The January 2017 Payroll Tax Updates for Sage BusinessVision 2017 and Sage BusinessVision 2014/2015 are now available for download.
Please note, upon installation of this update you will be prompted for a password. You will be receiving an email with the password, if you need the password immediately please email us at [email protected].
If you have questions regarding the status of your Payroll Update Plan, please contact Sage Customer Care at 866.725-0724, option 1. If you require assistance with installing the update, please reach out to your Sage Business Partner or if you have a current Support plan - contact Sage Customer Support:
Changes reflected in the January 2017 Payroll Update
The January 2017 tax update contains modifications to payroll tax tables and calculations that are used by Sage BusinessVision. These modifications reflect the income tax changes announced by the Canada Revenue Agency (CRA) that are effective January 1, 2017.
Basic Personal Amounts for 2017
|Newfoundland and Labrador||$8,978|
|Prince Edward Island||$8,000|
Changes to the Canadian Pension Plan
For 2017, the maximum pensionable earnings for the Canada Pension Plan (CPP) has increased to $55,300.00. The maximum CPP employer and employee contribution to the plan for 2017 will be $2,564.10.
Changes to Employment Insurance
For 2017, Employment Insurance (EI) premium rates have increased for both Quebec and provinces and territories outside of Quebec. Outside Quebec, premium rates will be 1.63% and the annual maximum insurable earnings (MIE) remain at $51,300. In Quebec, EI premium rates have decreased to 1.27% and the MIE remain at $51,300.
Changes to the Quebec Pension Plan
In 2017, the Quebec Pension Plan (QPP) contribution rate has increased to 10.80%, with the employee and employer each contributing
5.4%. The maximum pensionable earnings for the QPP has increased to $55,300.00. The maximum QPP employer and employee contribution to the plan for 2017 will be $2,797.20.
To find out more about all the tax changes, or to obtain any updated TD1 forms for January 2017, please contact your tax consultant or government tax offices. You can also visit the CRA Web site. http://www.cra-arc.gc.ca
T4 and T4 Summary forms
All necessary changes to T4 and T4 Summary forms are included in this update.
The Sage BusinessVision January 2017 payroll tax update does not include the ability to print form RL-1 to paper, but instead includes an RL-1 worksheet that Quebec employers can use to complete RL-1 forms for their employees via the Clic Revenu service. See http://www.revenuquebec.ca for details.
How to Download
There are two updates available, one for Sage BusinessVision 2017 and the other for Sage BusinessVision 2014/2015. You must log into the Knowledge Base to download the updates.
Please note, with our upcoming release of Sage BusinessVision 2018 next summer, we will no longer continue to offer updates to Sage BusinessVision 2015.
|1.||Navigate to the Sage Knowledge Base located at https://support.na.sage.com.|
Click Logon located at the top right to log into the Knowledge Base.
For Sage BusinessVision 2017 search for article number 80316 and for Sage BusinessVision 2014 or 2015 search for article number 80314.
Click Download Now or Direct Download to begin. It is very important that you read the instructions before installing the update.
How to update your payroll tables
Although the update does not affect your data files, we strongly suggest that you make a back-up copy of your data files regularly and before any updates for your protection. Network users should ensure they are the only users on the system when performing this update or while making back-ups.
You can verify that the Sage BusinessVision Payroll Update has been implemented by reading the tax table date available in System Info. From the “Help” menu, choose “About Sage BusinessVision” and then click on the “System Info” button. The “Tables” date should be “Jan 2017”.
Make a complete back-up of all data files.
|2.||Double click the payroll update executable package to begin.|
When prompted, enter the password to install the BusinessVision payroll update and click the “Next” button.
On the Welcome dialog, click the “Next” button, and then click the “Yes” button to make changes to the Sage BusinessVision program directory. The update will run automatically and will only take a few minutes.
Click the “OK” button to confirm that the installation is complete. If you are prompted to reboot your computer, do so before running Sage BusinessVision.
Sign-on to Sage BusinessVision and from the “Help” menu, choose “About Sage BusinessVision” and then click on the “System Info” button. The “Tables” date should be “Jan 2017”.
Note: This update must be performed on all workstations running Sage BusinessVision.
How to perform your payroll year end
The Payroll Update should be installed before performing a Payroll Year End.
From the “Utilities” menu, choose “Payroll Setup > Payroll Year End”. (If this option appears disabled (grey), then the option has been denied for the current user. A user with access to Payroll Year End is required in order to perform this function). DO NOT confuse a Payroll Year End with your fiscal year-end. A Payroll Year End is performed at the end of each calendar year, and is not related to your fiscal periods or fiscal year-end.
|2.||Choose whether to delete historical timecard details (the default is to retain all timecard details). For historical purposes, a minimum of two years of timecard detail should be retained. Click OK to continue with the Payroll Year End process. Do not run the Payroll Year End process more than once.|
|3.||Perform the TD1 Revision function that automatically adjusts the tax credit amounts for every employee. From the “Utilities” menu, choose “Payroll Setup > TD1 Revisions”. Ensure that the indexation factor is 1.014, then click the “OK” button. The system will make the necessary adjustments. This process will also automatically update certain Provincial Claim amounts. Do not run the TD1 revision process more than once.|
After the Payroll Year End process is completed, you can check the results from within the Payroll module. With any active employee’s details loaded, click the “Earnings” tab to display year-to-date earnings. Last year’s year-to-date earnings should be displayed in the “Last Year” column. This information is used for the production of T4’s (and Releve-1 Worksheet values for Quebec). The “This Year” column should appear empty, as no paycheques for 2017 have been produced.
Check each employee profile to confirm that the appropriate tax credit amount has been correctly adjusted, and that the correct value appears in the field for Provincial Credits.