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One stop for your T-slips

on Sun, 03/24/2013 - 11:37

 

April, this is the "taxation month". Everyone is working to get the T-slips together. Have you had an experience that you know how you have been waiting on one more tax slip in order to do your taxes? How does it feel? 
 
Well, many people would like to file their income tax return as soon as they can, not just to beat the rush, but since most of us are being employed, we have usually a tax refund coming back, so we would like to have access to that money sooner than later.
 
So, you know there is one place you can access all your T4-slips, avoiding the wait altogether? YES, that's the CRA website. Since all you employers have to file T4-slips (no matter it is T4Es or T4As) by the end of February, CRA has all those on record before those slips get to your home. 
 
Here, once you have got yourself registered, very similar to the registration process on Service Canada's website, the CRA will send you "security code" by mail. You have a few months to go online and enter that code, so that you complete the registration process.
Once, that's done, again, you have to agree to their Terms and Conditions.
When you get into your account, you will be able to check your TFSA contribution amount (which is sort of confusing if you don't track it); your RRSP contribution room; and your tax return information… Hold on!! Tax return information!!
Which includes T4s!!! No matter that is T4 from your employers, contracting companies, EI income or pension income, as long as your income is taxable, you can get that T4 slip from here! No more missing T4-slips!
As this stage, CRA is still working on putting your T5 (interest income) and T3 (investment income, like dividend and capital gains) into the system, hopefully that will happen soon! 

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