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Certainly! Let's prepare Terri's T4 slip for 2024 using the provided information. Here's how to complete each required box: Step 1 - Box 14 (Employment
Certainly! Let's prepare Terri's T4 slip for 2024 using the provided information. Here's how to complete each required box: Step 1 - Box 14 (Employment Income): Add up Regular wages, Wage continuance during workers' compensation leave, Overtime, Vacation pay, Taxable meal allowance, Taxable benefit group term life insurance, and Taxable benefit AD&D insurance. $70,350.00+$16,750.00+$7,914.38+$5,700.86+$840.00+$128.64+$101.30=$101,785.18 Enter $101,785.18 in Box 14. Step 2 - Box 16 (CPP Contributions): Enter the total CPP contributions. Enter $3,867.50 in Box 16. Step 3 - Box 16a (Employee's CPP/QPP pensionable earnings): Enter the Pensionable earnings. Enter $73,200.00 in Box 16a. Step 4 - Box 18 (EI Premiums): Enter the total EI premiums. Enter $1,049.12 in Box 18. Step 5 - Box 22 (Income Tax Deducted): Enter the total Income tax deducted. Enter $20,841.78 in Box 22. Step 6 - Box 24 (EI Insurable Earnings): Enter the Insurable earnings. Enter $63,200.00 in Box 24. Step 7 - Box 26 (CPP/QPP Pensionable Earnings): Enter the Pensionable earnings again. Enter $73,200.00 in Box 26. Step 8 - Box 44 (Union Dues): Enter the total Union dues paid. Enter $2,076.90 in Box 44. Step 9 - Box 45 (Employee's PPIP premiums): Since there is no mention of PPIP premiums, you would typically leave this blank or enter $0.00 if required. Step 10 - Enter the code for other taxable benefits and allowances: The code for Employer-offered dental benefits is provided as 3. Step 11 - Enter the correct a
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