If Wealthsimple Tax indicates that boxes 24, 26, or 29 on your T4 are mandatory, but they're blank on your slip, here's what you need to know:
Important: This applies only if you have an amount in boxes 78, 79, 80, 81, 82, or 83 of your T4.
Why these boxes are important:
- Box 29 (Employment code): Used for CPP calculation purposes
- Box 24 (EI insurable earnings): Related to EI premiums in box 18
- Box 26 (CPP/QPP pensionable earnings): Related to CPP/QPP premiums in box 16 or 17
What to do if these boxes are blank on your T4:
- Do not enter any information that isn't on your official T4 slip
- Contact your employer or slip issuer for clarification
- Ask them to issue a corrected T4 slip if necessary
Remember:
- These boxes are required by the CRA to ensure accurate CPP and EI calculations
- Entering this information helps avoid potential audits or reviews of your return
- Only report information that appears on your official T4 slip
If you're unsure about how to report your T4 information or have concerns about your slip's accuracy, consider consulting with a tax expert.
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