T4 Canada: What is a T4 & When Do T4 come Out in 2024? 

Overview of T4 Slips

A T4 slip is a detailed statement that outlines an employee's income, deductions, and benefits for the previous tax year. It covers the period from January.

Availability and Distribution

In 2024, employers can begin generating T4 slips from February 6 onwards. These slips must be distributed to employees no later than February.

Employee Requirement

According to Canadian tax regulations, any employee who earns $500 or more in a calendar year must receive a T4 slip from their employer.

Filing Deadline

Employers are required to file T4 slips with the CRA by February 29, 2024. This filing deadline ensures that the CRA receives accurate income.

Employer Responsibilities

Employers must issue T4 slips to all current and former employees who received remuneration during the tax year.

Generating T4 Slips

To generate T4 slips, employers can access the Tax Forms section in their payroll systems. They must review the generated.