Fishing income is reported on the T4 slip.
Fishing income (for example, proceeds of the catch paid to a self-employed fisher) and employment income (for example, plant income) can be reported on the same T4 slip or on separate T4 slips.
The instructions that follow are for fishing income paid to a self-employed fisher. For instructions on reporting employment income that you paid to an employee, see Filling out the T4 slip. For instructions on reporting tax-exempt fishing income that you paid to a self-employed Indian, go to Indians – Tax-exempt self-employment income.
Do not use code 78, 79, or 80 to report employment income. Use box 14.
Reporting paid or payable self-employed fisher income depends on whether you are using the cash method or accrual method of accounting. For an explanation of these methods, see Chapter 1 of Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income.
For more information on how to calculate the insurable earnings of a fisher if you are a designated employer, see Guide T4005, Fishers and Employment Insurance. For more information about calculating the fishing income for a sole proprietor, see Guide T4002, Self-employed Business, Professional, Commission, Farming, and Fishing Income.
Enter your operating or trade name.
Employee's name and address
Enter the fisher's name and address, including the province or territory and postal code.
Box 10 – Province of employment
Enter the provincial or territorial abbreviation.
Box 12 – Social insurance number
Enter the SIN, as provided by the fisher.
Box 14 – Employment income
Leave blank. Fishing income is reported using codes 78, 79, and 80. See the Other information area below.
Box 18 – Employee's EI premiums
Enter the EI premiums you remitted on behalf of the self-employed fisher on their gross income.
Box 24 – EI insurable earnings
Enter the amount of the fisher's insurable earnings on which you calculated the EI premiums, up to a maximum of $54,200 for 2020. Enter "0" if there are no insurable earnings.
Box 28 – Exempt (CPP/QPP, EI, and PPIP)
Enter an "X" or a check mark under CPP/QPP (fisher earnings are not pensionable).
Box 29 – Employment code
Enter code 17.
Box 55 – Employee's PPIP premiums
Enter the PPIP premiums you deducted from gross income of fishers working in Quebec.
Box 56 – PPIP insurable earnings
For fishers working in Quebec, enter the total amount used to calculate the fisher's PPIP premiums, up to a maximum of $78,500 for 2020.
Code 78 – Fishers – Gross income
Enter the amount paid or payable to the fisher from the proceeds of the catch. Do not include this amount in box 14. In addition, report either the net partnership or owner amount using code 79 or the shareperson amount using code 80.
This income does not include amounts paid for a catch or part of a catch made by other persons who were not members of a crew. For more information, see "Calculating the insurable earnings of a fisher" in Guide T4005, Fishers and Employment Insurance.
Code 79 – Fishers – Net partnership amount
Enter the amount that is the product of the gross income (or gross value of the catch) reported under code 78, minus the 25% prescribed amount and the total amount paid to the shareperson reported under code 80, multiplied by your partnership agreement allocation. See Example 5 in Guide T4005, Fishers and Employment Insurance. Include this amount in box 24 (and in box 56 for fishers in Quebec). Do not include this amount in box 14.
Code 80 – Fishers – Shareperson amount
Enter the amount paid or payable to the fisher from the proceeds of a catch based on the sharing arrangement agreed to before embarking on the fishing trip. Include this amount in box 24 (in box 56 for fishers in Quebec) and with code 78. Do not include this amount in box 14.
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