With the deadline to file your taxes fast approaching, you may be wondering if you have everything you need to file your taxes. Documents such as receipts, RRSP/FHSA contribution receipts, statements of assets and liabilities, and T4s are all examples of paperwork that you may need to file your income taxes.
But are there any other slips you might need? If you’ve received certain EI-funded benefits from the government, you may need a T4E slip to file your taxes.
Key Takeaways
- The T4E is a Statement of Employment Insurance and Other Benefits slip.
- You’ll receive a T4E slip if you’ve received Employment Insurance (EI) or other EI-funded benefits.
- The T4E includes the benefit amounts you received and any taxes paid on the benefits.
What is a T4E Slip?
The T4E is a Statement of Employment Insurance and Other Benefits slip that is issued for tax purposes.
You will receive a T4E slip if you received Employment Insurance (EI) or other EI-funded benefits such as:
- Work-sharing benefits
- Were required to repay EI Benefits
- Maternity benefits or parental benefits
- Assistance through an approved employment program
- Covid-19 benefits (ex: CERB)
- Tuition assistance
Note: Residents in Quebec who fall under any one of the above-mentioned categories will receive a T4E(Q) slip.
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These slips will outline the gross amount of benefits paid out during the tax year. They also show how much income was tax deducted and any amounts paid back towards any overpayments received. It will also indicate your repayment rate and any taxable and non-taxable tuition assistance.
Example Of A T4E Slip
Source: Government of Canada
What’s The Difference Between A T4, A T4A And A T4E Slip?
- T4 Slip – A T4 slip identifies all earnings earned from an employer.
- T4A Slip – The T4A is a Statement of Pension, Retirement, Annuity and Other Income. The T4A lists income received from anywhere other than an employer.
- T4E Slip – The T4E slip is specifically for any EI or other EI-funded benefits that you received during the tax year.
Do you know what is line 10100 on your tax return?
Understanding Your T4E Slip
You’ll notice plenty of boxes on your T4E slip. Here’s what they mean:
| Box 7 | Repayment Rate – If you get a rate of 30% in this section, it means that you might be required to make a repayment for benefits received. |
| Box 14 | Total Benefits Paid – The amount here is entered on Line 11900 and includes amounts shown in Boxes 15, 17, 18, 33, and 36. |
| Box 15 | Regular and Other Benefits Paid – The amount shown here includes work-sharing benefits. It also includes income benefits under the Employment Insurance Act. Both these amounts are included in Box 14. |
| Box 17 | Employment Benefits and Support Measures Paid – This amount includes EI financial assistance paid out while you were a part of an employment program and is included in Box 14 |
| Box 18 | Tax Exempt Benefits – Applies to Indians under the Indian Act. It is included in box 14. |
| Box 20 | Taxable Tuition Assistance – This amount shows any taxable tuition assistance received and is included in Boxes 14, 17, or 33. |
| Box 21 | Non-taxable Tuition Assistance – This amount shows any non-taxable tuition assistance received and is also reported on Line 25600. |
| Box 23 | Quebec Income Tax Deducted – Residents of Quebec must this amount on the provincial tax returns. |
| Box 22 | Income Tax Deducted – This amount shows any tax withheld from your benefit payments and is reported on Line 43700. |
| Box 24 | Non-Resident Tax Deducted – The amount in this box is inputted on Line 43700. |
| Box 26 | Overpayment Recovered or Repaid – Any EI benefits amounts overpaid that must be repaid are displayed here and included in Box 30. |
| Box 27 | Reversal of Income Tax Deducted – This amount displays the reversal of tax deducted from a repaid amount and is included in Box 30. |
| Box 30 | Total Repayment – This amount represents the total of Boxes 26 and 27 and is reported on Line 23200. |
| Box 33 | Payments Out Of The Consolidated Revenue Fund – Amount is included in box 14. |
| Box 36 | Provincial Parental Insurance Plan Benefits – Amount is included in box 14. |
| Box 37 | EI Maternity And Parental Benefits Payment – Amount is included in box 14. |
How To Report Your T4E On Your Tax Return
If you received Employment Insurance, CERB, etc. the amount you received will be indicated in Box 14 on your T4E.
When you receive your T4E, review it carefully to ensure that all amounts are correct.
Take the following steps to report your T4E on your income tax return:
- Locate the total benefits paid amount in Box 14.
- If you have an amount in Box 18 on your T4E, subtract is from Box 14 and
- Input that amount on line 11900 of your tax return.
Note: You can file your taxes using a number of online tax software including Turbotax and Ufile.
Final Thoughts
It’s important to file your taxes on time in order to avoid any penalties and to collect any returns that may be coming to you. Make sure that you have every form you need — including your T4E if you collected EI to ensure your tax return has been filed appropriately.
