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D
Dovid Morris
December 15, 2022
Question

CPP Deductions & Basic Exemption

  • December 15, 2022
  • 1 reply
  • 0 views

We have employees that are paid on an hourly basis. With each pay cheque, the correct of CPP is deducted (Gross x 7%). However, at the end of the year, when generating the T4 slips, QB does not seem to take into account the Basic Exemption of $3,500.00. It seems to me that QB should know that for the first $3,500.00 of gross pay per calendar year, CPP should not be deducted, no?

1 reply

A
Amanda-B
December 15, 2022

Hey there Dovid Morris,

 

Thanks for reaching out to us here. Making sure your calculations are correct is important. I would be happy to point you in the right direction for the best assistance.

 

QuickBooks is aligned with government guidelines. If the calculations aren't accurate, I recommend reaching out to the support team outside of the Community. They'll be able to verify your account details in a secure setting, as well as view your screen to see what may be happening. You can reach out to them by following the the method in this link. 

 

If you have any other questions, feel free to reach out to us here.

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