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Tuesday, January 9, 2018

Tax Time Tips in Ontario

It’s almost that time of year! Time to bust out the calculator and do your taxes—or call your accountant. You may receive several documents that you will need when filing your taxes. 

1. T4 slip – This will be issued by your employer.

  • Union dues are listed in Box 44. They are tax deductible.
  • If you participate in the CLAC Pension Plan, contributions remitted on your behalf will be listed in Box 20 and/or Box 52. 

 

2. T4A slip – If you participated in the CLAC Pension Plan and took a cash withdrawal in 2017, you will receive a T4A slip (mailed in a CIBC Mellon envelope) by February 28, 2018. This will be sent to your home address on file, so please log in to myCLAC.ca to confirm or update your contact information.

Many tax deductions are available that you may qualify for. Visit cra-arc.gc.ca for a full list.