New T4 Requirement, 2024 Tax Year: Code 94 & Code 95

CRA has (very quietly) announced that effective this tax year, employers are required to report RPP contributions on tax-exempt employment income utilizing Code 94 at the bottom of the T4 slip. Another change is the new requirement to report union dues related to tax-exempt employment using Code 95.

When can we expect something from Sage regarding this? As I expect many users will have to make changes to their setup (i.e.: deduction codes, etc.) in order to work with the solution Sage releases, I'm hoping the support comes sooner rather than later (before the Jan 2025 update).

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    Hi  , 

    Thank you for bringing this to our attention. Your comments have been forwarded to our team for review and feedback. We understand the importance of timely support for these changes and will keep you updated with any relevant information or solutions.

    Warm Regards,
    Erzsi