2.0 Year-end FAQs 2023

Important notes about Year-end forms in Wagepoint 2.0

• Tax forms will not be automatically created. In order to create tax forms you must complete the Year-end workflow. If you would like Wagepoint to file forms to the CRA on your behalf, you must select Electronic submission when completing the process.
• The Year-end forms generator may take a few moments to populate fields between steps.
• Your Year-end forms workflow will automatically include T4s for relevant employees and T4As for relevant contractors for 2023. If you do not have employees, you will not see any T4s. If you do not have contractors, you will not see T4As.
• To save your progress at any time during the Year-end workflow, be sure to click Save & Exit. If you click Cancel and do not choose to save your work, you will need to restart the entire workflow again.

 

Is there a way that I can not generate a T4A for my contractor?

No, you cannot leave out the tax form for an individual. However, you can use the manual submission method, and then choose not to submit a form. Please keep in mind that if you select manual submission, you are responsible for submitting your forms to CRA.

 

I need to make an adjustment before I create my year-end forms.

At this time our adjustment tool is not available. Any adjustments will need to be made directly on the tax forms. If you need to make an adjustment in the meantime, contact Wagepoint Support and we will do our best to find a solution.

 

Do I qualify for tax-form generation in Wagepoint?

If you have either run payroll for at least one individual or have added an individual with year-to-date information, you qualify for tax-form generation in Wagepoint. 

 

How do I manually file my tax forms outside of Wagepoint?

The CRA offers some helpful resources:

• Filing the T4 Slip and Summary
• Deducting Income Tax on Pension and Other Income, and Filing the T4A Slip and Summary

Important: If you choose to manually file your tax forms outside of Wagepoint, it is your responsibility to send the appropriate forms to the CRA and to the employee/contractors that you employ.

 

When can I review and edit my tax forms?

You can review and edit your tax forms beginning on January 2nd, 2024.

 

When is the deadline to submit my tax forms electronically in Wagepoint?

Please note that the CRA deadline for filing returns and distributing forms is February 29, 2024. To avoid late penalties, we recommend that you complete any electronic submissions in Wagepoint by February 26 so you have enough time to ensure that everything is filed with the government and your employees on or before February 29, 2024.

How can I edit a T4 or T4A form?

You can edit your T4 and T4A forms within the Year-End Forms workflow. However, any changes made here will not be reflected elsewhere in your Wagepoint account.

 

How do I fill out Box 45 on T4s and T4As?

You can enter Box 45 information for your employees and contractors during the Year-End Forms workflow. If you try to continue the workflow without completing Box 45, you will receive an error message. Box 45 will need to be edited for each individual.

 

For further information on Box 45(T4) and Box 015(T4A) please see the Canada Revenue Agency's article about T4 Slips.

How can I add a tax reduction at source or reduced EI rates?

At this time, Wagepoint 2.0 can not apply a reduced EI rate or an employee tax reduction at source.

During the year end review process, if I make profile changes, will they be reflected on the tax forms?

Any changes you make to an employee's profile before you begin the Year-End Forms workflow will be reflected on the tax forms.

If you have already created a draft of your year-end forms, any changes you make outside the year-end workflow will not be reflected in the forms. You must make any necessary changes directly within the year-end workflow.

 

How can I view the data in a spreadsheet?

The data can only be viewed in individual forms. There is no spreadsheet compatibility at this time.

 

Can I add an employee to Wagepoint to have a T4 made?

Yes, as long as you either run payroll or enter year to date amounts for the individual before the end of the year. Please add the employee by December 30th, 2023.

Do you mail out the tax forms to my employees?

No, we do not. Employees will find their tax forms in their employee portals.

Can I amend my tax forms?

If you select electronic submission and notice an error after you submit your forms, the forms can be amended after March 1, 2024, in Wagepoint. If you would like to amend the form sooner, you can accomplish this with the CRA directly through your CRA business account.

The amendment process is not available for manually submitted tax form packages.