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Figures: 2026 tax year

Tax already taken off your pay

Your employer sends tax to the CRA out of every pay cheque. It appears in box 22 of your T4, and your return settles the difference either way.

Updated 24 July 2026 · 1 min read

You have probably already paid most of your tax for 2026. Your employer worked out an estimate every pay day and sent it to the CRA in your name.

Where to find it

SlipBoxReturn line
T4Box 22, income tax deductedLine 43700

What your return actually does

Your return works out the tax you owe for the whole year. Then it subtracts what has already been sent in. One of two things follows.

  • The withheld amount is larger, so the difference comes back to you as a refund.
  • The withheld amount is smaller, so you owe the difference.

A refund is not a reward and a balance owing is not a penalty. Both mean the estimate during the year was slightly off.

Why the estimate is often off

Your employer only sees what it pays you. It cannot see a second job, a spouse's income, or a credit you became eligible for in October. Each of those changes the true figure.

Changing it for next year

Give your employer a new Form TD1. Do this if you had a large refund and would rather have the money during the year, or if you owed a large balance and would rather not.

CPP in T4 boxes 16 and 16A and EI in box 18 are separate from income tax withholding. They are not part of this settlement.

Sources

Every figure and every procedure on this page was checked against the pages below on the date shown. The agencies revise these pages, so confirm anything you are about to act on.

  1. Line 43700 – Total income tax deducted (opens in a new tab)canada.ca · checked 24 July 2026

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This article explains a form and a process. It is general information, not tax advice about your own situation, and Hypertax does not send your return to the CRA — you print it and mail it. See the not-tax-advice notice and the rest of the help centre.