Changes to payroll deductions effective November 6, 2020

The Canada Revenue Agency (CRA) has increased the federal basic personal exemption amount for the 2020 tax year from $12,298 to $13,229.

This change has been implemented in our payroll system for the November 6, 2020 pay deposit.

With this change, some employees may notice a small decline in their biweekly Canadian income tax deduction. Any necessary adjustments to taxes will be reviewed by the CRA when an employee files their personal income tax return.

As a reminder, it is recommended to periodically review your personal tax declarations.

If one of the following scenarios applies to you, please complete a new TD1 Personal Tax Credit Return form:

  • claiming more than the basic personal exemption amounts
  • changing your current claim to the basic personal exemption amount
  • requesting additional tax deductions

Questions regarding this change or newly completed federal and provincial TD1 forms can be forwarded to your HR Representative.