Payroll changes taking place in 2021
To all Employees:
Several payroll changes will take place in the year 2021. Here is a brief overview. Please visit our website for more details.
Also see this story for CRA information on T2200 forms, employees claiming remote work expenses.
1. CPP/EI Rate change
Canada Pension Plan contribution rates will be increased in 2021 to 5.45% (from 5.25% in 2020).
Employee Employment Insurance contribution rates will remain at 1.58% in 2021.
These changes will affect your net pay.
Please note: Anyone who has made the maximum contribution to his/her CPP/EI last year will notice CPP/EI deductions restarting again, hence your net pay will be lower compared to your December deposit.
2. 26 pay periods will resume in 2021 for staff in the Biweekly pay category
For staff who are categorized under the biweekly cycle (i.e. those who will receive payment on Dec. 31), there are 27 pays in 2020 and you will resume having 26 pays in the year 2021.
3. New TD1/TD1MB/TD1NU Forms
The Government of Canada and Province of Manitoba review the TD1 amount annually and the newest version of the forms are now available in our webpage.
Anyone who has previously claimed an amount other than the basic personal amount or has annual net income over $151,978 is recommended to review and complete a new form for 2021.
4. Changes and the Distribution of 2020 T4 Slips
With all the Covid-19 measures the Government of Canada has introduced in 2020, new codes have been added and are required to be used on the 2020 T4, some staff may receive an additional page of T4 slip because of this.
Please ensure your personal information is up-to-date and accurately listed on the ESS.
All staff who are considered active as of Feb, 8 will receive your T4 electronically via accessing ESS. Should you wish to obtain paper copy of your T4, please complete the form and send to our office by Feb. 5, 2021.
If you have any questions, please contact:
Helen Wong, CPM, MBA
Assistant Manager, Payroll Services
414 Administration Building
Winnipeg, Manitoba ∙ R3T 2N2 ∙ Canada
Phone: 204∙474∙7828 ∙ Fax: 204∙474∙7507