If you received Old Age Security during the year, a T4A(OAS) slip arrives to tell you what was paid, what was held back, and what tax was already deducted.
You do not prepare it. You receive it once a year and use the boxes when you file.
What it reports
The T4A(OAS), Statement of Old Age Security, reports the Old Age Security pension paid to you in the year, any supplements, any amount recovered because of an earlier overpayment, and the income tax deducted.
Who sends it and when
Service Canada, through the Old Age Security program. T4A(OAS) tax slips are issued once a year and are not required to be sent until the end of February.
If you need a copy of your slip, you can request one from Service Canada. Once the slip has been made available to the Canada Revenue Agency (CRA), it can also be viewed securely through CRA My Account.
The boxes that matter
- Box 18 – Taxable pension paid. Enter this amount on line 11300 of your return.
- Box 19 – Gross pension paid. The gross amount of Old Age Security pension you received in the year. It is there for information; box 18 is what goes on line 11300.
- Box 20 – Overpayment recovered. The amount recovered from the gross Old Age Security pension in box 19 because of an overpayment you received in a previous period. Enter this amount on line 23200.
- Box 21 – Net supplements paid. The net amount of any allowance, allowance for the survivor, or guaranteed income supplement you received in the year. Enter this amount on line 14600. If the amount is negative, enter "0". You may also be able to deduct it on line 25000.
- Box 22 – Income tax deducted. Enter this amount on line 43700.
- Box 23 – Quebec income tax deducted. Report this amount on your Quebec provincial return. If you were not a resident of Quebec on December 31, enter this amount on line 43700 of your federal return instead.
Box 21 is the one worth slowing down for: the supplement is entered as income on line 14600 and then may also be deductible on line 25000, so the same amount appears twice on the return for different reasons.
If a slip is late or looks wrong
The slips are not required to be sent until the end of February, so a slip that has not arrived in January is not yet late. If you need a copy, Service Canada can provide one, and the slip can also be viewed through CRA My Account once the CRA has it.
What to keep
Keep the slip. It supports the pension you report, the supplement you report and then may deduct, and the tax already withheld in your name.
If an overpayment was recovered during the year, keep the slip showing box 20: that box is the only place the recovery appears.
Dossier stores the slip and identifies it as a T4A(OAS), so it is with the rest of your year's paper. It does not read the amounts off it; the figures come from the boxes in front of you when you file.
Official CRA sources
The CRA's T4A(OAS) page lists no related forms or publications, so this article cites none.
Source: Canada Revenue Agency (canada.ca). Not tax advice.