The CRA has updated its T4 slip information for employers, including new and revised specifications related to:
- Reporting of security options for the 2024 and 2025 tax years;
- Detailed requirements for each T4 slip box, including reporting rules and descriptions; and
- Updates to the “Other Information” section to ensure accurate and compliant reporting.
Employers should:
- Review the CRA’s updated T4 slip instructions, especially the new rules for security options reporting;
- Confirm payroll systems are updated to incorporate the 2024–2025 reporting changes; and
- Ensure year-end processes include validation of T4 data before submission.