Why is my taxable benefit added to the box 14 of my T4?

Summary

Explanation of why a taxable benefit is added to the box 14.

Description

http://www.cra-arc.gc.ca/tx/bsnss/tpcs/pyrll/bnfts/menu-eng.html

Resolution

  • Taxable benefits are considered as gross pay for the purposes of federal taxes so they should be included in Box 14 total income on the T4
  • To show the benefit total on the other infomation of T4--when printing the T4 under T4 box options window, select the code beside the benefit to report it on Other information boxes of T4
  • To verify that they are being included, go to Reports, Report Centre, Employees & Payroll, Employee Summary. Run it for the time frame in question
  • The Gross Paid total shows the total of income, the Gross Pay total includes the income total plus taxable benefits
  • Refer to the CRA web site in Additional Information for the definition of benefits


Solution Properties

Solution ID
223924250030077
Last Modified Date
Mon Nov 21 17:54:25 UTC 2022
Attributes
Product Details
Integrated Product: Blueprints
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