Monday, March 9, 2020

T4A(P) Tax Slip for Canadian Income Taxes

T4A(P) Tax Slip for Canadian Income Taxes A Canadian T4A(P) tax slip, or Statement of Canada Pension Plan Benefits, is issued by Service Canada to tell you and the Canada Revenue Agency how much you received in Canada Pension Plan  benefits during a tax year and the amount of income tax that was deducted. Canada Pension Plan benefits include retirement, survivor, child, and death benefits. Read on to learn important information about T4A(P) tax slips, including the deadline for submitting them, how to file these forms and what to do if your  T4A(P) is missing. Deadline and Filing the T4A(P) T4A(P) tax slips must be issued by the last day of February the year after the calendar year to which the T4A(P) tax slips apply.  When you file a paper income tax return, include copies of the T4A(P) tax slip you received. You can also file your income tax return using: NETFILE, an electronic tax-filing service that allows you to send your individual income tax and benefit return directly to the CRA​EFILE, where you  prepare your own income tax return then take it to a service provider to file it electronically for a fee In either case,  keep copies of your T4A(P) tax slips with your records for six years in case the CRA asks to see them. Missing Tax Slips If you do not receive your T4A(P) tax slip, contact Service Canada at  1-800-277-9914  during regular business hours. You will be asked for your Social Insurance Number. Even if you havent received your T4A(P) tax slip, file your income tax return by the deadline anyway to avoid penalties for filing your income taxes late. Calculate your Canada Pension Plan benefits as well as deductions and credits you can claim using any information you have. Include a note saying what you have done to get a copy of the missing tax slip. Include copies of any statements and information you used in calculating the benefits income and deductions for the missing tax slip. Tax Slip Information You can see what a  T4A(P) tax slip  looks like via the CRA website. You will also find more information about what is included in each box on the T4A(P) and how to deal with it when filing your income tax return through the site. Access more information on what is listed on specific boxes of the T4A(P), including: Taxable CPP benefitsIncome tax deductedYour retirement benefitSurvivor benefit The web page also provides information on the child, death, post-retirement benefits, and more. Other T4 Tax Slips Other T4 tax information slips include: T4:  Statement of remuneration paidT4A: Statement of pension, retirement, annuity, and other incomeT4A(OAS):  Statement of old age securityT4E: statement of Employment Insurance and other benefits Familiarize yourself with these tax slips to ensure that you file your taxes correctly but also receive all of the benefits you are owed.