When entering your T4 information in Wealthsimple Tax, pay attention to box 28, which indicates exemptions from CPP, EI, and PPIP. Here's what you need to know:
Checking exemption boxes:
- Only check off CPP, EI, or PPIP in Wealthsimple Tax if the corresponding box is checked on your T4 slip
- Box 28 on your T4 indicates exemptions from these programs
What these exemptions mean:
- CPP: Canada Pension Plan
- EI: Employment Insurance
- PPIP: Provincial Parental Insurance Plan (applicable in Quebec)
Important notes:
- Checking a box means you are exempt from that program
- Do not check these boxes unless they are checked on your official T4 slip
- Being exempt means you didn't contribute to that program for this employment
Steps to enter T4 information correctly:
- Locate box 28 on your T4 slip
- In your Wealthsimple Tax profile, find the corresponding T4 entry in the Employment Income section
- Check off only the boxes that are checked on your physical T4 slip
- Double-check to ensure accuracy
Remember:
- Most employees are not exempt from these programs
- If you're unsure about your exemption status, consult your employer or payroll department
If you need assistance entering T4 information in Wealthsimple Tax, please contact Wealthsimple support. For questions about your specific exemption status or T4 details, consult with your employer.
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