There’s no penalty from CRA the first time you miss a slip on your tax return. If, however, you miss two slips over a certain period CRA can assess a hefty fine.
Be sure to open your mail during this time in order to not miss any slips; they could cost you down the road!
The schedule of delivery is as follows:
T4/T4A/T4RSP/T4A(OAS)/T4A(P) are all issued by February 28, 2015
T5’s are issued by February 28, 2015
T3’s are issued by March 31, 2015
T5013’s are issued by March 31, 2015
Tax envelopes are available at RHN; please stop by and take one or request one by mail. These handy envelopes enable you to put all of your tax information in one trusted place, allowing you to conveniently bring it in once the slips have been received.
When we prepared your tax return in 2013, you would have received a “Slip Summary” which listed all of the slips used to prepare your return. You should compare the slips you receive for 2014 list to make sure you have received them all.
For more information, please refer to http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/slps/menu-eng.html
If you have any further questions, please contact RHN to speak with one of our professionals today.
The information presented is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly cannot be regarded as legal or tax advice. Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.
This post has been prepared for general information purposes. It is not advice. The information presented may not fit your unique situation, please consult one of our trusted business advisors at RHN CPA for further clarification and interpretation of your particular circumstances.