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Canada: Provision To Capture Special Exemptions (F1) (Doc ID 2286034.1)

Last updated on AUGUST 28, 2017

Applies to:

Oracle Fusion Global Payroll Cloud Service - Version and later
Information in this document applies to any platform.


Provision to capture special exemptions (F1)

Special Exemptions are applied before the tax rates are applied, reducing the taxable income. where do we enter this in cloud, on the tax card ?

From June vertex: Page 30 of 636

3 Subtract annual deductions. 48,880.00
F1: annual alimony, maintenance, or child care payments authorized by a tax services office
Annual Taxable Income: A = [P*(I-F-F2-U1)]-HD-F1

4 Calculate the federal tax using values from the Canadian Federal Tax Rates and Constants Table.

5 Subtract the federal non-refundable personal tax credit (K1). K1 = TC * Credit %

Tax: (A*R)-K-K1

TC: total claim amount reported on Federal Form TD1
Credit %: lowest tax rate in the Canadian Federal Tax Rates and Constants Table


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