<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=192437601262779&amp;ev=PageView&amp;noscript=1">

Business Owners: Don’t Forget to File Your T4 and T4A Information

Feb 23, 2017 3:16:11 PM The MacMillan Estate Planning Team Tax Planning

T4 and T4A Information Slip due date is February 28Tax season is here which means it is time for business owners to file their T4 and T4A information returns.

These information returns are due on or before the last day of February, following the calendar year to which the information return applies. If this date falls on a Saturday or Sunday, the information is due the following business day.

This year, your 2016 T4 – Statement of Remuneration Paid and T4A – Statement of Pension, Retirement, Annuity or Other Income information is due on or before Tuesday, February 28th.

If you fail to file this information by the due date, you will have to pay a late-filing penalty. For certain returns, including the T4 and T4A, the penalty is reduced so that small businesses do not have to pay unreasonable amounts.

This filing penalty will only be applied if the information is received, or post-marked after the due date of February 28th, 2016.

The penalty is assessed on each T4 or T4A information slip and the amount you pay per slip is determined by the total number of information returns that have been filed late.

The late filing penalty for T4 and T4A slips is as follows, according to the CRA website as of January 25, 2017:

Picture1.png


At MacMillan Estate Planning, our team of professional trust and estate practitioners, chartered accountants, financial planners, and legal professionals look forward to assisting you with the design of your estate plan and will ensure you build, protect, and enjoy your wealth. The information provided is general and may not be suited to your objectives or sufficient to ensure the protection of you and your family. You should not act on this information without providing MacMillan Estate Planning with the opportunity to ensure that it is suitable for your unique situation.


We are here to help
Ask Us a Question

Posts by Topic

see all
checklist_image.png