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How to prepare Canada T4 Summary 2023-2024 Form

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About Canada T4 Summary 2024 Form

The Canada T4 Summary 2024 Form is a document that summarizes the information from all T4 slips issued by an employer to their employees in Canada during the 2024 fiscal year. This form includes details such as the employee's name, social insurance number, employment income, and deductions. It is submitted to the Canada Revenue Agency (CRA) by the employer and is used to report the total amount of employment income, statutory deductions, and employer contributions to the CRA. Employers who have issued T4 slips to their employees must file a T4 Summary with the CRA before the last day of February following the end of the tax year. This form is necessary for employers to be compliant with Canadian tax laws. Additionally, employees may need the information from the T4 Summary to complete their annual income tax returns.

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