The Bonus Tax Method Explained - Archived Webinar

Certain payments processed through payroll require a special type of income tax calculation referred to as the Bonus Tax Method.

Do you know which types of payments require the bonus tax method for determining income tax withholding? Are you frequently questioned by employees about the amount of tax withheld from bonuses?

Payroll professionals must know when to apply this method of taxation and demonstrate an understanding of this income tax calculation in order to respond to questions from management or employees. Is there another reason – incorrect T4 – employees pay too much/not enough taxes? What’s the consequences for not getting it right?

Join us to learn the types of payments on which the bonus tax method should be applied. We will walk you through the bonus tax calculation, step-by-step, to illustrate how the income tax is calculated. Finally, we will provide some tips on creating a communication plan to explain to your employees why this method of taxation is required and how it impacts them.

During this 90-minute interactive webinar, you will have the opportunity to participate in online polls and ask the speaker questions.

Note: Continuing Professional Education (CPE) hours will be applied to your current cycle at the time of registration.

How to access your archived session:
After registering for an archived webinar, a confirmation containing login information is sent approximately 2 business days after the registration has been processed. If you do not receive the login information, check your email SPAM folder. If it's not there, please contact membership@payroll.ca.

You will have access to the archived webinar 24 hours after receiving the login information.