Hi, I'm Debbie Peveril and you're listening to the weekly tip from Painless Financial Learning CA. This is the first tip in February, so my question is, what does February mean to you? You think of Valentine's Day and the days starting to get a little bit longer. For businesspeople, though, February is all about T4 and T5s. T4s are the forms you must file at the end of the month for the employees. You have to send the slips to employees by the end of the month and you have to send the summary to CRA (Canada Revenue Agency) by the end of the month. The same thing goes for T5s, which are paid to shareholders who received dividends. So, the T5s must also be filed by the end of February. Why do you care? Well, if you don't file your T4s and T5s by the end of February, there's a $25 penalty, with a maximum of 100 days. So, that's $2,500. The penalty also accrues interest daily. This is why February focuses our attention on T4s and T5s. Get them filed by the end of the month and avoid paying any money to CRA. You don't have to. Thanks for listening, and I look forward to talking to you next week.
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Electronic t4 Form: What You Should Know
Electronic return for more than 50 annual T4 statements Electronic submission of remuneration statement May 12, 2024 — You must file a remuneration statement electronically if your total remuneration for any part of the year is in excess of 20 000. Electronic remuneration statement | My HR — Government of Northwest Territories You may choose one of the following: Create electronic remuneration statement. This method is ideal for employers who use their own accounting software. It is not May 11, 2024 — Remuneration statements are required to be filed with the Employment Insurance (EI) office at the end of every calendar quarter and once a year. A remuneration statement consists of the following: Total remuneration for any part of the year less deductions and credits; and The name, address, job title (or equivalent) and remuneration amount for each individual employee of every business or organization during the preceding calendar year. If you have more than ten employees, write the name and employment number of each employee on the statement. Sep 15, 2024 — Electronic submission of remuneration statement Sep 15, 2018 — Electronic submission of a remuneration statement Note : Electronic submissions are only for employers who must electronically file T4's. May 1, 2024 – May 31, 2024 — Electronic submission of remuneration statement; if you have more than one employee, enter this same information for all employees Electronic remuneration statement for all employees Sep 15, 2024 — Electronic submission of a remuneration statement for the 2024 – 2024 fiscal year and once a year for the 2024 – 2024 fiscal year Electronic remuneration statement for all employees Sep 15, 2024 — Electronic submission of a remuneration statement for the 2024 – 2024 fiscal year Electronic submission of remuneration statement; if you have more than one employee, enter this same information for all employees Sep 15, 2024 — Digital remuneration statement for all employees May 10, 2024 — Electronic submissions must be filed at least three calendar weeks before a period of work begins. All employees who are required to submit an electronic remuneration statement for all periods in a calendar year should be able to do so by the end of December 31.
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Video instructions and help with filling out and completing Electronic t4
