Reporting the benefit

If an employee receives a loan or incurs a debt because of employment, report the benefit in box 14, "Employment income," and in the "Other information" area under code 36 at the bottom of the employee's T4 slip. For more information, see T4 - Information for employers.

If a person or partnership that was a shareholder (or was related to a shareholder) receives a loan or incurs a debt, you generally have to report the benefit on a T4A slip. Enter the amount under code 117 "Loan benefits," in the "Other information" area at the bottom of the T4A slip. For more information, see T4A.

Date modified:

2016-12-15