Why does Tax Chopper not have T4 slip box 40?

The short answer is, the number in T4 box 40 can't be used to do anything for a tax program.

We could have added a dummy box 40 to our T4 page like some other services. This way, we wouldn't need to spend time to explain and you would happily think TaxChopper has handled everything for you: it seems like a win-win solution.

But that's not the case, because you might unwittingly miss your deserved deductions in some cases.

Employers have to put many kinds of benefits into your T4 slip box 40. While many of them are taxable in your hands, in some other cases, you are eligible to claim something.

For example, the benefit included in box 40 could be a reimbursement of your vehicle and/or cell phone use for your employer's business. In this case, you can claim employment expenses using T777. It could also be an employer paid allowance for you to move to a closer home. In this case, you can claim moving expenses using T1-M, etc. You have to claim the deductions using different tax forms and the actual claim usually is different from your T4 slip box 40.

For a list of possible benefits, their explanations and possible claims, click 'help' at T4 slip page.

We don't have several other boxes for similar reasons, for example, T3 box 42, T4RIF box 24 etc. For details, you can check out our help text at those pages.