Payroll News & Notices
2021 Tax & T2200(S) Update
Please see the Tax & T2200S Update for information and details on claiming remote work expenses and the T2200(S) form.
Seasonal Closure: Important Timesheet and Payment information
UFV will close for its annual seasonal closure at noon on Friday, Dec 24 and reopen on Tuesday, Jan 4, 2022.
Please submit all coded and approved cheque requests and invoices by Friday, Dec 10. The final cheque run of 2021 will be on Thursday, Dec 16 and the first cheque run of 2022 will be Thursday, Jan 6.
All employees who are paid by timesheet are encouraged to estimate the number of hours up to Friday, Dec 24 and submit your authorized timesheet to the payroll office by 3 pm, Thursday, Dec 16. The final pay of the year — December 31 — will be paid on Thursday, Dec 23. Any adjustments to your estimated hours should be indicated on your first timesheet in January.
All time sheets received after Thursday, Dec 16 will be processed and paid on Friday, Jan 14, 2022. Timesheets are due in payroll by 3 pm on Friday, Jan 7, for payment on Jan 14.
Each pay period, please remember to access the fillable timesheet form available on our website. Please familiarize yourself with our payroll website as it contains helpful information such as upcoming deadlines, ROE request instructions, payroll schedules, direct deposit form, links to Canada Revenue Agency and Service Canada, name and address change forms, etc. You will also find information regarding upcoming changes to payroll legislation, salary tables, and statutory holidays.
New Tax Forms for 2021
If you had claimed any amounts others than the "Basic Personal Amount" on your 2020 TD1 or TD1BC forms please make sure you review your claimed amounts for 2021. The new Federal TD1 and Provincial TD1BC are available at https://www.ufv.ca/finance/payroll/tax-information/. If you are not sure what you should claim, please use the TD1 worksheet and/or TD1BC worksheet also available at this link.
2021 Canada Pension Plan and Employment Insurance Rates:
Canada Pension Plan (CPP):
For 2021, the maximum pensionable earnings are $61,600 and the basic exemption for the year is $3,500. The contribution rate for employees is 5.45%. The maximum an employee can contribute for the year is $3,166.45.
Employment Insurance (EI)
For 2021, the maximum annual insurable earnings are $56,300 and the EI premium rate is 1.58%, for a maximum annual premium of $889.54
T4 Forms – All Years
All T4 forms for years up to 2020 are always available on MyUFV. For instructions on how to access your T4 please visit our Tax Information page and scroll to the bottom of the page.
For assistance getting access/logging on to MyUFV please contact IT Services email@example.com or 604-864-4610.
Next Stat Holidays
For hourly employees, please only record statutory holidays on your timesheet if they were actually worked and include a comment for your supervisor's verification.
For a complete list of current year Statutory Holidays, please visit Human Resources website.