Canada Revenue Agency (CRA) recently released the 2024 T4A (Statement of Pension, Retirement, Annuity, and Other Income). The description for Box 134 has been updated. Box 134 will now be used to report First Home Savings Account payments to qualified donees, in addition to Tax-Free Savings Account (TFSA) payments. Previously, Box 134 only reported TFSA payments. The description for Box 134 has been moved to a more prominent location and bolded to draw attention to this change. Box 205 (One-time payment for older seniors) has also been removed from the form.
