In order to facilitate the accurate preparation of your 2024 T4 information returns, we are pleased to enclose a summary of significant taxable benefits that may apply to your employees.
New for 2024 – T4 information returns filed after December 31, 2024, if you are submitting more than 5 information returns (slips), you are required to file electronically. If you do not file electronically when required to do so, the Canada Revenue Agency “CRA” will assess a penalty of $125 per T4 slip.
If your T4 information return is being prepared by Lipton LLP, it will be electronically filed whenever possible.
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If you have any questions concerning the preparation of 2024 T4 information returns and slips, please contact your Lipton advisor.