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A successful year-end revolves around – no huge surprise – your year-end documents. So we’ve prepared this article to guide you through Wagepoint’s 2023-2024 review and submission periods, as well as some helpful tips to keep you on track.
How does document submission work in Wagepoint this year?
In short, it will work exactly the same way as last year, using daily submissions!
Simply click “Submit” anytime during the review period of January 2, 2024 at 12:00 am ET to February 18, 2024 at 11:59 pm ET and your file(s) will be transmitted to Canada Revenue Agency (CRA) and Revenu Québec (RQ) within one to two (1-2) business days.
Tips and tricks to help with your year-end documents.
1. You must run a minimum of two (2) payrolls that pay in the 2023 calendar year in order for Wagepoint to prepare and submit your T4/T4A/RL-1 forms. To check if you qualify, please review your payroll reports.
2. Please confirm that you’ve correctly set your “Auto-submit tax forms” status under Settings > Account Settings to indicate how you’d like your year-end forms handled.
- The toggle is set to “Yes” by default, unless you have changed this setting in the past. Make sure that the toggle is set to “Yes” if you wish for Wagepoint to automatically file your year-end forms with the Canada Revenue Agency (CRA) and Revenu Québec (RQ) on your behalf by February 18, 2024 at 11:59 pm ET, in the event that you do not submit them yourself before this date.
- Set the toggle to “No” if you wish to DIY, submitting your own tax forms to the government and your employees.
3. As per the CRA/RQ, the year-end reporting period only looks at pay dates that fall within the calendar year — January to December 2023. In other words, anything you want showing on your 2023 year-end documents must be processed in 2023 and have a pay date in 2023.
4. If you have payrolls that were processed outside of Wagepoint, you must enter the year-to-date amounts into the system in order for the wages and taxes to be included in your year-end reports. If these amounts were not added at the time that the employee was set up in the system, you will also be able to add these to the T4 during the review process.
5. Once your files are submitted, we will generate the final year-end forms in PDF format and make them available to your employees online through the employee portal within 48 business hours. If you have active or terminated employees who don’t have access to their Wagepoint employee accounts online, you will need to print and physically mail or hand out their T4 / T4A / RL1. (You must also request their written permission to use alternate methods of delivery like standard mail.)
- You will need to wait approximately 48 hours after you submit your RL-1 within Wagepoint to access the RL-1 PDFs and Summaries.
Important payroll timelines for 2023-2024 year-end.
|Dates and deadlines|
|Before Nov. 30, 2023||Ensure you set up any employees or contractors who were not paid through Wagepoint but need a T4/T4A/RL-1 for 2023 before you run your last payroll for the year.|
|Dec. 22, 2023||Last date to process a direct deposit payroll for a pay date in 2023 if you are on a standard 3-day processing schedule. If you are unsure of your processing schedule, please reach out to support to confirm your schedule.|
|Dec. 27, 2023||Updates to the payroll tax tables for 2024 will be completed within Wagepoint.|
|Dec. 27, 2023||First date to process a direct deposit payroll for a pay date in 2024 if you are on a standard 3-day processing schedule. If you are unsure of your processing schedule, please reach out to support to confirm your schedule.|
|Dec. 29, 2023||Last date to process a manual payroll for a pay date in 2023 and issue paper cheques or e-transfers to pay employees. Your payroll must be processed by 12:00 pm ET.|
|Jan. 2, 2024||T4, T4A, RL-1 reports for 2023 will be available for review in Wagepoint.|
|Jan. 11, 2024 onward||Employees can begin accessing their individual T4 / T4A / RL-1 forms online through their Wagepoint employee accounts. (This applies to companies that submit their year-end forms within Wagepoint, beginning on January 2.
Please note that, due to CRA’s annual blackout dates, during which they do not accept electronic file submissions, the earliest that Wagepoint can start submitting your electronic forms is January 8, 2024. After January 9, employees will be able to access PDF copies of their T4 / T4A / RL-1 forms approximately 48 business hours after employers submit the forms within Wagepoint.)
|Early February 2024||Québec employers – Print, sign and physically mail or courier the RL-1 Summary report to Revenu Québec to arrive on or before February 29.
Note: Ensure you complete all sections of the RL1 summary, including Section C, to avoid any penalties.
Click here for Revenu Québec address information for mailing in your report.
Please note that you will need to wait approximately 48 hours after you submit your RL-1 forms within Wagepoint to access the RL-1 PDFs and Summaries.
|Feb. 18, 2024||Adjustments to year-end documents will need to be completed by 11:59 pm ET.
Last date to change auto-submit settings for year-end forms.
|Feb. 19, 2024 onward||T4s, T4As, RL1s, T4 summary, and T4A summary reports will be submitted to the CRA/RQ via an electronic bulk submission process for customers whose auto-submit setting is set to “Yes”.|
|Mar. 1, 2024 onward||If applicable, you can request amendments ($10 per amendment) for any year-end reports that have been submitted electronically.|