cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Created with Sketch. Visit our new QuickBooks News section for news, updates, and opportunities to give feedback.
Highlighted
Level 1

Where do i find recent release of reducing source deductions for employers. It was there when I first logged in, and should have printed, but now can't find QB article??

 
3 Comments
Highlighted
Level 7

Where do i find recent release of reducing source deductions for employers. It was there when I first logged in, and should have printed, but now can't find QB article??

Hey lindsay15,

 

QuickBooks Online Payroll offers powerful calculations and streamlined remittances. It's vital to ensure deductions and liabilities are recorded accurately to set yourself up for an easy year-end. The current situation is causing uncertainty for many small businesses, but QuickBooks has got your back. It sounds like you're asking about the CRA's temporary wage subsidy, and I'll be happy to help you with that.

 

We recently released an article detailing how to seamlessly set up this subsidy in QuickBooks Online Standard PayrollTemporary Wage Subsidy for Employers 

 

If you're currently subscribed to Advanced Payroll Powered by WagePoint, much of this is automated. You should have received the following information in an email.
 

We’ve added a new Eligible for the Temporary Wage Subsidy toggle to the Advanced Payroll Settings > Company information tab.

  • The default setting for this toggle is No – this means that we won’t reduce your payroll deductions. Our system will continue to calculate and collect the full source deduction amount.
  • If the customer is eligible, they need to change the toggle setting to Yes – this means that we’ll apply the 10% subsidy to the total gross payroll and reduce the federal/provincial income tax payable to the CRA by that amount. This reduced source deduction amount will be reflected in their Invoice report. 

Note: Once our system has determined that an employee has reached their maximum allowance ($1,375), their calculations will be paused. Also, once the maximum allowance per employer ($25,000) has been reached, the toggle will be disabled.

Feel free to reach out any time. I'll be happy to help.

Highlighted
Level 1

Where do i find recent release of reducing source deductions for employers. It was there when I first logged in, and should have printed, but now can't find QB article??

This subsidy was just changed to 75% today, so if we've already submitted Payroll using the 10% subsidy, how do we claim the difference allowed?

Highlighted
Level 7

Where do i find recent release of reducing source deductions for employers. It was there when I first logged in, and should have printed, but now can't find QB article??

Hey cokitt,

 

We're continuing to work with the CRA to ensure these subsidies are recorded efficiently and accurately. If you'd like to request an adjustment to an existing pay cheque, please reach out to one of our payroll specialists by using one of the following options. They'll be happy to help make this change.

 

Phone and Chat: Click Contact Us to learn how to reach phone and chat support.

Schedule a Callback: click (?)Help in the upper right > click Contact Us > explain your situation > click Let's Talk > choose Get a callback (Note: Callback hours are the same as regular phone hours.)

Social MediaFacebookTwitter, and Instagram from Monday to Friday between 9 a.m. and 8 p.m. ET

 

Don't be afraid to get in touch. I want to make sure you get the full value of this subsidy.