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·March 2026

Understanding Canadian Tax Slips: T4, T5, and More

Every February, Canadians receive tax slips from their employers, banks, and investment accounts. Here's what each slip means and where to find it in your tax return.

Quick Answer

Canadian tax slips are official documents that report your income and deductions to both you and the CRA. Your employer issues a T4 for employment income, your bank issues a T5 for investment income, and there are additional slips for RRSP contributions, pension income, and more. You must include all slips when filing your tax return.

Why Tax Slips Matter

Tax slips are the foundation of your Canadian tax return. Every slip has a corresponding box number that maps directly to a line on your return. Filing correctly means accounting for every slip you receive.

The CRA also receives copies of all your slips directly from issuers. If you forget to include a slip in your return, the CRA will likely flag it — which can trigger a reassessment and possibly penalties.

The Most Common Tax Slips

T4 — Statement of Remuneration Paid (Employment Income)

Who sends it: Your employer Deadline to receive it: Last day of February What it reports: Your total employment income and all the deductions taken from your paycheques: income tax withheld, Canada Pension Plan (CPP) contributions, and Employment Insurance (EI) premiums.

Key boxes to know:

  • Box 14: Employment income (your gross wages)
  • Box 22: Income tax deducted
  • Box 16: CPP contributions
  • Box 18: EI premiums

If you had more than one employer during the year, you will receive a T4 from each.

T5 — Statement of Investment Income

Who sends it: Your bank, investment account, or company paying dividends What it reports: Interest earned in savings accounts, dividends from Canadian stocks, and foreign income.

You only receive a T5 if your investment income from that issuer exceeded $50 during the year. If your savings account earned $12 in interest, you may not get a slip but still technically need to report it.

T3 — Statement of Trust Income

Who sends it: Mutual funds, ETFs, REITs What it reports: Income and capital gains distributed by investment funds you hold.

RRSP Contribution Receipt

Who sends it: Your RRSP provider (bank or investment firm) What it reports: How much you contributed to your RRSP during the year and in the first 60 days of the following year.

This is not numbered like T-series slips but is essential if you want to claim your RRSP deduction on your return.

T4A — Statement of Pension, Retirement, Annuity and Other Income

Who sends it: Various government agencies, pension providers, scholarships What it reports: CPP benefits, scholarships, self-employment income through certain programs, COVID-19 benefits, and other miscellaneous income.

T4E — Statement of Employment Insurance and Other Benefits

Who sends it: Service Canada What it reports: Employment Insurance (EI) benefits received.

Where to Find Your Slips

From Your Employer or Financial Institution

Most issuers mail slips to your address of record. You can also find them:

  • In your bank's online portal
  • In your payroll software (e.g., ADP, Ceridian)
  • Via the CRA My Account (CRA receives copies from all issuers)

Via CRA My Account

Once you have a CRA My Account (see our guide on [how to register](/articles/how-to-register-for-cra-my-account)), you can view all slips the CRA has on file for you. This is the most reliable way to confirm you have not missed one.

What If a Slip Is Wrong or Missing?

If a slip has an error: Contact the issuer (your employer, bank, etc.) directly and ask for an amended slip (called a T4 Amendment). Do not adjust the numbers yourself.

If you are waiting for a slip: Do not file until you have all your slips. If a deadline is approaching and a slip is very late, you can still file based on your best estimate and then file an amendment later.

If an issuer goes out of business: Contact the CRA directly — they can often provide the information on file.

Example Scenarios

Frequently Asked Questions

3 questions

No. Because TFSA income is tax-free, you do not need to report TFSA earnings on your return and no slip is issued for TFSA growth. However, if you hold foreign investments inside a TFSA and earn foreign income, special rules may apply.

You must report world income on your Canadian return. For foreign income, you generally fill in foreign income amounts separately and claim a foreign tax credit to avoid double taxation. Tax software guides you through this, but consulting a tax professional is wise for your first year.

Your T4 is the official record. If you believe it is wrong, contact your payroll department. Discrepancies sometimes happen due to year-end adjustments, payroll errors, or benefits-in-kind (like employer-paid parking or insurance premiums). *This article is for educational purposes only.*