July 1, 2020
July Life Lines Newsletter Now Available
June 29, 2020
Human Resources 2019 T4 remuneration slips are now available to McMaster employees through Mosaic self-service.
Employee T4 Statement of Remuneration Paid:
Additional tax slips for students, special employee arrangements and independent contractors (T4A/T4ANR and T2202):
2020 Proposed Changes to the Federal Basic Personal Exemption
For the 2020 tax year, the Canada Revenue Agency (CRA) is introducing a variable basic personal exemption amount based on an individual’s net income. The university is making a plan to deal with these changes.
As a result of the timing and complexity of the proposed changes, the Canadian Payroll Association (CPA) has challenged the CRA to have the administrative changes reviewed by the Minister of National Revenue. Further, the CPA has recommended “no further implementation or payroll system development related to these administrative changes take place until the CRA conducts a thorough review.”
For more information on the proposed changes or the Canadian Payroll Association’s response to the Minister of National Revenue, please visit the following:
Employees are encouraged to review their personal tax situation and consider updating their Federal and Provincial TD1 Forms for the current tax year if their situation has changed. For questions regarding the Federal Basic Personal Amount or for the submission of updated TD1 forms, please contact your HR Advisor.
July 1, 2020
June 29, 2020