On most Canadians’ tax returns, line 10100 will be one of the few tax lines they will have.
Those who are filing their first tax return may find line 10100 difficult. This entry is often used to validate the CRA’s login information and is essential to the annual tax return. Taxpayers can locate line 10100 on page 3 of thier T1 General Form.
Line 10100 of taxpayer’s T4 slip contains the figures in Box# 14 of the slip. Taxpayer should fill in Box#14 with all of their employment income, including salaries, bonuses, and wages.
Many insurance plans and workplace payment plans are included on line 10400, called Other Employment Income.
The T4 slip does not include all employment income; line 10100 must be calculated accordingly. The T4 does NOT have the following:
Even though tax returns seem straight, in actuality, they are not. They may need to be more precise than what you were expecting. It is particularly true for first-time tax filers. Contact a professional income tax accountant when doing your taxes, and you’ll never get mistaken.