I have a client who wants to match RRSP contributions for employees by providing a once per year lump sum payment to the employee's respective RRSP company (with employee proof that they have personally contributed the same amount). From what I have read on the CRA website, this is considered a taxable benefit . The amount is subject to CPP and EI (both employee and employer share) but not Income Tax deductions.
I am not sure how to enter this in Sage?
Can I increase the amount of CPP and EI deductions on one of their regular pay cheques by manually overwriting the amounts?
Thanks in advance