EPY: CAN - Will You Deliver T4A for Canada Optional Delete for Group Term Life Taxable Benefit under Threshold Amount?

(Doc ID 2396761.1)

Last updated on MAY 10, 2018

Applies to:

PeopleSoft Enterprise HCM Payroll for North America - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.

Goal

Canada Revenue Agency has announced that Employers is increasing the threshold to $50.00 (from $25) for reporting Group Term Life Insurance premiums on behalf of retirees when this is the only income reported on the T4A slip.

For these retiree's whose Group Term Life Insurance Premiums are within this threshold, Canada Revenue Agency (CRA) does not require Employers to issue a T4A when this is the only income reported on the T4A slip, the threshold is not met and the recipient has no other tax slips (T4) from the same employer in the same tax year.

Customers may be able to realize improved efficiency and be able to lower costs by not printing these T4A's that are produced and are not required to be issued.

One Customer has requested that CTX910LD sqr be updated to delete any T4A slip records from PS_CAN_YE_tables, if it meets the threshold set by CRA not requiring a slip.  The best way to provide this would be to manage to control the threshold amount outside the sqr so it can be easily changed if the threshold changes by CRA in the future.

 

This is the link to the information from Canada Revenue Agency:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/t4130/employers-guide-taxable-benefits-allowances.html#P860_107067



 

Solution

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