On October 30 2023, the Canada Revenue Agency posted some changes to the RC4120 Employers' Guide which is the go to resource for filing the T4 Slip and Summary. Here is the direct link: https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4120.html
Updates or additions include:
Boxes 16A and 17A have been added. Soon to be used for reporting Employees’ second C/QPP contributions on T4 slips filed for calendar year 2024 and after.
Box 27A has been added. Soon to be used for reporting Employer's second C/QPP contributions on T4 slips filed for calendar year 2024 and after.
Box 45 has been added. Soon to be used for reporting Employer-offered dental benefits. Just a reminder not to use box 45 before January 2024 if you file electronically.
Web Access Code service will be enhanced with some new features.
T4 changes always pose some new challenges. Please ensure your software is calculating and populating these new boxes correctly.
Visit our website regularly to view the latest “News and Updates” on issues that impact you, your business and the industry.
Stagecoach Payroll Solutions – “Your Canadian Payroll Solution”
#T4s #yearend #payrollupdates #T4changes #payrollhelp #2023T4 #Stagecoachpayroll #canadianpayroll #canadiansmallbusiness #payrollsolutions #canadianbusiness