Year end is near

A list of tips and reminders for accurately completing and submitting T4 and RL-1 information returns
By Carswell’s Payroll Consulting Group
|Canadian Payroll Reporter|Last Updated: 12/23/2015

As 2015 winds down, payroll departments across the country are gearing up. Over the next several weeks, payroll professionals have to implement Jan. 1 changes and prepare for 2015 year-end reporting. T4s, T4As, RL-1s and RL-2 are due by Feb. 29.

Whether you have worked in payroll for years or are new to it, year-end reporting can be a busy and stressful time. The following tips can assist payroll departments with 2015 year-end reporting.

• Complete T4s for individuals who, in the ordinary course of an office or employment, received remuneration during the year, where Canada/Quebec Pension Plan (C/QPP) contributions, employment insurance (EI) premiums, Quebec Parental Insurance Plan (QPIP) premiums or income tax were required to be deducted or where remuneration was more than $500. Remuneration includes salary, wages, bonuses, vacation pay, commissions, taxable benefits, taxable allowances and retiring allowances.