What is Box 32 on T4?

What is Box 32 on T4?

The travel benefit found on box 32 of your T4 slip. The total of your travel expenses. The lowest return airfare available at the time of the trip between the airport closest to your Northern residence and the nearest city.

What is included in Box 40 T4?

What is box 40 on my T4? Box 40 on your T4 is the amount of Taxable Benefits that you have received in the year. These are benefits paid by the company on your behalf, such as life insurance and company RRSP contributions. Taxable Benefits are identified as such on your pay statements.

What is Box 34 on a T4?

Box 34 – Personal use of employer’s automobile or motor vehicle. Do not report this amount on your tax return. This amount is already included in box 14.

What is Box 30 on a T4?

The “Other information” area at the bottom of the T4 slip has boxes for you to enter codes and amounts that relate to employment commissions, taxable allowances and benefits, deductible amounts, fishers’ income, and other entries if they apply.

What are the boxes on a T4?

Other information. The “Other information” area at the bottom of the T4 slip has boxes for you to enter codes and amounts that relate to employment commissions, taxable allowances and benefits, deductible amounts, fishers’ income, and other entries if they apply. The boxes are not pre-numbered.

Can I claim northern living allowance?

If you lived in a northern zone, you can claim the basic amount of $11 for each day that you lived in this zone. If you lived in an intermediate zone, you can claim the basic amount of $5.50 for each day that you lived in this zone.

What do T4 boxes mean?

T4 Slip – Employment Income Box 14: Your employment income for the year (the amount of money you earned during the calendar year from this specific employer). Box 16: Canada Pension Plan (CPP) premiums that were deducted off your pay for the year and remitted to the government of Canada.

Do I report Box 40?

Do I Report My Box 40 Amount on My Tax Return? Although the amount in Box 40 is already included in Box 14, entering it again will not affect your tax return or add it again to your total income. It is for information purposes only.

What is Box 26 on a T4?

Box 26 represents the pensionable earnings subject to the maximum limit. This means it is box 14 less any earnings that are not subject to CPP contributions.

Can both spouses claim northern residents deduction?

Claiming the NRD To claim the NRD, you must fill out Form T2222, Northern Residents Deduction. In other words, if you have decided that your spouse will claim both the basic residency amount and the additional amount, you can still claim the travel expenses deduction.

Is Yellowknife Zone A or B?

Yellowknife is located in a prescribed northern zone based on the list provided on Northern residents.