Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Prepping the T’s for Tax Season

Time is ticking on T4/T4A season.  With the Friday, February 28 deadline fast approaching, are you procrastinating, preparing or already producing your T4 and T4A Information Returns?

What they are?
A T4 (Statement of Remuneration Paid) is employment income paid during a tax year and the amount of income tax that was deducted.  As well as salary, employment income can be bonuses, vacation pay, tips, honorariums, commissions, taxable allowances, the value of taxable benefits and payment in lieu of notice. Continue reading →

Tagged with: , Posted in: Payroll Direct Deposit, Telpay ASP Partner, Telpay News
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Federal Budget Impacts Canadian Revenue Agency (CRA) Remittances

federal_budget_2014

On February 11, 2014, Finance Minister Jim Flaherty tabled the 2014 Federal Budget, entitled “The Road to Balance: Creating Jobs and Opportunities.” A key point for Telpay customers was the reduction in frequency of CRA Source Deduction remittances for some employers. The Budget proposed to increase the remittance thresholds for CRA Source Deduction remittances for amounts withheld after 2014. Continue reading →

Tagged with: , , Posted in: Payroll Direct Deposit
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

To My Valentine Direct Deposit

direct-deposit-heart

Why do I love my direct deposit service? Let me count the ways. It is for the same reasons that I love paying personal bills with online banking – it’s easy, ultra-convenient and recipients love it!

Reason #1 – It’s Easy
Businesses should always be thinking of ways to become more efficient. Sending money with a few clicks of the mouse is certainly more efficient than dealing with the manual cheque processes – buying cheques, printing, signing, assembling – this is no longer the best way to pay employees or suppliers. Continue reading →

Tagged with: , , Posted in: Direct Payments, Payroll Direct Deposit
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Telpay Sponsors Black Swans

Black Swan Project

Telpay is proud to sponsor Melissa Michalski B.Comm (Hons), CPB and Bea Dabrowski, BA, CPB of the CertPro Accounting Team Inc, who were accepted into the Institute of Professional Bookkeepers of Canada (IPBC) prestigious Black Swan 2 Project.

Jason Olson, Vice President of Strategic Partnerships stated:

“The Black Swan program is tough to get into.  The application process is extremely competitive and only chooses five Certified Professional Bookkeepers (CPB) per year from across Canada.  Telpay is very proud of Melissa and Bea as the first and only ones from Manitoba.” Continue reading →

Tagged with: , , , , Posted in: Payroll Direct Deposit, Telpay ASP Partner, Telpay News
Telpay Payment News
Bringing You Payment Insights, Trends and Best Practices

Goodbye Paper

goodbye-paper

Do you still send invoices, print off emails or write cheques to pay bills? With technology, software and apps, the tools to digitize most or all of your paper needs are now readily available and affordable. To get you started, here are five ways to reduce paper in your office.

Electronic Payments
Interestingly enough when you search the topic online, you will see electronic bill payment right at the top. Guess what? Telpay for Business can help with that one. The more payments you make electronically through Telpay for Business, the less you’ll spend on postage, envelopes and employee time coordinating invoices, cheques, and mailings. You will reduce paper, save money and valuable time.

Continue reading →

Tagged with: , Posted in: Direct Payments, Payroll Direct Deposit, Telpay News