What Tax Slips Do I Need and Where Can I Find Them?

Getting organized early can go a long way to ensuring a smooth tax season. In 2024, April 30 is the deadline for most Canadians to file a tax return. By filing your tax return and paying any taxes owing on time, you’ll avoid any penalties or interest on any taxes you owe, and receive refunds, benefits, or credit payments you may be entitled to without delay.

Here’s a quick guide to some of the most common tax slips and where to find them.

• 1. Employment or Unemployment Income Slips
     Your T4 slips report your annual earnings and deductions. They are typically provided by your employer by the end of February. They may be mailed to you, or you may find them through your company’s online portal. If you were unemployed at any point throughout the year and received unemployment benefits, you can find your T4E on the Canada Revenue Agency’s website through My Account.

  2. RRSP Contribution Receipts
     If you contributed to a Registered Retirement Savings Plan (RRSP), you’ll need your RRSP contribution receipts.  You might receive two: one records the contributions you made up until Dec. 31, and the other records contributions for the first 60 days of this year. Your financial institution or investment brokerage may provide these to you by mail or online.

  3. Investment Income
     If you have other investments, look for T5 slips from your financial institution or investment brokerage, either through mail or their online platform.  They will detail your income from dividends and interest.

  4. Education Expenses
     If you’re a post-secondary student, you’ll need your T2202A from your educational institution.  This documents your tuition fees and months of enrollment for your education credits. You may be able to find this on your student portal, or through the registrar’s office.

  5. Work From Home Expenses
     If your employer requires you to work from home some of the time, you may need a T2200 from your employer. This certifies that you were required to pay for some of your home office costs, and allows you to deduct some of those expenses.

Every tax situation is different. If you have medical expenses, child care expenses, or are self-employed, you may also need to collect and calculate your receipts. It’s also worth finding out what’s new to the 2024 income tax and benefit return as there may be new deductions you may qualify for.  Consult with your tax advisor, accountant and/or legal advisor for specifics related to your tax situation.  

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