Notes on Taxes and Remittances in Wagepoint 1.0

✨Note: This year-end KIT is intended for Wagepoint 1.0 users. If you’ve upgraded to Wagepoint 2.0, here is the Wagepoint 2.0 year-end KIT. ✨

Tax rate updates for 2025.

December 27, 2024 will be the earliest date to process your first payroll for 2025. Updates to the payroll tax tables for 2025 will be completed within Wagepoint by this date.

Employees with tax reduction at source or reduced EI rates.

• Employees with reduction at source deductions can apply to the Canada Revenue Agency (CRA) in November – there’s no need to wait until 2025! This can be done using the T1213 form.
  
• If any of your employees receive a CRA-issued “Tax Reduction at Source” notice, please send a copy of the form to support@wagepoint.com so that we can make the necessary adjustments on our end. You can also submit a ticket directly from within Wagepoint.
  
• If your company is subject to a NEW reduced EI rate, email support@wagepoint.com and provide the EI rate before you process your first payroll for 2025.

Provincial employer taxes.

Employer Health Tax (EHT) in Ontario

• Please note that EHT exemptions will restart for the first payroll of 2025. 
• Wagepoint can only handle the EHT remittances on your behalf. Ensure you complete and file the EHT Annual Return by the deadline of March 14, 2025 either via mail or online using ONT-TAXS. 
• Please note that Wagepoint does not monitor your payroll once EHT is set up. If you exceed a payroll of $5M dollars, you do not qualify for the $1M exemption and will owe an additional $19, 500 in EHT premiums. You will need to notify us of this should it happen and be needed. 
• Click here for more information on EHT.

Health Services Fund (HSF) in Québec

• Update the HSF rate in the Company > Company info tab. The update must be made after you run your last payroll of 2024 (that pays in 2024), once reports are available, but before you run your first payroll in 2025 (that pays in 2025). 
• Click here for more information on HSF.

Contribution related to Labour Standards in Québec

• This is an annual employer contribution that should be reported and paid using the remittance slip of the RL-1 summary by February 28, 2025. As the employer, it is your responsibility to make this payment outside of Wagepoint. 
• Click here for more information on the Contribution related to Labour Standards.

Updates to CRA remittance schedules.

If you have received any notifications from the CRA regarding a change to your current remittance schedule, please update your Remittance Schedule in the Company > Company info tab with your new frequency for 2025. The update must be made after you run your last payroll of 2024, once reports are available, but before you run your first payroll in 2025.

We’re here to help.

Contact Wagepoint’s customer support by submitting a ticket directly within the app, or sending us an email to support@wagepoint.com.

Written by Kasia Wind

Kasia Wind is a Strategic Communications and Projects Manager at Wagepoint. As a kid, she wanted to become a talk show host like Jenny Jones (it didn't work out). A believer that storytelling is the best way to connect, Kasia has created content for audiences including small businesses, bodybuilders and doctors. Oddly, her own stories often involve getting injured in hilarious ways.

More content from author