Canada Revenue Agency Redesigns Payroll Statement Form

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By Jared Mondschein

May 17—The Canada Revenue Agency (CRA) will be sending to employers a redesigned Statement of Account for Current Source Deductions, or PD7A, beginning in May 2016, the CRA said in a news release May 16.

The PD7A indicates general payroll information, including gross payroll, number of employees and amounts paid.

Touted as “simple and easy to read,” under the new PD7A:

• the first page will show the most importance information, including remitter type, due dates and year-to-date remittance account balance;

• the second page will include remittance account transactions and arrears account transactions separated in a table format, along with any necessary explanations and

• CRA services will be highlighted, including the online services of Direct Deposit, My Business Account and services for those with hearing or visual impairments.

To contact the reporter on this story: Jared Mondschein at jmondschein@bna.com

To contact the editor responsible for this story: Michael Baer at mbaer@bna.com

For More Information

The announcement is available at http://www.cra-arc.gc.ca/nwsrm/txtps/2016/tt160516-eng.html.

More information on payroll issues in Canada can be found in the Canada country primer.