What’s the difference between a T4A, T4A(P) and a T4A (OAS) slip?

Regardless as to how long you’ve been doing your own taxes, as your personal situation begins to change, you might start receiving slips you’ve never seen or heard of before. Maybe you’ve begun to draw income from your pension, or maybe you’ve started to collect old age security. Whatever the reason, you’ll receive an information slip containing the information you’ll need to report on your tax return.

While they all share similar names, the following slips are used to report income and benefits from widely different sources:

 

T4A: Pension, retirement, annuity and other income

A T4A slip can report income from many different sources including self-employed commissions and RESP educational assistance payments. As a student, your T4A slip will likely report the scholarship or bursary income you received while you were enrolled at an educational institution. Generally, you’ll only receive a T4A slip from the payer of these income sources if the total of the payments was more than $500 in the year or if income tax was deducted from the payments.

Tax tip: If you received more than one T4A slip, be sure to report each one separately on your return.

 

T4A(P): Statement of Canada Pension Plan Benefits

You’ll receive a T4A(P): Statement of Canada Pension Plan Benefits slip if, during the year, you received benefits from either the Canada Pension Plan (CPP) or the Québec Pension Plan (QPP). This slip shows you the amount and type of the benefit(s) you received, as well as the amount of income tax deducted.

Note: If you’re a resident of Québec and you received benefits under the Québec Pension Plan (QPP), you’ll also receive a Relevé 2: Retirement and annuity income (RL-2) slip. If that’s the case, you’ll need to enter the information from both your T4A(P) slip and your RL-2 slip into the tax software.

 

T4A(OAS): Statement of Old Age Security

If you received a pension from the Old Age Security (OAS) program during the year, you’ll receive the T4A(OAS) slip. This slip shows you how much you received from Employment and Social Development Canada and the income tax deducted.  

If you’re between the ages of 60 and 64, the T4A(OAS) will show a spousal amount, if your spouse is receiving the old age security pension and they’re eligible for the guaranteed income supplement (GIS).  If you’re a widow between the ages of 60 and 64 and have low income, your survivor allowance will also be shown on this slip. Both amounts are based on your income.

Since the old age security pension is taxable income, you’ll need to enter the amounts from your T4A(OAS) slip into your federal return to determine your net income. If you’re a Québec resident, H&R Block’s tax software will automatically transfer the information you enter on the T4A(OAS) page to your Québec return.

 

Where do I claim this? 

Follow these steps in H&R Block’s tax software to file your 2016 taxes:

  1. Under the QUICK ENTRY tab, click the QUICK SLIP icon. You will find yourself here:



  2. Enter T4A, T4A(P), or T4A(OAS) into the search field. Click the highlighted selection or press Enter to continue.

  3. When you arrive at the page for your T4A, T4A(P), or T4A(OAS), enter your information into the tax software.