Canadian Payroll Association says moving to electronic T4s would save big
Posted January 23, 2015 5:36 pm.
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VANCOUVER (NEWS1130) – Allowing companies to give workers electronic T4s could save employers $100-million, according to the Canadian Payroll Association.
That group is making that a push for that change during Red Tape Awareness Week.
The group says 95 per cent of workers get their pay using technology, so why not allow employers to distribute T4 slips the same way?
“If you’re an organization with 50 employees or more, you have to provide T4s to [The Canada Revenue Agency] electronically,” says Patrick Culhane, the president of the CPA. “Our perspective is, OK, if you can do that to CRA, why can’t the employers provide those same T4s to their employees electronically?”
Under the Canadian Payroll Association’s proposal, the 16 percent of workers who it says still want a paper copy would have that option.
“Our position on that, is if the employee doesn’t have access to a computer or some other electronic means, such as an iPhone, a Blackberry, whatever the case might be, that the employer would then provide that individual with a T4 in paper,” Culhane says.
The CPA states each paper T4 slip ends up costing an estimated $5.
