T4 Code 78 — Fishers — gross income
Gross proceeds paid to a self-employed fisher from a catch — not employment income, not part of Box 14.
At a glance — Code 78
- Box name
- Fishers — gross income
- T1 line
- Line 14299 / 14300 via Form T2121
- Check against
- Your settlement statement from the buyer or plant, and whether Code 79 or Code 80 also appears on the same slip.
What Code 78 means
Code 78 reports the gross amount paid or payable to a self-employed fisher from the proceeds of a catch. It is used by a buyer or plant settling up with an independent boat owner, partner, or crew member — not by an employer paying wages.
A T4 carrying Code 78 always carries a second code alongside it: Code 79 (net partnership amount) if the fisher owns or shares in the boat, or Code 80 (shareperson amount) if the fisher is crew paid a share of the catch. Do not include the Code 78 amount in Box 14 — self-employed fishing income is never employment income.
The slip still exists because the payer withholds and remits EI premiums (and, in Quebec, PPIP premiums) on the fisher's behalf under the special fishing-income rules — Box 29 is coded 17 to mark it as a fishing-income T4. Income tax and CPP on the amount remain the fisher's own responsibility, reported on their T1.
Tax return implications
- Not employment income — the fisher reports it as self-employment fishing income on Form T2121 (Statement of Fishing Activities), flowing to Line 14299 (gross) and Line 14300 (net), not Line 10100.
- Expenses against the catch (fuel, bait, gear, crew shares) are deducted on T2121 against this gross figure, not claimed as employment expenses.
- EI premiums shown in Box 18 on the same slip are still creditable at Line 31200 even though the income itself is not employment income. A Quebec fisher also has QPIP/PPIP premiums, which are a separate item: Box 55, claimed at Line 31205.
FAQ
What is the difference between codes 78, 79 and 80?
Code 78 is always the gross proceeds from the catch. Code 79 (net partnership amount) applies if the fisher is a boat owner or partner (a "type 1" fisher); Code 80 (shareperson amount) applies if the fisher is crew paid a share of the catch (a "type 2" fisher). A fisher's T4 carries Code 78 plus exactly one of Code 79 or Code 80, never both.
Related T4 boxes
Box 14 — Employment income
Your total gross employment income for the year before any deductions — salary, wages, bonuses, commissions, taxable benefits and most other pay.
Box 16 — Employee's CPP contributions
The total CPP (Canada Pension Plan) contributions deducted from your pay during the year — base plus enhancement rate applied to pensionable earnings between the basic exemption and the YMPE.
Box 16A — Employee's second CPP contributions (CPP2)
CPP2 contributions on pensionable earnings between the YMPE and the YAMPE — introduced in 2024 for higher earners, at a flat rate specified in the CRA CPP enhancement schedule.
Box 17 — Employee's QPP contributions
Quebec Pension Plan contributions — the QPP equivalent of CPP Box 16, shown on T4 slips for Quebec residents.
Filing your return? Use the payroll deductions calculator to verify the amounts on your T4 match expected CPP, EI and income tax withholdings, and the income tax calculator to estimate your refund or balance owing.
Sources
T4 box definitions from CRA T4 employer guide. Rates and thresholds current for 2025; file your 2025 T1 by April 30, 2026 (self-employed June 15).
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