T4 - Box 67 adding extra income to my income

[Camelia]

Hi all,

I left my job at a hospital last year in August and now I received my forms and I noticed that I have an extra amount that it's added on top of my income.

box 67 - Non-eligible retiring allowances. Honestly I do not remember receiving this amount, and I do not have my last payment slips to check. Now  have to pay 4000 back, which it's insane.

Can somebody explain what box 67 stands for and why this amount was added on top of my income.

Thank you

 

[Geo123]

Hello Camelia,

You received a T4 slip with an amount in Box 66 and/or Box 67, following a dismissal and/or a retirement in the tax year. In order to account for this situation, please follow these steps:

1 - In the "Left side menu on the Interview tab", click on "T4 and employment income".
2 - On the right-hand side of the screen, select one of the first two options, either "T4 and RL-1 income earned in Quebec" or "T4 income (earned in any province except Quebec)" as per your situation, and enter the information found on your T4 slip in the appropriate boxes.
3 - At the center of the page, you will find the fields to complete for boxes 66 and 67. For "Box 66 - eligible retiring allowances (RL-1 Box O (RJ)" , enter in the field on your right the amount shown in Box 66 of your T4 slip.
4 - If an amount was transferred directly to an RRSP/PRPP, enter the amount transferred to an RRSP/PRPP in the field "Portion of Box 66 transferred to a RRSP/PRPP".
5 - However, if this amount was transferred within the first 60 day of 2022, also enter the amount in the section entitled "Portion of Box 66 transferred to an RRSP/PRPP (From the unused RRSP/PRPP contributions of January and February 2022)" .

6. If an amount is transferred directly to an RPP, enter that amount on the line "Portion of the box 66 transferred to an RPP".
7 - However, if no portion of the amount in Box 66 was transferred to an RRSP or RPP, either by you or by your employer, leave these two lines blank.
8 - On line "Box 67 - Non-eligible retiring allowances (RL-1 box O (RJ)", enter the amount shown in Box 67 of your T4 slip.

 

Note to residents of Quebec: If the amount in Box O of the RL-1 slip is different from the sum of amounts in Boxes 66 and 67 of the T4 slip, click on the "Maple leaf" icon to the right of the line to generate a field for another jurisdiction and enter the amount in Box O of RL-1

[Camelia]

Hello,

thank you so much for the repy. unfortunately it was box 67. From what i saw the amount it’s added on top of my income and you pay taxes. I’ve sent an email to my former employer to ask him when this amount was paid to me.
I don’t know if there coud be the sick days that i did not take before i’ve left and were paid.

it’s so confusing