New Reporting Requirements: T4 Slips

The new Employer's guide to filing the T4Slip was released on October 7 and contains two items of note for bookkeepers and business owners getting ready to complete T4 slips for 2011:

Upcoming CPP reform

The CPP changes for working beneficiaries announced May 25, 2009 will be implemented in January 2012. In preparation for the upcoming changes, starting in January 2012 (for the 2011 taxation year), box 26, "CPP/QPP pensionable earningsî will have to be completed on the T4 slip at all times.

Reporting change for insurable earnings

Starting in January 2012 (for the 2011 taxation year), box 24, "EI insurable earningsî will have to be completed on the T4 slip at all times.