EI Insurable Earnings and CPP Pensionable Earnings

[bellarose]

Time Trex does not appear to have the built-in capacity to handle these mandatory amounts that appear on T4 slips.

There are several issues in simply including the amount that appears in Box 14 for both:

Issue 1) Amounts greater than the maximum annual insurable earnings amount (See http://www.cra-arc.gc.ca/tx/bsnss/tpcs/ ... f-eng.html) would not be taken into account.
Issue 2) Amounts greater than the maximum annual pensionable earnings amount (See http://www.cra-arc.gc.ca/tx/bsnss/tpcs/ ... f-eng.html) would not be taken into account either.
Issue 3) Age limits for CPP contributions are not taken into account either.

I posted about this some time ago asking what fields to include in Box 24 and someone also appended a question for Box 26. (See http://forums.timetrex.com/viewtopic.php?f=2&t=6397) I followed the solution for the CPP age limits found at the bottom but I am not satisfied that the solution offered would actually stop adding amounts for the Pensionable Earnings once the maximum annual limits for CPP earnings was reached. That is, the method described has rule that indefinitely takes 100% of all earnings, and adds it to a Pensionable Amounts Account with nothing stopping it at the maximum amount of earnings because this rule is detached from the CPP Calculation Formula.

One temporary solution to this is to follow the instructions found at the bottom of http://forums.timetrex.com/viewtopic.php?f=2&t=6397 but instead of using the percent, use the Advanced Percent and input the Annual Wage Base/Maximum Earnings value to 52500 (2014 Values).

A solution for EI is to create a similar rule to that's found at the aforementioned form topic but do not change the EI Employee Deduction calculation rule and setting the Annual Wage Base/Maximum Earnings value to 48600 (2014 Values).

These values do have to be updated every year in order to accommodate the annual changes.

Ideally this would be nice to have for future releases

Other than this minor thing, TimeTrex is an amazing piece of software! Speaking on behalf of a small, non-profit community theatre with 1 full time employee and 46 casuals (who make less than $900.00 a year) we are grateful to the developers who have made this Community Edition available to us. Thank you!

[shaunw]

TimeTrex won't put an amount on the T4 that exceeds the limit, so even if the pay stub accounts you select for pensionable earnings adds up to $100,000 TimeTrex would just use the proper maximum value (ie: 52500) instead. It does not do this for other boxes on the T4 though, like CPP contributions and EI premiums deducted, which you wouldn't want it to do.

So I don't think your temporary work around is required, at least as far as the T4's are concerned.