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Income Tax Help.. relating to overseas exemption

BKells

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Just got back a few days ago. Time to do my taxes. I have my T4 from the CF.. I'm wondering what to tell my accountant about the taxes.

On my T4, where it says employment income (box 14), is that my employment income for the last year including the tax-free income I received overseas? Does it show the portion of my income which was tax-exempt in a different box?

If line 14 does include my tax-free income, if I enter that amount into the tax form will it not then make me pay tax on it?

Thanks for the help
 

Nfld Sapper

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there should be some other box on that form which indicates your tax-free amount.

EDITED TO ADD

I believe its shown in box 43 of your T4.
 

BKells

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box 43 being the amount of box 14 that is non-taxable, or is that a sum on top of box 14?

The other benefits.. hazard pay, FOA, and even TD claims... these are not shown on the T4 correct?
 

Nfld Sapper

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Don't know, hopefully one of the other guys just back from "over there" will be able to help you.

EDITED TO ADD

From the CRA site:

Line 244 - Canadian Forces personnel and police deduction

Enter the total of the amounts shown in box 43 of all your T4 slips.
 

Good2Golf

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The T4 Line 43 takes all taxable benefits into account.  You'll see on the T1 General (Page 3, Line 244, calc. of taxable income), Schedule 1 (line 406) and the provincial Form 428 where it adjusts your taxable income appropriately.  You don't have to do anything else. 

Note, you'll also have an amount in Box 43 of your T4 next year, since you will have had the Jan-Mar 2009 allowances as well.
 
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