Question

I am stuck on a few payroll questions and was wondering if you could help me?

1. The CRA requires an employer to submit:

a) A copy of the final payroll register covering all employees in the reporting year

b) A T4 information slip for each employee with earnings in the reporting year

c) A T4 summary for the employer for reporting year

d) Both (b) and (c)

2. Workers’ compensation year-end reports are:

a) Standardized in format

b) Determined by the applicable jurisdiction

c) Based on employer preference

d) Always generated by payroll software packages

3. As part of the preparation to complete the current year payroll records:

a) Taxable benefits are checked for completeness and accuracy

b) Any necessary forms are available in advance

c) Planning for coordination with other departments has been completed

d) All of above

Answer 1

Answer 1 - D - BOTH B AND C

The CRA requires an employer to submit a T4 information slip for each employee with earnings in the reporting year along with a T4 summary for the employer for reporting year. Income and deductions are reported on the T4 slips and T4 summary is also required to be reported with it. The totals reported in T4 summary must tally with the totals reported in the T4 slips.