T4 Canada: What is a T4 & When Do T4 come Out in 2025? Complete Guide
This article is a complete guide for your T4 slips. So, if you are unknow of What a T4 is and when T4 come Out in 2025? And the other relevant details about T4 Canada, you must stick to this page and continue scrolling down.
T4 Canada: What is a T4?
A T4 slip is an official tax document that shows your total earnings and deductions for the year. It includes all wages, salaries, and any taxes or other deductions taken from your pay between January 1 and December 31 of the previous tax year. For the 2025 tax year, your T4 slip will be available in the Tax Forms section of your payroll account starting February 6, 2025. Employers must provide T4 slips to all eligible employees by February 28 every year.
If you earned $500 or more in a calendar year, your employer is required to give you a T4 slip. This rule applies to both current and former employees who worked for the company during the year. It is important to note that you may receive more than one T4 slip if you worked for multiple employers or had more than one job in the same year. Employers are responsible for issuing T4 slips for all employees they paid during the year, regardless of whether they still work for the company. The T4 slip helps employees file their taxes accurately and ensures that all income and deductions are properly reported to the Canada Revenue Agency (CRA).
When Does T4 Come Out in 2025?
Every year, employers must file and give out T4 slips to employees before the last working day of February. This is a legal requirement to ensure employees have their tax information on time. Employers must make sure all T4 slips are sent out on time to avoid penalties and ensure employees can file their taxes properly.
| Date | Event |
|---|---|
| February 6, 2025 | T4 slips for the previous tax year will be available in Wave for employers to generate. |
| February 29, 2025 | Deadline to file T4 slips with the Canada Revenue Agency (CRA). |
| February 29, 2025 | Deadline to provide T4 slips to employees. |
When is it Required to Issue T4 Slips?
If you are an employer (whether you live in Canada or not) and you paid your employees wages, commissions, taxable benefits, fishing income, or any other form of compensation, you must issue a T4 slip if any of the following apply:
- You deducted money from your employee’s wages for CPP/QPP, EI, PPIP, or income tax.
- The payment you made is not exempt, and the total earnings for the year are more than $500 (as per CRA rules).
Exception: Even if the total paychecks for the year are under $500, some situations may still require a T4 slip. Employers should check CRA regulations carefully to determine if they need to issue one.
How to generate and Download T4s?
To do the task, initiate the following steps:
- Under the payroll section, click Tax Forms.
- Click Generate under Actions if your T4 slips are ready.
- On the follow-up page, the employer summary will be open for your review.
- If you missed out on any details, you will see a notification to “Fix Missing”. Complete the missed-out information to proceed further.
- Finally, hit the “Generate T4s” option.
Note: To generate T4 slips in Wave, you must have an active or limited access payroll subscription. If it is lapsed, you must click on your business name at the top right corner of your Wave account. Further, hit the Business Settings option and then tap Billing. As soon as the employees generate the T4 slips, they are available in employee Wave accounts.
How to file T4?
Once you generate your T4 slips and summary in Wave, you’ll see a short to-do list to finish your T4 filing. Here’s what you need to do next:
- Download the T4 slips and give them to your employees.
- Download the XML file to upload your T4 slips to the Canada Revenue Agency (CRA) using the Internet File Transfer system.
Wave does not file T4 slips with the CRA. It only helps you generate the T4 slips and summary. You are responsible for filing them with the CRA.
What to do to Correct T4 Slips?
If you commit an error unknowingly and later find it before filing with CRA, you must click on the “Discard current form and start over” option and generate the form again using the steps mentioned below:
- Click Employees under the Payroll section.
- Further, select the Employee.
- Click Personal information.
If you want additional information, please visit your My Account with the CRA to acquire your T4 slip information.