Hi I am trying to create T4 directly from my business account but I don't see the options like earlier year. Has it been changed? Could you please have a look at the current business account and suggest.
Yup! When you travel to the payroll page, you should see a section for "Balances and payments"... it's not in that section. But below that section is another section that has tabs "Returns" "Remittances" "Pier" etc. Under the return tab, which is the default, there are three buttons at the bottom: "File a Return" is one of them and is highlighted in blue. Are you able to see that? Great question, and pinning for others. Thanks!
Hi Naomi, thank you so much for this video! It was so helpful and I filed T4 slips first time in my life for company with over 40 employees. I had many items (DPSP, RRSP, Group life Insurance, retyring allowances and etc.). I was so nervous to figure them out what box those one will go and after watching your video especially when you said "that's it we're done", that encourage me to stay calm and to complete my work. I was so happy to see when system processed my work and I said to myself "that's it you did it!!" Very supportive. All what you said was clearly understandable. Much appreciated for your work Naomi!!
Wow!! That would have taken such a long time! Especially figuring out all the different boxes needed! Way to go!!! I didn't cover the many extra item types in the Video! Your story is a testament to others that; everything is figureoutable if you take your time! You are on FIRE! 🔥🔥🔥🙌Are you going to switch to a payroll program for 2022? Wagepoint is a favorite of mine... and they'll send the T4s off FOR you next year! For those reading this comment, the CRA Website for looking up where to put the other different box types is at the bottom of this CRA Webpage: www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/completing-filing-information-returns/t4-information-employers/t4-slip/filling-t4-slip.html
This video is magnificent! Clear audio and video, coherent, perfect flow, relevant explanations ... just spectacular. You saved me much time, searching, and possible errors. Thank you sincerely!
Actually, I do have to admit these past 12 months have been a challenge and being my first time I was not able to submit the T4 for my nanny until today (Mar 20, 2021) for 2020 tax year. I was late. =( How strict is the CRA when it comes to this? I was going to call during business hours to ask as well.
Hi Andy! Thanks for the kind words! I'm so glad you found it helpful! Regarding your late filing, you'll get dinged a bit of money. $10/day late, so $200 bucks. You are not the first, nor will you be the last, to file late. Life happens! www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/penalties-interest-other-consequences/payroll-penalties/penalty-failure-file-information-return-date.html
Thank you Naomi for the excellent video. It was perfect for me and I filed my first T4 with your help Also, your replies to others comments, clarified some of the same questions I was uncertain about so I appreciate that too Very well done and totally helpful
Hi Leesa! Yes, I've seen that now for the summary web page, but the actual T4s should have all 9 digits showing when you download the PDF of the T4s. (I haven't processed any for 2022 yet myself, but I remember the stars in a memory from last year).
@@leesachittle171 On the employee copy? Sorry, I don't have an answer for you. I'll have to see what happens when I do 2022's. For a quicker answer, call CRA at 1 (800) 959-5525.
Hi, I called CRA this morning and she said that's how they are now for privacy, but now the employee cannot verify that the SIN on their T4 is correct. Some things they do are ridicules. If you hear anything different, please shoot me a message if you don't mind. Thanks
Hi Naomi, thank you for amazing video. It is so helpful. I have a question one of my employee is my mother in law. Is she expect exempt from Ei contribution ? Thank you so much !
I do not have a definitive answer on that, it's not something I've come across before. But it's a very good question. You can give EI Rulings a call at 1 (866) 670-6402, they should be able to give you a quick answer on that.
No, I don’t have a video on how to fill in the ROE. But I just tried to find one, and I think I really need to make one! What I can say though, is that you will need to first register for ROE Web. www.canada.ca/en/employment-social-development/programs/ei/ei-list/ei-roe/register-roe.html It’s not CRA, it’s a branch under Service Canada. So, you need to create a log in especially for it. There are two ways; on with a Sign In partner (using a bank log-in to confirm your identity), and the other way is by creating a GCKey. Once you’ve created your account and signed into ROEWeb, you set up your professional profile. THEN you add the profile of the organization (business) issuing the ROE. This second step can take time to activate, as an authorization code is mailed to the business address. If you have any issues with creating your ROEWeb account or need any other assistance with ROEs, you can call Service Canada’s Employer Help Centre at 1 (800) 367-5693. Hope this helps! Thanks so much again, and have a Wonderful Week! Naomi
Yup, this year there are new boxes on the T4s. They are required for employers to fill out so CRA can double check Canadian's CERB claims. Here's the info on the new boxes in 2020: www.canada.ca/en/revenue-agency/campaigns/covid-19-update/support-employers-cra-covid-19.html#howto Also, as an employer who applied for either the CEWS and/or the TWS, you will also need to 'file' the TWS. Either fill out form PD27, or file it online. Here's CRAs info on the PD27 www.canada.ca/en/revenue-agency/services/subsidy/temporary-wage-subsidy/tws-reporting.html and here's my video on how to file it online ua-cam.com/video/pDn3zIgtlcg/v-deo.html&ab_channel=TheHappyBookkeepingCoach
Thank you sooo much, Naomi! You are wonderful and I am so happy to have found you on UA-cam! So much great information and very well explained. Quick question: we miscalculated and have a balance owing for underpaying CPP and income tax, how would you pay it? The final source deductions for Dec have been sent already...so how do we make up the balance?
Thanks so much for the comment! I'm so glad you found this video helpful! There are many ways to pay the balance due. If you use online banking, choose the business tax option for the payroll account (ending RP0001) and choose the type of payment as "Balance Due" for period ending Dec 2022. Or if you use CRA My Payment, choose "Balance Due" as the type of payroll source deductions payment, period end 12-31-2022. And there are options to choose from too if you log into your CRA My business account. The important thing is to make sure you are able to note that the payment is for Period Ending Dec 31st 2022 so that it goes to the correct year.
@@NaomiWilkins Wow, thanks indeed for a quick reply. It was very helpful. I have another question: I am both woner and employee of my company. So, I pay to myself, my deductions are only Income Taxes and CPP. For Income tax, I see there is just one slot, so, I guess, I need not fill out seprately for federal tax and provincial tax deductions. But, for CPP, of course, I have two slots one each for employer's and employee's. An early reply will be highly appreciated.
@@bhuwanprasad909 Hi! Just to confirm, your business is incorporated, correct? So, you are a shareholder in the corporation that is also on the payroll? (Asking, because a self employed person, that is, a non-incorporated business, cannot be their own employee). Though, in answer to your question, when you fill in the slots on each T4 in webforms, you are only putting in the DEDUCTED amounts. That is, just the employee portion. At the end, it will calculate what should have been contributed as 2 x the CPP deducted and 2.4 x the EI deducted. The T4s for the employees does not show employer expenses, just the Tax, CPP, and EI that was deducted from their paycheques.
@@NaomiWilkins Thanks again. The company is incorporated, yes. Just to give an example: Gross pay = $50,000, Tax deduction = $13,454.55, CPP- Total = 2,548.45 (which is both employee's and employer's). So, basically, we have to fill out these numbers in T4.
Naomi, thank you for this. I forgot to save the file for future import and I’m wondering how I go back in to do that last step. I already submitted the web form for this year so my choices are do a new form or an amended form but really I just want to access the one I already submitted. I already submit it, so that I can save the file for future import. I also wonder if you know how I can just extract one T4 from the series to email a PDF for one employee?
Thanks for your comment! I am not aware of a way to get the file for future import, but I am familiar with the regret of wishing I had downloaded it before finishing! To extract one page of the PDF (without a PDF editor) you can choose the "Print to PDF" option from your printer list, and only print the page you are extracting. Hope this helps!
There are two ways to get to Webforms. If you use the WAC code without logging into the CRA My Business Account, Web forms looks exactly the same. Both ways look the same as after you click "File a return with Web Forms" at 11:55 in the video :) Hope this helps!
Hi Naomi, your video was extremely helpful. I used the web forms option and unfortunately I made an error when submitting and need to file an ammendment and submit a document explaining the error. Is there an area at the end of the ammendment process that lets me attach that letter? Or do I need to submit that in a different area?
I'm glad you found the video helpful. I haven't amended for a while now, so I don't remember the process. I do not believe there is a place to upload a letter, but I do think there is a place to comment with explanation maybe? Sorry I cannot be of more help. I'm also a bit late in responding to your comment, so you likely have figured it out already! I hope it went well for you!
@@NaomiWilkins yes, thank you. I just needed to dig more lol. Turns out the CRA website has a spot to respond directly to their request for information. It simply isn't user friendly is all lol
Thank you so much for your video, it has helped me so much!! I have a couple of questions for you, number one is on the Summary page it asks for a SIN # of proprietor, what if it is a charity and there is no owner but only board members? What do I put in for that? Also, at the end after we submit the T4 slips and the Summary, how do we save it on our computer? Can we send an email to our employee's with their T4 slips or is it only by mail that we send their T4's. I only have 4 employees.
Hi! You can leave the SIN# of the Proprietor blank. Also, at the end be sure to click the "Download PDF version of your return" (start at 23:46 in video). I do not suggest emailing the T4s, as email isn't the safest to put in SIN# info. People do it... but, it's not suggested as there are risks involved with email. Safer to Snail Mail them!
Hi Naomi! Thank you so much for that informative video. I just got a little bit confused when you started talking about the Max EI insurable earnings. I just incorporated my own company and will only be paying myself a salary. Do I need to do anything differently in terms of the EI calculations? I still need to remit employee and employer portions. For the box for max insurable earnings, do I just put zero here? How does this change, if I am the sole owner and employee of the company? Thank you!
Hi Leanne! Moving forward, as an employee of the corporation that you are the only shareholder, you are correct, it is a "non-arms length relationship" and so your wages would not be insurable. Moving forward, you would not deduct employee EI off of your paycheques (and therefore there is also no employer portion to contribute). There is a checkbox on payroll calculators and payroll apps that you check off "EI Exempt" that enables the calculation to not deduct EI. That same checkbox is on the T4 when you file it next year, you can see it at 18:20 on the video above. If you check off "EI exempt," CRA Webforms will expect the EI Insurable Earnings to be empty, (I think it even gives an error if you put 0.00 in there! Just leave it blank.). So, for T4s at the end of this year, just check off "EI exempt" and leave "Insurable Earnings" empty. For last year though, if your business was not incorporated, you should not have a T4 to file for yourself. When a business is not incorporated, then it is considered your self-employment income, and you are taxed on the profit of the business. Hope this helps!
Hi Naomi. I have a client who does not have a payroll account because they have no employees per se, but just a few people to whom they've paid commission. They have a mycra business account but without a payroll account there is no where to create the T4as. tried calling CRA - ugh - but they didn't seem to understand that you can pay people without having payroll account. So where oh where do I could to create these T4as? THANKS and LOVE your vids!
Hey Lisa! I think you have to have a payroll account to submit T4As. There are no remittances due, but, you need to put a 15 digit RP account number in Box061 on the T4A form. When I first read your comment, I was going to suggest manually making the T4As with the fillable PDF CRA has, and printing them and just mailing them in to CRA. (www.canada.ca/content/dam/cra-arc/formspubs/pbg/t4a/t4a-fill-21e.pdf). But then I realized that you still need to put a 15 digit RP account number on them. I think my theory is confirmed with your conversation with CRA. They just weren't very good at communicating that the Payroll RP account is not just for paying deductions (tracking money) , but also for filing T4As (information returns, aka tracking info). So, the solution is to open an RP account to submit the T4As, and reporting zero premiums for 2021. To confirm, you could call CRA and ask this question specifically in this way. Hope this helps! Thanks so much for the kind works!
Hi there! If your business is not incorporated, then you cannot be on payroll for your sole proprietorship. You *are* the business if it is not incorporated. The profit of the business is your taxable self employment income. Your CPP is calculated and paid on your personal income tax return. (x2! the company contribution AND the personal contribution). If your business is incorporated and you are a shareholder, and the Corp is paying you as an employee, then yes, you have to contribute to CPP on your paycheques. It is the Employment Insurance that you would not be eligible for, and do not have to, or get to, contribute to.
Hi, Its very well explained but i want one clarification that if a corporation is filing T4 return then what to write in the box of name of owner and its SIN number? i mean should i write the corporation name and the corporation number in this place ?
If there is one shareholder, you can put that shareholder's name and SIN number there, but I have left it blank in the past and had no trouble submitting the T4s. You do not need to put the corp name and BN there. Hope this helps!
Hi Naomi. My computer timed out before I was finished inputting all my T4's. When I logged into the CRA account I cannot find the T4's previously entered. Is there a file somewhere or do I need to start over?
Hi Bruce! I'm not 100% sure, as that has not happened to me before. I do know there is an option to 'leave' before finishing, but that involves downloading the .wbf file first. If you need to leave your computer mid-entry for a period of time, look for the option to "download .wbf file". When you come back and login again later, there are three options: "Start a new original or amended return, Continue a return from a saved .wbf file that has not yet been submitted to the CRA, Start a new original or amended return using your previously submitted .wbf file." Hope this helps!
Very helpful thank you very much. I guess T4A is similar . But Ill like to know if the line 48 (fees for services ) include GST or if this is total amount with GST include . Thanks
Hi Peak Janitorial! Thanks for the Question! You only put the fees paid for services in 48 without the GST. This is as per CRAs T4A Guide RC4157. You'll find this reference on the bottom left of page 12: www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4157/rc4157-17e.pdf In the past, I have seen some small businesses assume that their workers were contractors (A maid service comes to mind), when in fact, they were reviewed by CRA and CRA found that the workers were actually employees. The business was then required to pay the Employee and Company EI and CPP Portions, plus interest. There are many factors that CRA uses to determine if workers are contractors or employees, and it can be a grey area. Generally, but not always: A subcontractor uses their own tools and equipment and transportation, generally has some control over when they perform the service, often provides services to more than one client, and has the potential to lose money on a job. CRA's Guide RC4110 has more detail on this: www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4110/rc4110-17e.pdf If you are confident that your workers are contractors, then then the T4A is the way to go! But if you wonder that if reviewed, you may be on the hook to back pay the potential CPP and EI, you can always request a ruling from CRA to ask them to let you know about your workers specific situation by filling out a CPT1 form: www.canada.ca/en/revenue-agency/services/forms-publications/forms/cpt1.html Thanks again for the question, and Happy Bookkeeping! Naomi
Yup! It's also under the payroll section -> File a Return. If you choose from there "Webforms" you will see all the Tslip options available, and T5 is on the list!
Great video! But I assure you Felix Potvin is a real person! Quick question since payroll remittance is due Jan 15 for the previous year. When filing the T4 summary remittance paid and you file the summary in Feb you would have paid the remittance in Jan but on the summary it says balance due of the remittance?
I was a Leafs fan growing up, though, I'm sure his T4 was a little higher than in the vid ;) When reporting total remittances on the T4 summary, you report all of the payments made towards the T4 year being summarized, no matter the date of payment. So, if a business paid the remittances on time at the right time for 2021, (they would have paid Jan 2021's on Feb 15th 2021), and so all of the payments from Feb 15th 2021 to Jan 15th 2022 are reported on the 2021 T4 Summary. If they paid 2020 late and payments for that year showed up in 2021, any payments made towards the 2020 T4s would not be included: It's not when the payments are made, it's all the payments made towards the T4 calendar year being reported. Side note, if you are not sure, that "total remittances" is corrected once filed by CRA. Even if a business puts zero for the remittances total, the summary will be assessed correctly, as long as all the other boxes are filled in correctly. (CRA knows how much has been remitted, that box is more for the filer to know how much they may owe!) Thanks for the great question!
A Question: How do those T4s get attached to/or sent out to employees without mailing them? So the employee can find them in their MyAccount CRA login. Is there an extra step to take to send them out electronically once the CRA has processed those T4s?
CRA does not issue the T4s directly out to the employees, that is the responsibility of the employer. If you choose not to mail them or hand them out physically, I would suggest putting a password on the PDF with a PDF editor if you choose to email them. (The SIN number of the employee is often used for this). I don't suggest emailing T4s without a password, it is has security risks. But yes, after CRA has processed the T4s, if the employee happens to have access to their MyAccount with CRA they can see the details of their Tslips there for each year. But not everyone has access to their CRA MyAccount, and the employer does need to distribute the T4s to the employees in a secure why.
FOLLOW_UP...if I phone CRA will they walk me thru the steps?.I just dont want to waste my time on hold ( can be a long time ) if they will not..Thanks again.
Thanks for your video. If employment income $3,371.47 ( line 14) ; income tax deducted $ 374.46 ( line 22) ; Employee's CPP contribution $ 142.20 (line 16) ; EI insurable earning $ 3,371.47 (line 24); what number we should to fill in (line 17 ) Employee's QPP contributions and (line 26) CPP/QPP pensionable earning in T4 year 2019. Please advise
QPP is only for Quebec Pension deductions. Are you in Quebec? If not, then you likely did not deduct QPP, so line 17 is zero. If employment income was $3,371.47, then line 26 CPP/QPP pensionable earnings are also $3,371.47. (I can see why the CPP/QPP label might throw you off, but the earnings are either CPP pensionable or QPP pensionable depending on your province, but it's the same either way, $3,371.47)
@@NaomiWilkins , I tried to put zero line 17 Employee's CPP contributions , " Error C16 - You have entered CPP and QPP contributions on the same slip. A separate T4 slip is required for each province of employment " . Please advise
Hi! Sorry I missed this comment! Here's the link to my resources page, scroll down to the bottom for the downloadable templates. Thanks! thehappybookkeeper.ca/resources/
@@viktoriaiadykina823 Hi Viktoriia! I have rebranded! I have a new website now, my apologies! Here's the updated link: naomiwilkins.ca/templates.html Thank you so much for your comment! I will update the description of this video with this new link! Have a Great Day!
As the executor of my fathers estate I now have to claim my compensation..I opened a payroll account with CRA and now need to submit a one time T4 and then close the account.( as i understand ) I cannot find any info of how to go about my next steps..deductions etc...and how to pay...any help?...Thanks.
Hi There. I do not have any experience with this situation, so I cannot give any guidance. My experience is with small businesses and employees. I do hope CRA has more guidance for you. My condolences on the loss of your father.
Hi i just submitted my employee’s t4 unfortunately i cant save or download and cannot print at all after i submitted but i have a confirmation receipt.Is there any possibility that i can print the original T4 submitted to CRA?
Hi There! I'm not sure... I know I can print ugly T4s from my CRA Business Account (Not official T4s, but a table of the amounts submitted), but I'm not sure about the nice official pretty ones.. SO! I just tried it. Under the payroll page there's a box with tabs, and on the "Returns Tab" it lists the returns submitted. The column on the far right is titled "Actions" and there is a link to "Request Download." I just clicked it, and it let me submit the request, but said it would take up to 48 hours to be available on the "Reports" tab... So, I will check in the next couple of days and report back!
So, the report it gave to me was a csv download (like a spreadsheet). Very disappointing :( You can print the 'table' looking T4 from CRA My Business Account for the employee. It does have all of the totals they need to do their taxes. But it isn't the official looking one. You can print that once the T4s are processed from the payroll section of CRA, the "returns" tab, and at the bottom "view return details". Click into the "Processed" link to get to the summary information, scroll down to the "View slip information" button, and click "Details" under "view slip". It's not pretty, but it has all the totals they need.
I suggest CRA My Payment: www.canada.ca/en/revenue-agency/services/e-services/payment-save-time-pay-online.html You are paying the balance due on the Payroll source deductions. If you are having issues with this site, call cra and request remittance forms for the Payroll Account. CRA will pop them in the mail, and then you can just go to the bank. If CRA has send you a statement of balance owing already, there should be a payment slip there already that you can take to the bank. If you call CRA, call right at 9am to avoid a long hold: (800) 959-5525
@@nomij79 Thanks indeed. It is very helpful. Just one more question. If I pay to myself as a business owner, I guess, I can put my name both as payer and payee, right?
@@bhuwanprasad909 Nope! If you are the business, the biz profit is your profit. You cannot pay you. You are just you, and your profit is your income. If you are a shareholder in a Corp, the corp's name is not your name, it is not you. It has a different name. The corp is not you and the corp's profit is not yours. A corp can issue you a T4. If you are a shareholder in that corp, it can also issue you a T5. You should seek out a local account for advice on your specific situation.
HI there, thanks for the video. I do use Web Forms to enter my T4s ... and agree its quite straight forward... however: Tonight I entered about 15 forms with only a couple to go and the site seemed to crash and said "we are sorry but we cannot complete your request at this time". I decided to log in and see if I could continue... but all my T4s that I had entered were nowhere to be found. I guess because I had not actually completed and filed the return there was nothing to amend. Any idea if all of the T4s are gone for good? I feel I may have to start over... hence the need to get an access code...
Hi I am trying to create T4 directly from my business account but I don't see the options like earlier year. Has it been changed? Could you please have a look at the current business account and suggest.
Yup! When you travel to the payroll page, you should see a section for "Balances and payments"... it's not in that section. But below that section is another section that has tabs "Returns" "Remittances" "Pier" etc. Under the return tab, which is the default, there are three buttons at the bottom: "File a Return" is one of them and is highlighted in blue. Are you able to see that? Great question, and pinning for others. Thanks!
So far the most complete step by step manual Canadian payroll process thank you
I'm so glad you found it helpful!
Thank you so much this is by far the best video I've seen
I'm so glad you found this helpful!
Thank you. This was the first place that actually explained how to get a web access code. I really appreciate how thorough you were!
It was easier then I thought - 100% thanks to you. Clearly explained...
I'm so glad you found it helpful!
i completed mine after watching your vidio.thank you so much!
Excellent Naomi. Very helpful video.
Thank you for your comment!! I'm so glad you found this helpful!
Great work! Thanks for making and sharing this!
I'm so glad you found it helpful! Thank you for your comment!
Hi Naomi, Thank you so much. It was such a blessing to watch your video in these tough times. Please keep up your good work.
I'm so glad you found it helpful!
@@NaomiWilkins Thank you
Fantastic instructional video for all employers and payroll workers. THANKS!!!
I'm so glad you found it helpful!
Hi Naomi, thank you so much for this video! It was so helpful and I filed T4 slips first time in my life for company with over 40 employees. I had many items (DPSP, RRSP, Group life Insurance, retyring allowances and etc.). I was so nervous to figure them out what box those one will go and after watching your video especially when you said "that's it we're done", that encourage me to stay calm and to complete my work. I was so happy to see when system processed my work and I said to myself "that's it you did it!!" Very supportive. All what you said was clearly understandable. Much appreciated for your work Naomi!!
Wow!! That would have taken such a long time! Especially figuring out all the different boxes needed! Way to go!!! I didn't cover the many extra item types in the Video! Your story is a testament to others that; everything is figureoutable if you take your time! You are on FIRE! 🔥🔥🔥🙌Are you going to switch to a payroll program for 2022? Wagepoint is a favorite of mine... and they'll send the T4s off FOR you next year!
For those reading this comment, the CRA Website for looking up where to put the other different box types is at the bottom of this CRA Webpage: www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/completing-filing-information-returns/t4-information-employers/t4-slip/filling-t4-slip.html
This video is magnificent! Clear audio and video, coherent, perfect flow, relevant explanations ... just spectacular. You saved me much time, searching, and possible errors. Thank you sincerely!
Actually, I do have to admit these past 12 months have been a challenge and being my first time I was not able to submit the T4 for my nanny until today (Mar 20, 2021) for 2020 tax year. I was late. =( How strict is the CRA when it comes to this? I was going to call during business hours to ask as well.
Hi Andy! Thanks for the kind words! I'm so glad you found it helpful! Regarding your late filing, you'll get dinged a bit of money. $10/day late, so $200 bucks. You are not the first, nor will you be the last, to file late. Life happens! www.canada.ca/en/revenue-agency/services/tax/businesses/topics/payroll/penalties-interest-other-consequences/payroll-penalties/penalty-failure-file-information-return-date.html
Thank you Naomi for the excellent video. It was perfect for me and I filed my first T4 with your help
Also, your replies to others comments, clarified some of the same questions I was uncertain about so I appreciate that too
Very well done and totally helpful
Thanks so much for your comment! I'm so glad you found the video and the discourse helpful!
Thank you very much Naomi for the well-explained video. It was my first time filling my T4s by myself and you made my life much easier.
I'm so glad this helped!!!
Just did this for the first time with your help. Thank YOU!!!
I'm so glad you found it helpful!
Thank you very much. This video was very helpful.
Thank you ! very helpful !!
I'm so glad you found it helpful!
Extremely helpful. and extremely well explained, I can not thank you enough, Thank you so much. you made my life much easier.
Thanks so much for your comment! I'm so glad you found it helpful!
This was very helpful, thank you so much Naomi!
Thanks for your comment! I'm so glad you found it helpful!
Thank you ever so much for this video! It has everything I needed to be able to file the information return. Amazing work!
I'm so glad you found it helpful!
This was so helpful and straight forward. Thank you!
I'm so happy you found it helpful! :)
Very helpful. Thank you
Thank you for the valuable information. It was great.
I'm so glad you found it helpful!
It's a great help to me, thank you very much!
I'm so glad you found it helpful!
Awesome video! Thank you!
I'm so glad you found it helpful! :)
Thanks Naomi - one question though, the employees SIN is showing up with six stars and the last three digits, is this correct for 2022?
Hi Leesa! Yes, I've seen that now for the summary web page, but the actual T4s should have all 9 digits showing when you download the PDF of the T4s. (I haven't processed any for 2022 yet myself, but I remember the stars in a memory from last year).
@@NaomiWilkins no, only the last 3 numbers are showing up on the actual t4
@@leesachittle171 On the employee copy? Sorry, I don't have an answer for you. I'll have to see what happens when I do 2022's. For a quicker answer, call CRA at 1 (800) 959-5525.
Hi, I called CRA this morning and she said that's how they are now for privacy, but now the employee cannot verify that the SIN on their T4 is correct. Some things they do are ridicules. If you hear anything different, please shoot me a message if you don't mind. Thanks
@@leesachittle171 Thank you so much for sharing this for others to see!!!
Thank you HAPPY BOOKEEPER! This was very helpful. Much appreciated.
Hi Naomi, thank you for amazing video. It is so helpful. I have a question one of my employee is my mother in law. Is she expect exempt from Ei contribution ?
Thank you so much !
I do not have a definitive answer on that, it's not something I've come across before. But it's a very good question. You can give EI Rulings a call at 1 (866) 670-6402, they should be able to give you a quick answer on that.
Hi Naomi, Doe you have a video on how to fill in ROEs?
No, I don’t have a video on how to fill in the ROE. But I just tried to find one, and I think I really need to make one!
What I can say though, is that you will need to first register for ROE Web. www.canada.ca/en/employment-social-development/programs/ei/ei-list/ei-roe/register-roe.html
It’s not CRA, it’s a branch under Service Canada. So, you need to create a log in especially for it. There are two ways; on with a Sign In partner (using a bank log-in to confirm your identity), and the other way is by creating a GCKey.
Once you’ve created your account and signed into ROEWeb, you set up your professional profile. THEN you add the profile of the organization (business) issuing the ROE. This second step can take time to activate, as an authorization code is mailed to the business address.
If you have any issues with creating your ROEWeb account or need any other assistance with ROEs, you can call Service Canada’s Employer Help Centre at 1 (800) 367-5693.
Hope this helps!
Thanks so much again, and have a Wonderful Week!
Naomi
thanks for the super helpful info. I apply for CEWS in 2020, anything need to pay attention , when filling the T4 ？
Yup, this year there are new boxes on the T4s. They are required for employers to fill out so CRA can double check Canadian's CERB claims. Here's the info on the new boxes in 2020: www.canada.ca/en/revenue-agency/campaigns/covid-19-update/support-employers-cra-covid-19.html#howto Also, as an employer who applied for either the CEWS and/or the TWS, you will also need to 'file' the TWS. Either fill out form PD27, or file it online. Here's CRAs info on the PD27 www.canada.ca/en/revenue-agency/services/subsidy/temporary-wage-subsidy/tws-reporting.html and here's my video on how to file it online ua-cam.com/video/pDn3zIgtlcg/v-deo.html&ab_channel=TheHappyBookkeepingCoach
@@NaomiWilkins wow! thanks for all those info. you help a lot!
Wow Amazing Content here. thank you. Like and Subscribed
I'm so happy you found it helpful!! Thanks so much for subscribing!
Excellent.
Thank you
I'm so glad you found it helpful!
Thank you sooo much, Naomi! You are wonderful and I am so happy to have found you on UA-cam! So much great information and very well explained. Quick question: we miscalculated and have a balance owing for underpaying CPP and income tax, how would you pay it? The final source deductions for Dec have been sent already...so how do we make up the balance?
Thanks so much for the comment! I'm so glad you found this video helpful! There are many ways to pay the balance due. If you use online banking, choose the business tax option for the payroll account (ending RP0001) and choose the type of payment as "Balance Due" for period ending Dec 2022. Or if you use CRA My Payment, choose "Balance Due" as the type of payroll source deductions payment, period end 12-31-2022. And there are options to choose from too if you log into your CRA My business account. The important thing is to make sure you are able to note that the payment is for Period Ending Dec 31st 2022 so that it goes to the correct year.
Hi: I just chanced upon it and find quite useful. Wondering if I can upload T4 directly from my business account?
Yup! Jump to 11:24 in the video :)
@@NaomiWilkins Wow, thanks indeed for a quick reply. It was very helpful. I have another question: I am both woner and employee of my company. So, I pay to myself, my deductions are only Income Taxes and CPP. For Income tax, I see there is just one slot, so, I guess, I need not fill out seprately for federal tax and provincial tax deductions. But, for CPP, of course, I have two slots one each for employer's and employee's. An early reply will be highly appreciated.
@@bhuwanprasad909 Hi! Just to confirm, your business is incorporated, correct? So, you are a shareholder in the corporation that is also on the payroll? (Asking, because a self employed person, that is, a non-incorporated business, cannot be their own employee).
Though, in answer to your question, when you fill in the slots on each T4 in webforms, you are only putting in the DEDUCTED amounts. That is, just the employee portion. At the end, it will calculate what should have been contributed as 2 x the CPP deducted and 2.4 x the EI deducted. The T4s for the employees does not show employer expenses, just the Tax, CPP, and EI that was deducted from their paycheques.
@@NaomiWilkins Thanks again. The company is incorporated, yes. Just to give an example: Gross pay = $50,000, Tax deduction = $13,454.55, CPP- Total = 2,548.45 (which is both employee's and employer's). So, basically, we have to fill out these numbers in T4.
@@bhuwanprasad909 Yup! Just the employee portion of the CPP goes on the T4. And then the summary when you're done will show the total CPP due.
Great video! One question for the Employer Summary, who's SIN do you use if this is a not for profit with no owner and no shareholders?
You can leave it blank, and CRA will still accept the T4 filing :)
Ooops found answer in another thread, leave it blank!
@@lisaharding635 You weren't alone in your question! It's not clear on CRA, is it?
Naomi, thank you for this. I forgot to save the file for future import and I’m wondering how I go back in to do that last step. I already submitted the web form for this year so my choices are do a new form or an amended form but really I just want to access the one I already submitted. I already submit it, so that I can save the file for future import. I also wonder if you know how I can just extract one T4 from the series to email a PDF for one employee?
Thanks for your comment! I am not aware of a way to get the file for future import, but I am familiar with the regret of wishing I had downloaded it before finishing! To extract one page of the PDF (without a PDF editor) you can choose the "Print to PDF" option from your printer list, and only print the page you are extracting. Hope this helps!
@ 10:55...why do you have to go to CRA login..what happens next when you click next in the Web forms access?
There are two ways to get to Webforms. If you use the WAC code without logging into the CRA My Business Account, Web forms looks exactly the same. Both ways look the same as after you click "File a return with Web Forms" at 11:55 in the video :) Hope this helps!
@@NaomiWilkins okay, thank you! :)
Hi Naomi, your video was extremely helpful. I used the web forms option and unfortunately I made an error when submitting and need to file an ammendment and submit a document explaining the error. Is there an area at the end of the ammendment process that lets me attach that letter? Or do I need to submit that in a different area?
I'm glad you found the video helpful. I haven't amended for a while now, so I don't remember the process. I do not believe there is a place to upload a letter, but I do think there is a place to comment with explanation maybe? Sorry I cannot be of more help. I'm also a bit late in responding to your comment, so you likely have figured it out already! I hope it went well for you!
@@NaomiWilkins yes, thank you. I just needed to dig more lol. Turns out the CRA website has a spot to respond directly to their request for information. It simply isn't user friendly is all lol
Thanks Great video
Thank you so much for your comment!
Thank you so much for your video, it has helped me so much!! I have a couple of questions for you, number one is on the Summary page it asks for a SIN # of proprietor, what if it is a charity and there is no owner but only board members? What do I put in for that? Also, at the end after we submit the T4 slips and the Summary, how do we save it on our computer? Can we send an email to our employee's with their T4 slips or is it only by mail that we send their T4's. I only have 4 employees.
Hi! You can leave the SIN# of the Proprietor blank. Also, at the end be sure to click the "Download PDF version of your return" (start at 23:46 in video). I do not suggest emailing the T4s, as email isn't the safest to put in SIN# info. People do it... but, it's not suggested as there are risks involved with email. Safer to Snail Mail them!
Thank you so much, for this information. You have been most helpful!
Thank-you
You're welcome!
Hi Naomi! Thank you so much for that informative video. I just got a little bit confused when you started talking about the Max EI insurable earnings. I just incorporated my own company and will only be paying myself a salary. Do I need to do anything differently in terms of the EI calculations? I still need to remit employee and employer portions. For the box for max insurable earnings, do I just put zero here? How does this change, if I am the sole owner and employee of the company? Thank you!
Hi Leanne! Moving forward, as an employee of the corporation that you are the only shareholder, you are correct, it is a "non-arms length relationship" and so your wages would not be insurable. Moving forward, you would not deduct employee EI off of your paycheques (and therefore there is also no employer portion to contribute). There is a checkbox on payroll calculators and payroll apps that you check off "EI Exempt" that enables the calculation to not deduct EI. That same checkbox is on the T4 when you file it next year, you can see it at 18:20 on the video above. If you check off "EI exempt," CRA Webforms will expect the EI Insurable Earnings to be empty, (I think it even gives an error if you put 0.00 in there! Just leave it blank.). So, for T4s at the end of this year, just check off "EI exempt" and leave "Insurable Earnings" empty. For last year though, if your business was not incorporated, you should not have a T4 to file for yourself. When a business is not incorporated, then it is considered your self-employment income, and you are taxed on the profit of the business.
Hope this helps!
Hi Naomi. I have a client who does not have a payroll account because they have no employees per se, but just a few people to whom they've paid commission. They have a mycra business account but without a payroll account there is no where to create the T4as. tried calling CRA - ugh - but they didn't seem to understand that you can pay people without having payroll account. So where oh where do I could to create these T4as? THANKS and LOVE your vids!
Hey Lisa! I think you have to have a payroll account to submit T4As. There are no remittances due, but, you need to put a 15 digit RP account number in Box061 on the T4A form. When I first read your comment, I was going to suggest manually making the T4As with the fillable PDF CRA has, and printing them and just mailing them in to CRA. (www.canada.ca/content/dam/cra-arc/formspubs/pbg/t4a/t4a-fill-21e.pdf). But then I realized that you still need to put a 15 digit RP account number on them. I think my theory is confirmed with your conversation with CRA. They just weren't very good at communicating that the Payroll RP account is not just for paying deductions (tracking money) , but also for filing T4As (information returns, aka tracking info). So, the solution is to open an RP account to submit the T4As, and reporting zero premiums for 2021. To confirm, you could call CRA and ask this question specifically in this way.
Hope this helps! Thanks so much for the kind works!
Do I have to contribute to CPP for myself as a business owner?
Hi there! If your business is not incorporated, then you cannot be on payroll for your sole proprietorship. You *are* the business if it is not incorporated. The profit of the business is your taxable self employment income. Your CPP is calculated and paid on your personal income tax return. (x2! the company contribution AND the personal contribution).
If your business is incorporated and you are a shareholder, and the Corp is paying you as an employee, then yes, you have to contribute to CPP on your paycheques. It is the Employment Insurance that you would not be eligible for, and do not have to, or get to, contribute to.
@@NaomiWilkins Got you. Thank you very much.
Hi, Its very well explained but i want one clarification that if a corporation is filing T4 return then what to write in the box of name of owner and its SIN number? i mean should i write the corporation name and the corporation number in this place ?
If there is one shareholder, you can put that shareholder's name and SIN number there, but I have left it blank in the past and had no trouble submitting the T4s. You do not need to put the corp name and BN there.
Hope this helps!
@@NaomiWilkins Thank you.
Hi Naomi. My computer timed out before I was finished inputting all my T4's. When I logged into the CRA account I cannot find the T4's previously entered. Is there a file somewhere or do I need to start over?
Hi Bruce! I'm not 100% sure, as that has not happened to me before. I do know there is an option to 'leave' before finishing, but that involves downloading the .wbf file first. If you need to leave your computer mid-entry for a period of time, look for the option to "download .wbf file". When you come back and login again later, there are three options: "Start a new original or amended return, Continue a return from a saved .wbf file that has not yet been submitted to the CRA, Start a new original or amended return using your previously submitted .wbf file." Hope this helps!
Very helpful thank you very much. I guess T4A is similar . But Ill like to know if the line 48 (fees for services ) include GST or if this is total amount with GST include .
Thanks
Hi Peak Janitorial! Thanks for the Question!
You only put the fees paid for services in 48 without the GST. This is as per CRAs T4A Guide RC4157. You'll find this reference on the bottom left of page 12: www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4157/rc4157-17e.pdf In the past, I have seen some small businesses assume that their workers were contractors (A maid service comes to mind), when in fact, they were reviewed by CRA and CRA found that the workers were actually employees. The business was then required to pay the Employee and Company EI and CPP Portions, plus interest. There are many factors that CRA uses to determine if workers are contractors or employees, and it can be a grey area. Generally, but not always: A subcontractor uses their own tools and equipment and transportation, generally has some control over when they perform the service, often provides services to more than one client, and has the potential to lose money on a job. CRA's Guide RC4110 has more detail on this:
www.canada.ca/content/dam/cra-arc/formspubs/pub/rc4110/rc4110-17e.pdf
If you are confident that your workers are contractors, then then the T4A is the way to go! But if you wonder that if reviewed, you may be on the hook to back pay the potential CPP and EI, you can always request a ruling from CRA to ask them to let you know about your workers specific situation by filling out a CPT1 form:
www.canada.ca/en/revenue-agency/services/forms-publications/forms/cpt1.html
Thanks again for the question, and Happy Bookkeeping!
Naomi
Can I use represent the client and use CRA business account to file and submit T5 electronically?
Yup! It's also under the payroll section -> File a Return. If you choose from there "Webforms" you will see all the Tslip options available, and T5 is on the list!
Thank you for your reply
Great video! But I assure you Felix Potvin is a real person! Quick question since payroll remittance is due Jan 15 for the previous year. When filing the T4 summary remittance paid and you file the summary in Feb you would have paid the remittance in Jan but on the summary it says balance due of the remittance?
I was a Leafs fan growing up, though, I'm sure his T4 was a little higher than in the vid ;) When reporting total remittances on the T4 summary, you report all of the payments made towards the T4 year being summarized, no matter the date of payment. So, if a business paid the remittances on time at the right time for 2021, (they would have paid Jan 2021's on Feb 15th 2021), and so all of the payments from Feb 15th 2021 to Jan 15th 2022 are reported on the 2021 T4 Summary. If they paid 2020 late and payments for that year showed up in 2021, any payments made towards the 2020 T4s would not be included: It's not when the payments are made, it's all the payments made towards the T4 calendar year being reported. Side note, if you are not sure, that "total remittances" is corrected once filed by CRA. Even if a business puts zero for the remittances total, the summary will be assessed correctly, as long as all the other boxes are filled in correctly. (CRA knows how much has been remitted, that box is more for the filer to know how much they may owe!) Thanks for the great question!
For CPP Pensionable Earnings, do you subtract the 3500 exemption from the total income?
Hi There! Nope, no need to subtract the $3,500!
A Question: How do those T4s get attached to/or sent out to employees without mailing them? So the employee can find them in their MyAccount CRA login. Is there an extra step to take to send them out electronically once the CRA has processed those T4s?
CRA does not issue the T4s directly out to the employees, that is the responsibility of the employer. If you choose not to mail them or hand them out physically, I would suggest putting a password on the PDF with a PDF editor if you choose to email them. (The SIN number of the employee is often used for this). I don't suggest emailing T4s without a password, it is has security risks. But yes, after CRA has processed the T4s, if the employee happens to have access to their MyAccount with CRA they can see the details of their Tslips there for each year. But not everyone has access to their CRA MyAccount, and the employer does need to distribute the T4s to the employees in a secure why.
FOLLOW_UP...if I phone CRA will they walk me thru the steps?.I just dont want to waste my time on hold ( can be a long time ) if they will not..Thanks again.
Thank you so much!
I'm so glad you found this helpful!
Thanks for your video. If employment income $3,371.47 ( line 14) ; income tax deducted $ 374.46 ( line 22) ; Employee's CPP contribution $ 142.20 (line 16) ; EI insurable earning $ 3,371.47 (line 24); what number we should to fill in (line 17 ) Employee's QPP contributions and (line 26) CPP/QPP pensionable earning in T4 year 2019. Please advise
QPP is only for Quebec Pension deductions. Are you in Quebec? If not, then you likely did not deduct QPP, so line 17 is zero. If employment income was $3,371.47, then line 26 CPP/QPP pensionable earnings are also $3,371.47. (I can see why the CPP/QPP label might throw you off, but the earnings are either CPP pensionable or QPP pensionable depending on your province, but it's the same either way, $3,371.47)
My province is Prince Edward Island. I should put $ 3,371.47 line 26 CPP/QPP personable earnings, Is that right ?
@@NaomiWilkins , I tried to put zero line 17 Employee's CPP contributions , " Error C16 - You have entered CPP and QPP contributions on the same slip. A separate T4 slip is required for each province of employment " . Please advise
@@caoson68 Line 17 is QPP. Try just leaving it blank.
Hi, Thanks for this video very informative, i could not find the excel template.
Hi! Sorry I missed this comment! Here's the link to my resources page, scroll down to the bottom for the downloadable templates. Thanks!
thehappybookkeeper.ca/resources/
@@NaomiWilkins the link is not working. Please advise
@@viktoriaiadykina823 Hi Viktoriia! I have rebranded! I have a new website now, my apologies! Here's the updated link: naomiwilkins.ca/templates.html
Thank you so much for your comment! I will update the description of this video with this new link!
Have a Great Day!
As the executor of my fathers estate I now have to claim my compensation..I opened a payroll account with CRA and now need to submit a one time T4 and then close the account.( as i understand ) I cannot find any info of how to go about my next steps..deductions etc...and how to pay...any help?...Thanks.
Hi There. I do not have any experience with this situation, so I cannot give any guidance. My experience is with small businesses and employees. I do hope CRA has more guidance for you. My condolences on the loss of your father.
Do you have video for T5, too? I am trying to prepare through CRA account. However, when I fill out Business number, it keeping on giving Error.
Hi There! I do not have a video for T5s, but you can always call CRA for clarification on how to file them. Their phone number is 1 (800) 959-5525.
where can I find your Manual Payroll Excel Template ?
Currently at thehappybookkeeper.ca/resources/ at the bottom of the page :)
Hi i just submitted my employee’s t4 unfortunately i cant save or download and cannot print at all after i submitted but i have a confirmation receipt.Is there any possibility that i can print the original T4 submitted to CRA?
Hi There!
I'm not sure... I know I can print ugly T4s from my CRA Business Account (Not official T4s, but a table of the amounts submitted), but I'm not sure about the nice official pretty ones.. SO! I just tried it. Under the payroll page there's a box with tabs, and on the "Returns Tab" it lists the returns submitted. The column on the far right is titled "Actions" and there is a link to "Request Download." I just clicked it, and it let me submit the request, but said it would take up to 48 hours to be available on the "Reports" tab... So, I will check in the next couple of days and report back!
So, the report it gave to me was a csv download (like a spreadsheet). Very disappointing :(
You can print the 'table' looking T4 from CRA My Business Account for the employee. It does have all of the totals they need to do their taxes. But it isn't the official looking one. You can print that once the T4s are processed from the payroll section of CRA, the "returns" tab, and at the bottom "view return details". Click into the "Processed" link to get to the summary information, scroll down to the "View slip information" button, and click "Details" under "view slip". It's not pretty, but it has all the totals they need.
How would u pay the balance owing?
I suggest CRA My Payment: www.canada.ca/en/revenue-agency/services/e-services/payment-save-time-pay-online.html You are paying the balance due on the Payroll source deductions. If you are having issues with this site, call cra and request remittance forms for the Payroll Account. CRA will pop them in the mail, and then you can just go to the bank. If CRA has send you a statement of balance owing already, there should be a payment slip there already that you can take to the bank. If you call CRA, call right at 9am to avoid a long hold: (800) 959-5525
Any idea if can do through business account, meaning, I first go into my business account and then issue T4/T5 et al. I don't see any option tho.
Yup, jump to 11:30 on the video :)
@@nomij79 Thanks indeed. It is very helpful. Just one more question. If I pay to myself as a business owner, I guess, I can put my name both as payer and payee, right?
@@bhuwanprasad909 Nope! If you are the business, the biz profit is your profit. You cannot pay you. You are just you, and your profit is your income. If you are a shareholder in a Corp, the corp's name is not your name, it is not you. It has a different name. The corp is not you and the corp's profit is not yours. A corp can issue you a T4. If you are a shareholder in that corp, it can also issue you a T5. You should seek out a local account for advice on your specific situation.
Basically, asking through the business account, should I go through which RC or RP?
HI there, thanks for the video. I do use Web Forms to enter my T4s ... and agree its quite straight forward... however: Tonight I entered about 15 forms with only a couple to go and the site seemed to crash and said "we are sorry but we cannot complete your request at this time". I decided to log in and see if I could continue... but all my T4s that I had entered were nowhere to be found. I guess because I had not actually completed and filed the return there was nothing to amend. Any idea if all of the T4s are gone for good? I feel I may have to start over... hence the need to get an access code...