter what you call it. It is a government tax form that shows how much money you earned and how much you paid into government programmes like employment insurance (IE), the Canadian pension plan (CPP), and more. Nobody likes paying more taxes than they have to!
Who receives a T4 slip?
If you are working for a Canadian company, you will get a T4 slip. It is a required document for you while filing your taxes. The company for whom you work will also submit a copy of your T4 slip to the Canadian Revenue Agency, or CRA.
Where do you get the T4 slip from?
You will get your T4 slip from your employer. On the other hand, when they give you a T4 slip, they also send one copy of it to CRA. The slip may be a paper copy that you receive in person or by mail, or a digital copy sent to you via email or via your employer's online payment site.
The employer has to issue their T4 slip until the end of February for the previous tax year. As an example, you should have received your T4 slip for income generated in 2021 by the end of February 2022.
However, if you don't get your T4 slip on time, stay in touch with your company.
Check your mailing address and request that it be reissued to you.
What should I do if I haven't gotten or can't locate my T4 slip?
A very common issue that has been seen with each and everyone is that those who are late in filing their personal income taxes do not know how to recover missing or lost tax returns from prior years.
Trying to find all of the tax slips might be a difficult task, but it is very easy to receive them. When your employer or any payer issues you a tax slip, they also send a copy of it to the Canada Revenue Agency (CRA), which means you may use the online
My Account for Individuals tool to get copies of previous years' returns from CRA or by speaking to the agent of CRA at 1-800-959-8281. Keep one thing in your mind: before calling, you must have your Social Insurance Number and be ready to answer a few security questions. Because CRA wants to be sure if it is you or not. They will, however, usually ask for information so that they can figure out who you are from your most recent tax returns, which have almost certainly not been filed.
In most cases, we can generate tax slips on your behalf. You can also contact filingtaxes.ca and authorize us to work with the Canada Revenue Agency. We are giving you the assurance that there is no obligation to filingtaxes.ca for this service.
If all of your struggles have failed, then you need to choose the final option, which is to file only one year of your tax return for which you have all of the necessary information (hopefully a recent year). Then you will get one year of assessment from CRA, and you may now call them and they can identify you and provide you with what they have available. The catch has vanished.
If you've not filed yet and are worried about revealing yourself to the CRA, please call us first to discuss your concerns (1-416-479-8532).
If you need a tax slip for the current year, you must get it from your employer/issuer.
Penalty alert:
In such a case, if you forget to include a T-slip (income) on your return (even if the CRA has it), you might be fined 20% of the unreported income on the missing slip.
Just keep in mind that there are other documents related to your tax return that the CRA may not get copies of or be able to supply you with, such as T2202As for tuition deductions, T5008s for certain capital gains and losses, and some RRSP contributions that may not be received by the CRA. It's possible that you'll have to get these documents from the original issuer.
If you don't have any medical expenditure receipts, the CRA won't have them. Expense reports are frequently available from your pharmacy. Simply request the annual tax printouts for the years in question. Keep in mind that collecting these receipts may not be worth the effort unless your spending is quite large in contrast to your income. Before you do anything, talk to us or a tax specialist.
Other sources of income and/or costs can be calculated if necessary. However, before doing so, please consult with us or another tax professional.