NR4 slips are used to report income paid and the corresponding income taxes withheld by the issuer to non-residents of Canada (known as the non-residents)¹ Income means²:
Pensions and annuities,
Interest, dividends, and trust income,
Non-residents are required to pay a maximum Part XIII tax of 25% on taxable amounts.
The rate and what is a taxable amount can differ depending on Canada’s income tax treaty with the non-resident’s country. The payer of the income is responsible for withholding and remitting Part XIII tax on behalf of the non-residents. The non-resident must file a Canadian tax return in order to claim a refund of the amounts or address the tax through foreign tax credits on domestic tax filings.
NR4 slips must be prepared and sent to recipients by end of March for the previous calendar year. The issuer must prepare and file a NR4 Summary to the taxing authority. After preparing hundreds of NR4 slips, we discovered a better way and we will share it with you!
The CPL advantage comes in streamlining documentation, facilitating the data import
into CRA approved tax software and providing guidance as to how to complete the form and slips accurately.
¹ If you have made payments to a resident of Canada, you will likely need to file a T5 slips and Summary. But don’t worry – we can help with that process also.
² This list is not exhaustive and if you have questions, please contact your tax advisor.
- The data input schedule are laid out to on a non-resident basis and summarized for the issuer. This make the review process simpler – check the totals on the NR4 Import Template to the software forms.
- Keeps the flexibility of a spreadsheet – information can be copied from the template for further work or distribution.
- Non-resident data files are exported into a separate CSV file which may be imported into the tax preparation software as data for the actual slips eliminating a second manual entry.
- We provide a user manual which walks you through how to calculate the correct input values for the template.
- The Issuer tab mimics and aggregates the non-residents’ data into a NR4 Summary.
- Print Button for printing the summary report.
- The Non-resident tab is your data entry section.
- Add and Delete button permits you to add and delete non-residents. This maintains the functionality and formatting of the template.
- Flexibility to customize your payments and withholding tax requirements in the worksheet to ensure remittances are calculated correctly throughout the year.
- Export button creates a separate CSV file in the same network directory which may be used to import the slip information directly into tax preparation software.
- We provide you with the pre-formatted linking file to ensure the CSV file imports correctly (the tax preparation software requires two files).
Each template including user manual is $550.00 plus applicable taxes.