What's new for payroll
Guides T4032 and T4008
The October 1, 2015, version of Guide T4032, Payroll Deductions Tables, and Guide T4008, Payroll Deductions Supplementary Tables, is now available on the CRA website.
The October 1, 2015, version of Guide T4127, Payroll Deductions Formulas for Computer Programs, is now available on the CRA website.
Form PD7A(TM), Statement of Account for Current Source Deductions
We are now sending this form quarterly instead of monthly. For more information, go to PD7A(TM), Statement of Account for Current Source Deductions.
Some remittance threshold amounts were increased for amounts to be withheld after 2014. This may reduce how often you send us your source deductions and how you can make your remittance. For more information, go to Remittance thresholds for source deductions.
Tax deduction estimator
The tax deduction estimator (form TD1) is an application that helps employees fill in the federal and provincial or territorial Form TD1, Personal Tax Credits Return. They can simply answer the questions and the application will produce a pdf version of any TD1 forms they need. They can then save them or print them to give to their employer or pension provider.
Small Business Job Credit
Under proposed changes, the small business job credit is a two-year measure that will lower small businesses’ employment insurance (EI) premiums. If you are eligible, the CRA will automatically calculate your credit using the EI information from the T4 slips you filed with your 2015 and/or 2016 T4 information returns. For more information, go to Small Business Job Credit.
Emergency services volunteers
Exempt payments (up to $1,000) made by a government, a municipality, or a public authority to all emergency services volunteers will now have to be reported using code 87 in the “Other information” area of the T4 slip. For more information, see Emergency volunteers.
Transition from paper to electronic filing
Even if you do not have special software, you can file your return electronically. Our Web Forms application is available for free. All you need is access to the Internet and the application will walk you through the steps. For more information, go to Web Forms.
Filing by CD, DVD, USB key, or diskette
Starting in January 2015, you will have to send your XML files by Internet file transfer or through our Web Forms application. We will no longer accept CDs, DVDs, USB keys, or diskettes. For more information about filing information returns electronically, go to Filing Information Returns Electronically (T4/T5 and other types of returns).
Starting January 1, 2015, Form PD7A, Statement of Account for Current Source Deductions, will not be available through epost. To receive your statement electronically, you will need to register for online mail using the "Manage online mail" service at My Business Account, if you are a business owner; or at Represent a Client, if you are an authorized representative or employee. After you register for online mail, you will receive an email notification when your statement is available to view.
Pooled registered pension plans (PRPP)
If you make a contribution to your employee’s pooled registered pension plan, the contributions will not be a taxable benefit to your employee. For more information, see The Pooled Registered Pension Plans (PRPP) or Guide T4130, Employers' Guide - Taxable Benefits and Allowances.
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