Basic Personal Amounts not updated for 2019

SUGGESTED

Hi There,

I just realized that I did not update the Basic Personal amounts for any our existing employees. I'm not completely clear on the purpose of entering in those amounts. Does Sage refrain from deducting any tax until the basic amounts have been earned?

I have since made the update, but I'm not sure if/how this effected their tax deductions up to this point. If the tax deductions have been effected...how would I go about determining what the amount should be, and then correct it in Sage?

Please help! :/

Amy

  • 0
    SUGGESTED

    Hi ,

    Thanks for your question! When setting up an employee's profile in the payroll module and in the Taxes tab, you can manually enter the Federal and Provincial basic amounts. It's best to do this individually as some employees may not use the max amounts.

    How to update employee personal tax credits claims amounts?

    12266

    2019 Basic Claim amounts

    94871 (2019)

    88075 (2018)

    By the way, we recently posted this blog on: Learning about and using Sage 50 CA's Payroll Module !

    Things to note include that a payroll plan add-on is needed for automatic deductions to be available. Otherwise you can use the online calculator by the CRA, we have some details on how to do this here on this blog :  How to use the CRA's and Revenue Quebec's payroll tax calculators

    If you would like to discuss the addition of a payroll plan to your subscription, the Sage 50 CA sales team is available at 1-888-261-9610.

    Hope this helps!
    Erzsi

  • 0 in reply to Erzsi_I

    Hi Erzsi,

    Thank you for your reply. We do have Sage payroll and I am familiar with how to enter the claim amounts.

    I needed more background knowledge of what claim amounts were used for (I know "how to enter" payroll in SAGE, but am still learning the fundamentals). I looked at your suggested blog on how to use CRA payroll tax calculators and went on the CRA website to gather more info on manual calculations and am gaining more understanding.

    Thank you for your help and suggestions.

    Amy