2021 Year End Payroll Guide Step 1 – Review important dates

We know you're used to payroll deadlines, but Year-End deadlines can be especially nerve-racking since they're critical to ensuring you're compliant with the CRA guidelines. 

To help you navigate this Year-End with ease, we've created this "2021 Year-End Payroll Guide."

This guide includes 4 steps for a successful Year-End:

In this article we'll describe the important Year-End dates to review including:

  • The last pay period of the year 
  • The due date for your last remittance
  • Important dates for T4 filing

Confirm the last pay period of the year

If you need to make any payroll adjustments to account for discrepancies during the tax year, the last pay period is your best (and last) opportunity to process these payroll adjustments. 

Important Note

The "cheque date" of a pay period determines the "tax year" the pay period will be included in.

For example, a pay period that runs from December 1 to 31, 2021, with a "cheque date" of December 31, 2021 will be included in T4s for 2021. However, if that same pay period had a "cheque date" of January 2, 2022 it would be included in T4s for 2022. 

2021 Year-End dates to run Payroll by

To ensure your employees get paid on time, please see the below pay schedule:

Run Payroll by 4:30 pm EST on 20/12/2021 for payment date: 24/12/2021

Run Payroll by 4:30 pm EST on 21/12/2021 for payment date: 29/12/2021

Run Payroll by 4:30 pm EST on 22/12/2021 for payment date: 30/12/2021

Run Payroll by 4:30 pm EST on 23/12/2021 for payment date: 31/12/2021

Run Payroll by 4:30 pm EST on 31/12/2021 for payment date: 07/01/2022

Check if the last period's "pay date" falls on a federal bank holiday

This is important because the deadline to process payroll, for most payroll providers, will be adjusted to the closest business day.

Federal Bank Holiday Date observed
   
Christmas Day Monday, December 27, 2021
Boxing Day Tuesday, December 28, 2021
New Year's Day

Monday, January 3, 2022

How to review important Payroll dates in Humi

You can check the date of your last pay on the "Run Payroll" page under the "Pay day" column. 

In the example below, we can see that the employer has a weekly pay schedule with 52 periods in total. Based on this information, we know the last pay period's "pay date" will be on December 31st, 2021.

Screen_Shot_2021-12-16_at_10.45.27_PM.png

Important Note

If the final pay period's "pay day" falls on one of the federal bank holidays, the "run-by" date will be adjusted to be one business day before the holiday.

Please ensure that you process all payrolls for the 2021 tax year no later than 4:30 pm EST on the last "run-by" date. If you discover any inconsistencies with the 2021 pay period dates or want to customize one or more of the pay period dates, please reach out to support@humi.ca.

Confirm the due date for your last remittance 

Humi Payroll automatically remits your payroll deductions from each pay period to the CRA.

However, if you plan on making independent remittances, please keep in mind that your final due date is based on your remittance schedule for the 2021 tax year.

Screen_Shot_2021-12-22_at_3.33.45_PM.pngSource

Important dates for T4 filing

The first week of January 2022

  • The CRA opens internet filing for T4s and T4 summaries.

The first week of February 2022

  • T4s and T4 summaries are ready for review in Humi Payroll.

February 28th, 2022

  • All T4 slips should be issued to employees by this date.
  • T4 summaries (or T619 for electronic submissions) should be submitted to the CRA by this date.
  • This is the RRSP contribution deadline.

May 2nd, 2022 

  • Employees' personal tax returns should be filed by this date.

  Click here to move on to Step 2: Review Records

  Discover more

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