Fix T4 reporting dropdown typo in Candian Payroll Earnings and Deduction icon. Choices read "Non-taxable-Include in box 14 and 40". It should read "Include in box 14 and 40". Box 40 taxable benefits also go to box 14. The same is true for the other similar dropdowns.
by: Clay J. | over a year ago | Payroll
Comments
I don't believe that's a typo. Normally you don't need to use the drop-down to put something in Box 14 -- it goes there automatically by virtue of being taxable. So if you have a benefit that you don't attach taxes to, then it is de facto non-taxable. But in some cases you won't deduct tax from a benefit but still want to include it in box 14. Which is when you use this option, and which is why it is basically labelled "This is non-taxable, but include in box 14 and 40 anyway"