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M
MB bookkeeper
July 4, 2023
Question

July 1 2023 tax schedule update Manitoba

  • July 4, 2023
  • 3 replies
  • 0 views

Hey!  I jam just starting my first payroll of the week and the Manitoba TD1 amount updated wrong.

It's supposed to be $15,000 and my file updated to $19,145.00.

 

I checked the Quickbooks site and this is what's posted:

 

What's included in the current payroll tax table update?

For the July 2023 tax table update, there are multiple TD1 changes from the January 2023 payroll tax table update.

What's included in the current payroll tax table update?
For the July 2023 tax table update, there are multiple TD1 changes from the January 2023 payroll tax table update.


Tax Table version # 118 117
TD1 Amounts

 

Effective date:    7/1/2023       1/1/2023
Federal               15,000        15,000
AB                       21,003       21,003
BC                       11,981        11,981
MB                       19,145        10,855
NB                      12,458         12,458
NL                       10,382         10,382

 

3 replies

T
Trish_T
July 4, 2023

Hi MB bookkeeper,

 

I appreciate you reaching out here, to ensure accuracy in the latest QuickBooks Payroll tax table.  I feel you would benefit from a personal interaction with a member of our QuickBooks Desktop Support team.  They'll have the ability to review this in more depth and bring it to the attention of our Development Team if necessary.

 

Please don't hesitate to reach back out if you have other questions.  We'd be happy to help!

M
Mbbookie
July 6, 2023

This is definitely wrong. It only increased to $15,000. QuickBooks please correct ASAP.

R
ringettedawn
July 5, 2023

I have the same question - looks incorrect to me also

M
MB bookkeeperAuthor
July 6, 2023

I've done research, and the amount in QB is correct until December 2023.  Here's why:

 

The MB gov't just passed the budget  a short while ago(how could we miss that as the advertisements are everywhere), and they had it in the budget that the exemption would go to $15,000 for 2023.  Because the budget just passed, they couldn't change it for January.  Consequently, all the payroll programs are making an adjustment for July.  As follows:

 

It was supposed to be $15,000 as of Jan. 1st :

15,000 - 10,855 = $4,145.00

 

They are making up for the missed tax savings from July onwards and therefore the exemption will be higher for six months:

 

$15,000 + $4,145.00 = $19,145.

M
Mbbookie
July 6, 2023

That's interesting. Can I ask where you found that? I searched this morning and everything I came across says $15,000. 

M
MB bookkeeperAuthor
July 6, 2023

Hello - yes definitely.

My daughter coincidentally works in HR in a large corporation in Wpg.  They have a payroll with about 250 on it.  Their payroll system (not Quickbooks) also updated to $19,145 and the CFO talked with their payroll provider and was told that the correction was for the first six months of 2023.  

 

 

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