Sage 300: Canadian Payroll changes – Hotfix available for New Brunswick

Dear Sage Customers,

This is to inform you about the upcoming Payroll Tax change for New Brunswick.

The tax update is as follows:

  • Effective January 1, 2021, a reduced tax rate applies to the first tax bracket (tax rate reduced from 9.65% to 9.4%).
  • A prorated tax rate of 9.12% will be applied for the remaining six months beginning July 1, 2021. Please see CRA T4127 for July 01 2021 for further details.
  • This tax change only impacts the province of New Brunswick.

A hotfix is available for this tax change. This hotfix applies to Sage 300 2019, 2020, and 2021 with CT73J. Please note that CT73J must be installed prior to installing this hotfix.

For instructions on how to apply this hotfix, see Sage Knowledgebase Article 111256.

Note: If this hotfix is not applied, there would be a minor overcontribution of Income Taxes by your employees which will be refunded when they file their Income Tax Returns for 2021. Contact your payroll or financial consultant to understand the impact.

Best regards,

Sage Software Canada

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