What's new for payroll

• Payroll tables, TD1, and more

• 2006 Automobile Deduction Limits and Expense Benefit Rates for Business Confirmed (Finance Canada Web site)

• Employment Insurance Premium Reduced to $1.87 for 2006 (Finance Canada Web site)

• CPP pensionable earnings ceiling for 2006 up to $42,100

• The Government of Canada has concluded an agreement with the province of Quebec to establish the Québec Parental Insurance Plan (QPIP).

• Original and amended T4, T4A, T4RSP, T4RIF, and T4A-NR returns can now be filed using our Internet File Transfer (XML) option. This is available for employers and payers who use payroll software. For information, contact your software publisher, or visit T4 Internet Filing or Filing on Magnetic Media.

• You can use the Automobile Benefits On-line Calculator to calculate the estimated automobile benefit for withholding purposes.

• For the 2005 tax year (reporting in 2006), a fisher’s income can be reported on either a T4F slip or a T4 slip. It will be mandatory to report fisher’s income on a T4 slip starting with the 2006 tax year (reporting in 2007).