Transfer Over-Remittance

Transfer employer’s over remittance to employee with the following S.I.N.

When adjustments reduce total deductions for the company, the employer’s portion of the over-remittance may be transferred to the tax of an owner or shareholder.

When a SIN is entered in this field, any net overpayment of CPP/QPP, EI and PPIP/QPIP resulting from adjustments calculated by the program will be credited to the tax deducted on the T4 of the recipient with this SIN. This adjustment will be reflected in the adjusted tax on the adjustment reports for the particular recipient.

Increase the gross pay of above employee by the amount of over-remittance

If an over remittance is created by the adjustments and the over remittance is being transferred to a specific recipient, you may also increase the gross pay for the recipient in order to keep the net pay at the same level. If this option is chosen and the transferee’s CPP/QPP is under the maximum deduction for the year, the CPP/QPP will NOT be adjusted again for this underpayment.