The CRA now allows for the amendment of T4s online through the My Account and Rep a Client login.
We can amend an individuals return without having to make updates and refiling the whole package in TaxPrep forms. Once you are logged in to the businesses CRA account, you can get to the amendment by going through the following:
- Click on the Payroll Account,
- Click on the “Returns” tab,
- Click on “Processed” hyperlink on the year you would like to amend,
- Scroll to the bottom and click “View Slip Information”,
- Check the box of the staff you would like to amend, then scroll down and click “Amend”,
- Note: This will only appear once you have selected a return to amend, and
- From there you can follow the instructions on filing the amendment.
The challenging part of doing this is at the end it will try to calculate what your refundable, or payable amount of taxes are. The system just calculates the total employer and employee portion of CPP and EI, as well as Income taxes deducted as the total payable, so you will need to fill in the box with the actual amount that has been paid to the CRA for that staff to get the correct payable.
For questions or concerns, please reach out to Kevin Schweyer.