It’s almost that time of year! Time to bust out the calculator and file your income taxes—or call your accountant.
You may receive several documents that you should use when filing your taxes.
CLAC Union Members
Union dues are listed in Box 44 of the T4 that is provided by your employer. Dues are tax deductible.
CLAC Benefits Plan Members
Members covered for life, AD&D, short term disability, and/or long term disability under the hour bank system will receive a T4A.
CLAC Pension Plan Members
CLAC Pension Plan contributions remitted on your behalf in 2016 will be reported on the T4 from your employer.
If you had an eligible cash withdrawal from the CLAC Pension Plan in 2016, you will be mailed a T4A slip in a CIBC Mellon envelope by February 28, 2017.
CLAC Group RSP Members
Employer contributions remitted on your behalf to the CLAC Group RSP in 2016 will be reported on the T4 from your employer.
CLAC Group RSP has two account types:
- Registered Retirement Savings Plan (RRSP) – members with funds in this type of account are benefiting from the tax breaks offered with a registered account. CRA outlines who can participate in an RRSP.
- Non-Registered Savings Plan (NRSP) – members with funds in this type of account are not able to take advantage of tax breaks because their funds have not been registered with CRA.
Not sure what account you have? Log in to myCLAC.ca or contact the Retirement Team at email@example.com or 800-210-0200.
Registered Retirement Savings Plan (RRSP) members
Contribution receipt(s) – if you had contributions deposited into an RRSP account, you will receive these receipts:
- Contributions received from February 29 to December 31, 2016 will be included in the contribution receipt that is mailed in January 2017.
- Contributions received from January 1 to March 1, 2017 will be included in the contribution receipt that is mailed in March 2017.
If you made a cash withdrawal from your RRSP, you will be mailed a T4RSP slip in a CIBC Mellon envelope by February 28, 2017.
If you transferred funds from a non-registered (NRSP) account to an RRSP account after February 29, 2016, you will be mailed a T5008 slip by February 28, 2017.
Non-Registered Retirement Savings Plan (NRSP) members
If you have funds in an NRSP account as of December 31, 2016, you will be mailed a T5 slip by February 28, 2017.
If you completed an eligible cash withdrawal from your NRSP, you will be mailed a T5008 slip by February 28, 2017.
There are many deductions available. Visit cra.arc.gc.ca for a full list to see which ones you qualify for.