Payroll & T4 Information
When is my pay day?
Pay dates for salaried employees are the 15th and the last day of each month. All other employees submitting a timesheet should refer to the payroll schedule to find the payroll cut-off date and deposit dates.
How do I get my pay cheque direct deposited to my personal banking account?
Faculty and Staff can complete a Direct Deposit Authorization form, attach a personalized “VOID” cheque and deliver both to Financial Services. You can also use this form to pay into two different bank accounts, direct deposit expense claims and change/cancel accounts.
Where can I find the payroll cut-off date listing?
This information is located in the current year Payroll Schedule.
When can I expect to receive my T4?
What are the amounts on my T4?
Please visit the Canada Revenue Agency Website for a detailed explanation of what is included in each box on your T4.
Most commonly questioned is box 40 - Other taxable allowances and benefits, this box can included any taxable benefit (amount paid by the employer on your behalf), it can include (depending on your eligibility) annual premium totals for Life Insurance, Accidental Death and Dismemberment Insurance, Medical Service Plan, and Health Spending Account (HSA) amounts transferred to RRSP. These amounts will also be added to box 14 - Employment Income which is your Gross Income (before tax amount).
How do I complete a TD1 form?
Always make sure you are completing the current year TD1 or TD1BC form.
Complete the personal information requested at the top of the first page.
The amount listed on Line 1. Basic personal amount is the amount each person is eligible to claim as an exemption, claim this by entering the amount in Line 1 in Line 13. Total Claim amount (TD1) and Line 11. Total Claim amount (TD1BC).
Review each of the other possible exemption amounts and add to Total Claim amount Line if you qualify. The total amount listed in your Total claim amount Line will be the amount of your annual income that is exempt from tax each year.
On the second page of TD1 there are options for indicating if you have
- More than one employer or payer at the same time. If you have two employers you can only claim the Line 1. Basic personal amount with one employer (Also on TD1BC form). It is recommended that you claim it at your highest income earning employment by entering the amount in Line 1 in Line 13. Total Claim amount (TD1) and Line 11. Total Claim amount (TD1BC). For the second (lower income) job you would put 0 (zero) in Line 13. Total Claim amount (TD1) and Line 11. Total Claim amount (TD1BC).
- Total income less than total claim amount check this box ONLY if you want no tax to be withheld from your pay (also on TD1BC form)
- Non-residents (only fill in if you are a non-resident of Canada.) This is only completed if you are a Canadian citizen working and living abroad.
- Deduction for living in a prescribed zone can only be claimed if you have or will be living in Northwest Territories, Nunavut, Yukon, or other prescribed northern zone for six months in a row in the calendar year.
- Additional tax to be deducted this is completely optional and is set up to account for any non-employment income that is not taxed that you will receive in the calendar year.
***Please note it is the responsibility of each employee to send updated TD1 and TD1BC forms any time the claimed amounts change or personal tax situation changes. This should be reviewed regularly at least at the start of each New Year.
How do I read my pay statement?
This section contains your current payroll and year to date (YTD – Total accumulated since January of current year) Total Gross (before tax) pay, Total Deductions (amounts withheld from your pay), and Net Amount (Total Gross pay less deductions).
This section shows your total number of Hours or Units and Rate of pay (for hourly employees) and the Gross Amount for the current pay and also the Gross Amount year to date (YTD – Total accumulated since January of current year).
Benefits, Deductions and Taxes
This section is separated by Employee paid deductions and year to date (Employee YTD) amounts, and Employer paid deductions and year to date (Employer YTD) amounts, and the Gross pay that was applicable to calculate each of the deductions and year to date (Applicable Gross YTD) amount.
Employee paid deductions can include (depending on your eligibility):
- Deductions before Federal Tax such as Union Dues, and College or Municipal Pension and Registered Retirement Savings Plan (RRSP) contributions
- Taxes including Provincial and Federal Income Tax, Canada Pension Plan (CPP), and Employment Insurance (EI).
- Deductions after Federal Tax such as Social Fund, Long Term Disability, and Parking
Employer paid deductions can include (depending on your eligibility):
- Taxes employer portion of Canada Pension Plan (CPP) and Employment Insurance (EI)
- Deductions after Federal Tax such as Dental and Extended Health
Federally Taxable Benefits
These are benefits paid on your behalf by the employer and can include (depending on eligibility) Life Insurance, Medical Services Plan (MSP) and Accidental Death and Dismemberment Insurance. These amounts will be added to your Gross pay amount to calculate Income Tax, Canada Pension (CPP) and Employment Insurance (EI) depending on eligibility.
Check or Direct Deposit
If you are paid by Direct Deposit into your bank account this section will show that, your bank name and the amount that was deposited. If you are paid by Check than it will show that here with the amount of your check.
Not sure who to contact?
Email email@example.com or call us at 604-504-7441, ext. 4236, we would be happy to put you in touch with a member of our team.