T4 & T5 Deadline Reminder

Dear Clients, 

This is a reminder that the filing deadline for issuing 2023 T4 and T5 slips is February 29th, 2024.

To guarantee that we can prepare your 2023 T-slips before the filing date, we will require your information by Monday, February 12th.

T4 Information Required:

To prepare T4 slips, we require the following information for each employee:

·     Full Name, Social Insurance Number, and address

·     Payroll details, including a breakdown of the gross amounts earned by the employee on each pay date, and breakdown of the source deductions paid to CRA

·    Details of auto allowance, if applicable

* New Required Information this year for T4's:

Beginning with the 2023 tax year, employers must report on the T4 slip whether, on December 31st of the taxation year, a payee or any of their family members were eligible to access dental insurance or dental coverage of any kind, including health and wellness accounts.

 Please let us know for EACH employee, which of the following codes should be used. If you don't offer benefits of any kind to any employees, you can simply indicate that.

 Codes are as Follows:

Code 1- No benefits

Code 2- Payee only

Code 3- Payee, their spouse, and dependent children

Code 4- Payee and their spouse

Code 5- Payee and their dependent children

Information for Construction-Related Businesses

If you operate a construction related business and you make payments to subcontractors for construction services, you are required to file a T5018 Summary and related slips. For more information on the Contract Payment Reporting System, please visit CRA’s website at:

T-Slip Fees:

For the upcoming 2023/24 T-slip season, our fees remain the same:

·    T4 Slip & Summary - $500 & up (depending on complexity and volume); and

·    Other T-Slips & NR (Non-Resident) Slips - $250 & up (also depending on complexity and volume)

If you have any questions, give us a call 905-474-3211 (EXT. 121) or 416-727-7875