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What to do if you still haven't receive all your tax slips

on Tue, 03/15/2016 - 18:07

By now, you should have already received your T4/T4As, T3s and T5s, majority of us would have gotten your RRSP receipts for your 2015 RRSP contributions. Some of you, however, might still be waiting on their first 60 days RRSP contribution receipts. If that’s the case, this is the time you can start calling the financial institutions for them.

In most cases, all companies have till the end of February to issue any T4s/T4As to our employees or associates. Bear in mind, if you miss the deadline, CRA will penalize you, not to mention you might screw up your employees or associates’ tax filing. So, let’s not do that.

If you are not too sure what you need and what you would expect for your tax return, you can reference this post I did - Tax reporting tips.

So, what happens if you still haven’t got your T4s/T4As?? 

Believe it or not, your T4 is not as important as you thought as long as you have pay stubs. All the information on your T4 is being provided on the last pay stub of the year. However, T4As are much more important as sometimes, tax details on T4A filers (commission sales) have more complex payment structures.

Since T4 earners have till end of April to file their tax (and June for self-employs), there is still time we can try to get the needed documents for tax time.

Call your employer / the parties who issue the T4/T4A
- of course, the most direct way is to call the people who are responsible for it!

Call CRA at 1-800-959-8281
- since all filing goes back to CRA, after end of Feb (the deadline for people to file T4/T4As), CRA should have your T4 on file by then.

Get yourself online - register at Service Canada and CRA
- I cannot stress any more how important it is to get yourself register online so that it comes in handy whenever you need it.

If you have no luck/ ran out of time before you can get your “My Account” up in running, and you have not kept your last pay stub, then you just have to estimate your income (IF you can get a hold of your end of June pay stub… you can use those numbers times 2 :D) You can also follow WizeBiz's post on Haven't Received Your T4? Find Out How To File Income Tax to estimate your income.

Gather as much information as you can to file your tax. Beware, the CRA will not voluntarily give you refunds on tax credits you are entitled for, you have to file it in and ask for it. They will however, for sure, chase you on tax you owe! Getting all your tax slips together is always YOUR responsibility, not the banks which hold your money, not the investment firms which manage your investments, nor your financial advisor or your accountant.

Make sure to open mails as they come in and put together all the needed statements and slips so that you do not donate your tax refunds to the government! No to mention, some financial institutions will charge for duplicates they have already sent out!

Save time, energy and money when you have your slips and statements file properly.

Happy tax season.

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