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:
- Step 1: Review Important Dates
- Step 2: Review Records
- Step 3: Adjust Records (if necessary)
- Step 4: Report and File T4's
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.
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.
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 email@example.com.
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.
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.