Changes to the New Brunswick Government Tables and to the British Columbia Provincial Labour Sponsored Funds Tax Credit Effective July 1, 2022

Varennes, June 2022

 

As announced by the Canada Revenue Agency (CRA) in the T4127 Payroll Deductions Formulas document, available on the CRA's website, modifications to provincial income taxes for the province of New Brunswick and British Columbia have been made and will begin with the first payroll of July. No federal changes have been announced.

This maestro*EXPRESS has been made to guide you through the update of the payroll calculation settings.

 

We would like to remind users that it is their responsibility to validate the appropriate rates and stay updated on any subsequent change. It is therefore recommended to verify the data entered in maestro*. Information included in this document is provided for information purposes only.

 

New Basic Personal Amount in New Brunswick

On March 22, 2022, the Government of New Brunswick announced an increase to the basic personal amount, effective January 1, 2022. Subject to approval by the Government of New Brunswick, the basic personal amount will increase from $10,817 to $11,720.

Since employees have received a lower basic personal amount for the first six months of the year, a prorated basic personal amount of $12,623 will apply for the remaining six months, starting with the first payroll in July.

The new basic personal amount is indicated in the following table, taken from the CRA's website:

In maestro*

 

maestro* > Time Management > Maintenance > Payroll > Government Tables
  1. Under the Provincial Tax tab, select New Brunswick in the Mode field, of the Detail section;
  2. Replace the value in the Basic Deduction field for 12,623;

  1. Click on Save and Quit.

 

British Columbia

The Provincial Labour Sponsored Funds Tax Credit rate and amount have been removed.

In maestro*

 

maestro* > Time Management > Maintenance > Payroll > Define Pension Plan

 

For all employees working in British Columbia, the pension plan management option must be modified to reset to 0 the provincial income tax credit percentage. To do so:

  1. In the Define Pension Plan window, Code field, select the pension plan corresponding to the Labour-Sponsored Fund.
  2. Reset to zero the value in the Prov/State Income Tax Credit % field.
  3. Click on Save and Quit.

 

You can consult the following maestro*EXPRESS to view all payroll changes for 2022: Payroll Modifications Effective January 1, 2022.

For more information concerning these changes, please visit the Payroll Deductions Formulas - 116th Edition Effective July 1, 2022 page of the CRA's website. You can also view the following guides, recently updated by the CRA:

For additional details regarding the required modifications to maestro*, contact Software Support through the Guide portal.

 

Last modification: September 19, 2024