What is this new tax update at January 31, 2016? Didn't we just update the tax tables at January 1, 2016?
While this is called a payroll tax update, there are actually no tax changes included in this update. It is actually a program update for payroll 7.2 only. Is is a little confusing because it is also called 7.2D, the same as the January 1 update. The new features / fixes included in this update are:
When setting up an advance in the Earnings And Deductions window, the 'Subject to the Following Taxes' field is now available on the Employee tab. This field allows you to specify the taxes that the earning/deduction is subject to, allowing a taxable advance to be paid to an employee
- New T4A Printing and T4A Electronic Filing options are now available. In the January 1 update, the option to assign payroll earnings to a T4A box was introduced, and in this new January 31 update, the ability to print and efile T4As have been added. See T4As in Payroll 7.2 for more detailed info.
This update needs to be installed and activated in the same manner as the January 1 update - see Installing PR Tax Update 7.2D for that methodology. The only differences will be that the file name is ct72d_01312016.exe and the activation screen and the System Information screen (after activation) will show 'Cdn PR Tax Update January 31, 2016'.