Employment income is included on a T4 for the year in which it is received, not earned. If a payment is made in January 2012 for wages earned in December 2011, this amount will be reported on the 2012 T4, not on the 2011 T4.
A T4 slip must be completed for each individual who received remuneration during the year if:
| · CPP/QPP contributions, EI premiums, income tax, or Québec PPIP premiums had to be deducted from the remuneration, or | |
| · the remuneration was more than $500 |
Filing T4 Slips
An employer can file up to 50 T4 slips using CRA’s T4 Web forms and no software is required for this. For employers with more than 50 T4 slips are required to file electronically. Keep in mind that 2011 T4 slips must be submitted by February 29th, 2012.