Dealing With an Additional Payday in a Taxation Year

Every eleven years organizations processing payroll using a bi-weekly pay frequency can experience 27 pay periods. With a weekly pay frequency this may occur every seven years where there can be 53 weekly pay periods. Does this mean that employees may be getting an extra pay or will the employees experience a reduction in the amount they are being paid?

A payroll Best Practice is to prepare a schedule prior to processing your first payroll of the New Year in order to forecast the number of pay dates in the upcoming calendar year. This will determine if there is an extra pay period in the year, allowing you to apply the correct Canada Pension Plan and Quebec Pension Plan exemption each pay and review earnings, deductions and benefits that are scheduled to run each pay period.

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You will learn:

  • What is the extra pay period
  • How to prepare for it
  • HR considerations
  • Affect on tax withholdings
 

This webinar will be facilitated by Payroll Compliance Advisors from the Compliance Services and Programs department at the Canadian Payroll Association. This informative webinar will include answers to live and pre-submitted questions. Participants are invited to submit their questions in advance by e-mailing Webinars@payroll.ca before September 15, 2019.

After registering online for this event, you will receive an email confirmation. Confirmation emails are sent approximately 2 business days after the registration has been processed.

Three business days before the live event, you will be sent the link to access the webinar on the scheduled day.

Detailed instructions on accessing the webinar will be emailed to you on the morning of the event.

Cancellations must be received at least 4 business days prior to the webinar date to be eligible for a refund. No refunds will be issued after the login information has been provided.

LENGTH: 90 Mins