A successful year-end revolves around – no huge surprise – your year-end documents. So we’ve prepared this article to guide you through Wagepoint’s 2021-2022 review and submission periods, as well as some helpful tips to keep you on track.
What’s new in 2021?
This year, we’re introducing daily submissions. Unlike previous years, when you had to indicate that you wanted to send your year-end forms to the Canada Revenue Agency (CRA) and Revenu Québec (RQ) before the deadline by clicking on a “Submit Early” button, this function is automatically baked into our process. Simply click “Submit” anytime during the review period of January 1, 2022 to February 21, 2022 and your file will be transmitted within one business day.
Tips and tricks to help with your year-end documents
- You must run a minimum of two (2) payrolls in the 2021 calendar year in order for Wagepoint to prepare and submit your T4/T4A/RL-1 forms. To check if you qualify, please review your payroll reports.
- Please confirm that you’ve correctly set your “Auto-submit tax forms” status in Settings > Account Settings to indicate how you’d like your year-end forms handled.
- The toggle is set to “Yes” by default, unless you have changed this setting in the past. Make sure that the toggle is set to "Yes" if you wish for Wagepoint to automatically file your year-end forms with the Canada Revenue Agency (CRA) and Revenu Québec (RQ) on your behalf on February 22, 2022, in the event that you do not submit them yourself before this date.
- Set the toggle to “No” if you wish to DIY, submitting your own tax forms to the government and your employees.
- As per the CRA/RQ, the year-end reporting period only looks at pay dates that fall within the calendar year — January to December 2021. In other words, anything you want showing on your 2021 year-end documents must be processed in 2021.
- Any payrolls processed outside of Wagepoint must be run through the system in order for the wages and taxes to be included in your year-end reports.
- Once your files are submitted, we will generate the final year-end forms in PDF format and make them available to your employees online through the employee portal. If you have active or terminated employees who don’t have access to their Wagepoint employee accounts online, you will need to print and physically mail or hand out their T4 / T4A / RL1. (You must also request their written permission to use alternate methods of delivery like standard mail.)
Are you one of Wagepoint’s nanny accounts? If you wish to submit your own year-end documents outside of Wagepoint, please set the auto-submit toggle in your account to “No” (Settings > Account Settings).
Important payroll timelines for 2021-2022 year-end
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Access other important year-end goodies in your Year-End Survival KIT.
- 2022 Statutory Holidays In Canada
- When Should I Process Payroll For The 2021-2022 Winter Holidays?
- 5 Really Important Things You Must Do Now to Prepare for Year-End
- Timelines and Tips for 2021 Year-End Documents (T4s, T4As and RL-1s)
- A Canadian Small Business Employer’s Guide to T4s, T4As and RL-1s
- Notes on Taxes and Remittances
- Worker's Compensation Rates for 2022
- Year-End Payroll Checklist (Canadian Accounting Partner)
- Year-End Payroll Checklist (Canadian Small Business)
- Wagepoint's Holiday Availability (Canada)
- Don't Be Haunted By Payroll Errors This Year-End
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