There are some benefits that are not known before the last payroll of the year is run.
Auto benefits is one of these.
I defined benefit 1 for the employee.
Taxable , CPP but EI exempt.
I highlighted the last payrun for the year,
I select to view paychecks in the middle window
and edit the benefit amount.
When I print the T4, income box 14 is increased by the amount entered,
CPP earnings (box 26) shows the original amount before the benefit was entered,
and box 34 shows the amount of the benefit.
How do we handle this?
We have another employer that has the same type of problem with life and medical.
A flat fee is paid by the employee during the year. the amounts of benefits from employer is not known until after all documents are received from the insurer after Dec 31. A calculation is done and apportioned to each employee at that time.
Regards
Thomas