You Should Pay Attention to box 14 on your T4

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Reflection:
This article is about Box 14 in T4 slip. Box 14 in T4 slip is known as "Employment Income". You should always check to make sure that the amount in the boxes are correct. In this article there is also a tax case included about this concern about a worker who started working on Dec 4, 2006. The worker was not enrolled in payroll system. This is because the worker began working at the end of the year. The company did give the worker 2 cheques. The cheques were marked "salary advance". One cheque was for $900 whereas the other cheque was for $700. The worker cashed these cheques. The concern of this case was should the money the worker achieved in 2006 be included in 2007 income or 2006. The worker did received paycheques with the formal payroll in 2007. The money that the worker got during 2006 was now decreased from the net pay. The case ended by the judge saying that money from 2006 should not have been taxed in 2007. It should've been taxed in 2006.

Connection:
In Chapter 16, we also learn about T4 slips. It is mentioned that an employee must fill this out in order to get the summary of the employee's deductions and earnings in the textbook and this article. Accoirding to me, it shows how much a person makes during a whole year. In chapter 16 we learn about Payrolls as well. Because that the worker wasn't enrolled in formal payroll system, the amount of money that was received was deducted from the net payin this article. The figure net pay is calculated by subtracting gross pay to deductions.

Summary:
I also agree with the judge's decision that the money received during 2006 should have been taxed in 2006, not in 2007. The worker should have've been enrolled in formal payroll system when they began working. It is correct that a person should always check the figures in T4 slip to make sure if it is correct or not.