Deck 12: Important Information About T4 Forms and Filing Requirements

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Question
Employers are welcome to continue using paper T4 forms no matter how many employees they have.
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Question
It is permissible to send different versions of T4s to CRA than the employee receives.
Question
A separate T4 summary will need to be filed for every employee on payroll.
Question
Repeat offenders for late filing of the Ontario Health Tax Return may face stiffer penalties than first offenders.
Question
Employers may be exempted from paying the Ontario Health Tax if their Total Ontario Remuneration falls below the annual exemption threshold.
Question
First time offenders who file the Ontario Health Tax Return late may face penalties of up------------ to of the tax owing.

A) 50%
B) 38%
C) 8%
D) 17%
E) 20%
Question
How many copies of each T4 at minimum are required?

A) 2
B) 3
C) 5
D) 4
E) 1
Question
If an employer has greater than-------------- employees, they must submit T4selectronically through the internet.

A) 50
B) 25
C) 500
D) 5
E) 100
Question
Include this in Box 14 of the T4:

A) All employment income less deductions made for the year
B) All salary and wages excluding bonus and vacation pay
C) All federal and provincial taxes deducted
D) All employment income before deductions
E) All salary, wages, severance, RRSP payments, and bonuses
Question
If an employee is under the age of 18, what additional T4 box will need to be adjusted for them?

A) Box 44
B) Box 26
C) Box 24
D) Box 22
E) Box 28
Question
When are personal tax filings typically due?

A) By April 15th of the subsequent year
B) By April 30th of the subsequent year
C) By April 1st of the subsequent year
D) By the last day of February of the subsequent year
E) By December 31st of the current year
Question
When must the T4 slip be submitted to the Canada Revenue Agency by?

A) By April 15th of the subsequent year
B) By April 30th of the subsequent year
C) By April 1st of the subsequent year
D) By the last day of February of the subsequent year
E) By December 31st of the current year
Question
The Ontario Workers Compensation Reconciliation Form is due by:

A) The last day of February of the subsequent year
B) April 30th of the subsequent year
C) March 31st of the subsequent year
D) April 15th of the subsequent year
E) December 31st of the current year
Question
The Ontario government requires that employers submit an Ontario Health Tax Return by:

A) April 15th of the subsequent year
B) March 31st of the subsequent year
C) December 31st of the current year
D) The last day of February of the subsequent year
E) April 30th of the subsequent year
Question
What do you do if you do not have the SIN when completing a T4?

A) Do not file the T4
B) Leave it blank
C) Enter nine 0's
D) Enter nine 9's
E) Use your SIN
Question
This deductions from Gross Earnings is not allowed in the annual Workers Compensation Reconciliation Form.

A) Non-insurable gross earnings for out of province workers
B) Executive Officer's earnings
C) Excess earnings over the assessable maximum per employee
D) Contractors' Earnings for contractors not supplying a clearance certificate
E) Non-insurable gross earnings
Question
If the Ontario Workers Compensation Reconciliation Form shows that the total premium owed is less than the total premium remitted for the calendar year, a(n)______ must accompany the filing.

A) Cheque
B) Gift
C) Explanation
D) Resignation
E) Apology
Question
If an employee worked in more than one province or territory during the year the employer should:

A) Leave off the amounts earned in the lower income province
B) Create a separate T4 slip for the earnings and deductions that apply to each province or territory
C) Total the amounts and create one combined T4
D) Put a note in the "Other Information" area at the bottom of the T4 explaining the complication
E) List the province of employment as the location where the most income was earned
Question
If there is a balance in this line of the T4 summary, you will need to send payment upon filing.

A) Line 80
B) Line 82
C) Line 84
D) Line 86
E) Line 88
Question
What are the possible penalties for failing to file T4s and the T4 summary by the due date?

A) Public reprimand
B) Monetary penalties
C) Community service
D) Removal of operating privileges
E) Incarceration
Question
What do employees use T4 forms for?

A) To apply for Workers Compensation
B) To include in their annual Christmas Cards
C) To prepare and submit their personal income tax return
D) To prepare and submit the company income tax return
E) To apply for Employment Insurance benefits
Question
Ontario Health Tax payable is based on:

A) Total Canada Pension Plan Contributions
B) Total Ontario Remuneration
C) Total Net Pay
D) Total Vacation Payable
E) Total Employment Insurance Premiums
Question
Why is January such a busy time for payroll administrators?
Question
What is a T4 Summary? Who completes it? When must it be filed?
Question
Create a version of a year-end checklist that you could use for working as a payroll administrator in a small to medium size business.
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Deck 12: Important Information About T4 Forms and Filing Requirements
1
Employers are welcome to continue using paper T4 forms no matter how many employees they have.
False
2
It is permissible to send different versions of T4s to CRA than the employee receives.
False
3
A separate T4 summary will need to be filed for every employee on payroll.
False
4
Repeat offenders for late filing of the Ontario Health Tax Return may face stiffer penalties than first offenders.
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Unlock for access to all 25 flashcards in this deck.
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k this deck
5
Employers may be exempted from paying the Ontario Health Tax if their Total Ontario Remuneration falls below the annual exemption threshold.
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
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k this deck
6
First time offenders who file the Ontario Health Tax Return late may face penalties of up------------ to of the tax owing.

A) 50%
B) 38%
C) 8%
D) 17%
E) 20%
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Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
7
How many copies of each T4 at minimum are required?

A) 2
B) 3
C) 5
D) 4
E) 1
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8
If an employer has greater than-------------- employees, they must submit T4selectronically through the internet.

A) 50
B) 25
C) 500
D) 5
E) 100
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Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
9
Include this in Box 14 of the T4:

A) All employment income less deductions made for the year
B) All salary and wages excluding bonus and vacation pay
C) All federal and provincial taxes deducted
D) All employment income before deductions
E) All salary, wages, severance, RRSP payments, and bonuses
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Unlock for access to all 25 flashcards in this deck.
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10
If an employee is under the age of 18, what additional T4 box will need to be adjusted for them?

A) Box 44
B) Box 26
C) Box 24
D) Box 22
E) Box 28
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11
When are personal tax filings typically due?

A) By April 15th of the subsequent year
B) By April 30th of the subsequent year
C) By April 1st of the subsequent year
D) By the last day of February of the subsequent year
E) By December 31st of the current year
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
12
When must the T4 slip be submitted to the Canada Revenue Agency by?

A) By April 15th of the subsequent year
B) By April 30th of the subsequent year
C) By April 1st of the subsequent year
D) By the last day of February of the subsequent year
E) By December 31st of the current year
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
13
The Ontario Workers Compensation Reconciliation Form is due by:

A) The last day of February of the subsequent year
B) April 30th of the subsequent year
C) March 31st of the subsequent year
D) April 15th of the subsequent year
E) December 31st of the current year
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Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
14
The Ontario government requires that employers submit an Ontario Health Tax Return by:

A) April 15th of the subsequent year
B) March 31st of the subsequent year
C) December 31st of the current year
D) The last day of February of the subsequent year
E) April 30th of the subsequent year
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Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
15
What do you do if you do not have the SIN when completing a T4?

A) Do not file the T4
B) Leave it blank
C) Enter nine 0's
D) Enter nine 9's
E) Use your SIN
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
16
This deductions from Gross Earnings is not allowed in the annual Workers Compensation Reconciliation Form.

A) Non-insurable gross earnings for out of province workers
B) Executive Officer's earnings
C) Excess earnings over the assessable maximum per employee
D) Contractors' Earnings for contractors not supplying a clearance certificate
E) Non-insurable gross earnings
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
17
If the Ontario Workers Compensation Reconciliation Form shows that the total premium owed is less than the total premium remitted for the calendar year, a(n)______ must accompany the filing.

A) Cheque
B) Gift
C) Explanation
D) Resignation
E) Apology
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
18
If an employee worked in more than one province or territory during the year the employer should:

A) Leave off the amounts earned in the lower income province
B) Create a separate T4 slip for the earnings and deductions that apply to each province or territory
C) Total the amounts and create one combined T4
D) Put a note in the "Other Information" area at the bottom of the T4 explaining the complication
E) List the province of employment as the location where the most income was earned
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
19
If there is a balance in this line of the T4 summary, you will need to send payment upon filing.

A) Line 80
B) Line 82
C) Line 84
D) Line 86
E) Line 88
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Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
20
What are the possible penalties for failing to file T4s and the T4 summary by the due date?

A) Public reprimand
B) Monetary penalties
C) Community service
D) Removal of operating privileges
E) Incarceration
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
21
What do employees use T4 forms for?

A) To apply for Workers Compensation
B) To include in their annual Christmas Cards
C) To prepare and submit their personal income tax return
D) To prepare and submit the company income tax return
E) To apply for Employment Insurance benefits
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
22
Ontario Health Tax payable is based on:

A) Total Canada Pension Plan Contributions
B) Total Ontario Remuneration
C) Total Net Pay
D) Total Vacation Payable
E) Total Employment Insurance Premiums
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
23
Why is January such a busy time for payroll administrators?
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
24
What is a T4 Summary? Who completes it? When must it be filed?
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
25
Create a version of a year-end checklist that you could use for working as a payroll administrator in a small to medium size business.
Unlock Deck
Unlock for access to all 25 flashcards in this deck.
Unlock Deck
k this deck
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Unlock Deck
Unlock for access to all 25 flashcards in this deck.