T4

Tax and employment insurance issues when settling dismissal claims

February 2, 2012 Stuart Rudner Employment/Labour Standards, Human Resources, Payroll, Pensions and Benefits, Source Deductions and Reporting, Wages and Compensation

Employment lawyers are generally quite adept at negotiating and resolving disputes arising out of the termination of an individual’s employment. We have all seen the statistics that only a miniscule number of dismissals result in a full trial and we know that in almost every case, it is better for the parties to reach a resolution than to proceed with litigation. That said, many traps exist in the settlement of a wrongful dismissal claim.

Canada Revenue Agency, CRA, Dismissal, EI benefits, Employment Insurance Act, employment insurance benefits, employment law, Income Tax Act, lump sum severance, negotiating and resolving disputes arising out of the termination, retirement, retiring allowance, RPP, RRSP, salary continuance, T4, T4A, tax withholding, termination, termination disputes, termination settlement, wrongful dismissal

CRA and MRQ 2012 source deduction and reporting changes

November 30, 2011 Alan McEwen Payroll, Source Deductions and Reporting

These are the most important things you need to know before you begin your first 2012 payrolls and while preparing to issue T4s, T4As and RL-1s for 2011. We break this down between new reporting requirements for the 2011 tax year and new source deduction requirements for payments made after January 1, 2012.

2011 tax year, 2012 payroll changes, 2012 tax year, automobile rates, Canada Revenue Agency, cpp, CRA, EI, End of the year 2011, indexing, Ministère du Revenu de Québec, MRQ, Payroll reporting, Payroll taxes, pensionable earnings, personal tax credit amounts, QPIP, QPP, Reporting changes for 2011, Revenue Quebec, RL1, Source deductions, T4, T4 reporting, taxable income

Supplemental Unemployment Benefit (top-up) plan reporting

October 31, 2011 Alan McEwen Payroll, Pensions and Benefits

We set up a Supplemental Unemployment Benefit (SUB) plan in the last year (also known as a top-up plan). How do I report the payments our employees received under the plan in 2011? Before answering this question, let’s clarify a couple of terms…