The July 2016 Payroll Tax Update for Sage BusinessVision 2015 and Sage BusinessVision 2014 is 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 contact Sage Customer Support:
Chat: Chat NowSage City: Sage BusinessVision CommunityEmail: [email protected]Tel: 800.215.5395
How to Download
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 “Jul-2016”.
Note: This update must be performed on all workstations running Sage BusinessVision.
Performing a TD1 Revision
TD1 revision required for employees in Prince Edward Island
The Prince Edward Island budget, tabled on April 19, 2016, announced that effective January 1, 2016, the province will increase the basic personal amount to $8,000 from $7,708. Since $7,708 has been used for employees for the first six months of this year, a basic personal amount of $8,292 will be applied for the remaining six months commencing with the first payroll in July. In order to have the prorated amount applied, perform the TD1 Revision function that automatically adjusts the tax credit amounts for the affected employees.
This process will also automatically update certain Provincial Claim amounts. Do not run the TD1revision process more than once.
Changes reflected in the July 2016 Payroll Update
The July 2016 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 July 1, 2016. To find out more about all the tax changes, or to obtain any updated TD1 forms for July 2016, please contact your tax consultant or government tax offices. You can also visit the CRA Web site: http://www.cra-arc.gc.ca.