Asked
Why is the net income on the T4 higher than the total on all pay stubs for the year?
Clint’s answer
If there is a number in box 40 and you subtract box 40 from box 14, does the number match the gross pay to date on the last paystub?
If so... taxable benefits have been added to the gross income on the T4. T4 will not have a net income number.
June 27, 2025
From Ask Clint: real questions from a Canadian public finance forum, answered by Clint Cole. Names are changed. This is general information, not advice for your situation, and rules and dollar figures may have changed since Clint answered. Terms