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How to Cut Out Wage Attestation For Free

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are going to cover how to complete a wage certification we are covering it at this point of the year because we are headed into our busy season with school districts receiving lots of requests for wage certifications mainly for service retirement or for refund a lot of our members when they go to retire theres two busy seasons theres the july and the january retirees by um july 1st most of our members should have their 120 days worth of service credit um and then some of our or a handful half of our members could receive 120 days from july to january so it just depends on your employee where theyre at with their service credit and their retirement times time frame so but we decided to cover the wage certification webinar at this point because starting now or even a few months ago you probably started receiving a lot of uh requests to complete a wage certification so for this webinar we are going to cover the different types of certifications that youll receive notification to comp

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Do you have to pay back the Canada Emergency Wage Subsidy?

Federal Wage subsidies and hiring program repayment If you are unable to pay back the wage subsidy online through MyBA, My Payment, or online banking, you can return all or part of a wage subsidy payment by direct deposit or cheque, depending on your situation. The payment will be returned to CRA.

What is RC 661?

RC661 Attestation for owner/managers and/or senior employees (comptroller/VP Finance/CFO) of an eligible employer applying for the Canada Emergency Wage Subsidy or the Canada Recovery Hiring Program - Canada.ca.

Does Cews have to be paid back?

CEWS recipients may have to repay the CEWS if they (i) amend or cancel an application (ii) made a calculation error in their application (iii) receive a notice from the CRA indicating that following a review of their CEWS, their claim has been reduced or denied.

Who is eligible for temporary wage subsidy?

Whos eligible for the subsidy? The temporary wage subsidy is available to eligible employers who have one or more eligible employees and had a Business Number and a Payroll Program account on March 18, 2020.

Should Cews be recorded as income?

Both subsidies are taxable in the fiscal year they are received. As such, the receipt of TWS or CEWS subsidies is not expected to result in a temporary difference for tax provision purposes.

How do I repay Cews?

There are many ways to repay a CEWS, CRHP and CERS and balance may differ from other programs: My Payment. My Business Account (MyBA) MyBA - Pay later. Online banking. Make a payment by mail using cheque or money order. Return the original CEWS, CRHP or CERS cheque by mail to: Return a payment made through direct deposit.

What is a T2 schedule 125?

T2 Schedule 125 T2SCH125, Income Statement Information, is a required schedule that should be filed with a T2. This schedule applies to expenses and revenue that are related to your corporation. Depending on your industry, this is divided into farming and non-farming expenses and revenue.

Is the wage subsidy in NZ taxed?

The reason the wage subsidy is taxable to the self-employed but not taxable to businesses is because payments of salary and wages paid to employees of a business that has received a wage subsidy are still taxable to the employee.

How do I record CERS?

CERS applications can be done through the application portal. Apply to create your CERS account number through My Business Account or Represent a Client, where youll also file your application, after calculating your subsidy through the CERS Portal.

What happens if I miss the Cews deadline?

After a deadline has passed, the CRA will only consider a late application if: It is evident that an attempt to file was made but an identified CRA secure portal outage prevented filing.

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