Corporations: T4 and T5 slips
The slips your corporation files when it pays you a salary or dividends, when they are due, and the reminders on Tax time.
Slips cover the calendar year, whatever your corporation's fiscal year end is.
T4: salary
If your corporation paid you (or anyone) a salary last calendar year, it files a T4 slip for each person and a T4 summary. They are due by the last day of February. Give each person their copy by then too.
The slip shows employment income (box 14) and what was held back: CPP (boxes 16 and 16A), EI (box 18) and income tax (box 22). Take these from your payroll records.
During the year, the corporation sends what it held back, plus its own share of CPP and EI, to CRA, usually by the 15th of the next month.
T5: dividends
If your corporation paid dividends last calendar year, it files a T5 slip for each shareholder and a T5 summary, also by the last day of February.
For non-eligible dividends, the usual kind from small business income, the slip shows the actual amount (box 10), the taxable amount grossed up by 15% (box 11) and the federal dividend tax credit (box 12). Eligible dividends use different boxes: ask your accountant.
In CollabNorth
When you record a salary or a dividend under Pay yourself, Tax time reminds you which slips are due and when, with the year's totals: gross salary and what was held back for the T4, and boxes 10, 11 and 12 for the T5. The dates are also in your CRA dates.
CollabNorth doesn't run payroll or file slips. A payroll service or your accountant can file them, or you can use CRA's free online forms for a small number of slips.
This is general information to help you keep your own records. It is not tax or legal advice.
Based on: CRA guide RC4120, Filing the T4 Slip and Summary and CRA guide T4015, T5 Guide
Last checked: 2026-10-13