T4A

The T4A, Statement of Pension, Retirement, Annuity, and Other Income, reports a wide range of payments that are not employment income on a T4. Payers include pension plans, insurers, educational institutions, businesses that pay fees to individuals, and government programs.

KEY BOXES

• Box 016, Pension or superannuation: reported on line 11500. Eligible for the pension income amount and pension income splitting at any age if it is a life annuity from a registered pension plan.

• Box 018, Lump-sum payments: from pension plans or DPSPs, reported on line 13000; may be transferable to an RRSP.

• Box 020, Self-employed commissions: reported as business income on Form T2125.

• Box 022, Income tax deducted: claimed on line 43700.

• Box 024, Annuities: reported on line 11500 or line 13000 depending on the type.

• Box 028, Other income: reported on line 13000.

• Box 048, Fees for services: payments to independent contractors, reported as business or professional income.

• Box 105, Scholarships, bursaries, fellowships, artists' project grants and prizes: exempt for full-time students eligible for the education amount; otherwise reported on line 13010 after the $500 exemption.

• Box 107, Payments from a wage loss replacement plan.

• Box 119, Premiums paid to a group term life insurance plan.

• Box 135, Recipient-paid premiums for private health services plans: can be claimed as medical expenses.

• Box 197 to 205: repayments and amounts related to federal pandemic benefits.

• Box 210, Canada Workers Benefit advance payments.

WHO GETS A T4A

• Retirees receiving a workplace pension.

• Students receiving scholarships or bursaries from a school.

• Self-employed people paid commissions or fees by a business (issuers must provide one when total fees exceed $500).

• People receiving death benefits, retiring allowances paid by someone other than an employer, or RESP educational assistance payments (box 042).

• Recipients of research grants.

SPECIAL POINTS

• RESP educational assistance payments (box 042) are taxed in the student's hands, usually at little or no tax because of the student's low income and tuition credits.

• A death benefit paid to a survivor (box 106) is tax-free up to $10,000.