What payroll forms and exemptions will I need?

Here are important forms and exemptions to be aware of when doing your small business payroll.

  • TD1 form (federal and provincial) - This dictates how much income tax is withheld from employee paycheques.
  • TD4 - Declaration of Exemption - Use this for special allowances for lodging, trucking and transportation.
  • T2200 - Employers must provide this if the employee (typically a sales person) was required to pay for their own employment expenses and was not reimbursed or provided an allowance (travel, cell phone, home office, meals and entertainment).
  • T777S - Statement of Employment Expenses for Working at Home Due to COVID-19
  • CPT30 - Elect to stop CPP contributions.