Time to gear up for year-end

Tips for successfully filing T4 and RL-1 information returns in Canada, Quebec
By Thomson Reuters’ Payroll Consulting Group
|Canadian Payroll Reporter|Last Updated: 12/01/2017

For payroll professionals, December is about more than the holidays. It’s also time to finish preparing for the 2018 tax year and year-end reporting.

With T4 and RL information returns due by Feb. 28, payroll staffers have a lot to do in a short period. The following tips can help you stay on top of 2017 year-end reporting requirements:

Prepare T4s for employees who 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 if their remuneration exceeded $500. Besides wages and salary, remuneration includes bonuses, commissions, taxable benefits and allowances, and other payments.