RADAR, Issue 08, January 2021
RADAR, Issue 08, January 2021
Happy new year! 2021
Welcoming the New Year
The change of calendar year ushers in tax-filing season. There are many resources to help you to be ready.
- If you believe you have had an overpayment in the past year, ensure it is reported to MyPay immediately! This can help minimize the risk of you having to pay tax on the overpayment.
- T4 and RL-1 tax slip availability dates will be announced in February. Find out how to obtain yours.
- If there has been an error on your tax slip, an amended slip will be produced and sent directly to the Canada Revenue Agency (CRA) and/or Revenu Québec. The amended tax slip schedule will identify when those tax slips may be expected.
- Remember that the CRA will automatically reassess your taxes if new slips are issued for any of the past 3 years. If you receive tax slips for years prior to these past 3 years, you must request a reassessment from the CRA.
- If you require tax advice to better understand tax implications of Phoenix-related pay issues, you can claim expenses of up to $200 per year (taxes included). Find out how to file for a reimbursement.
Did you know?
- The Supplementary Death Benefit plan applies to most members of the public service pension plan. It is a life insurance plan which, should anything happen to you, is payable upon your death. You should designate a beneficiary for this benefit. You can watch the Pension Centre video to find out how.
- When you change your address, in addition to updating it in PeopleSoft for pay purposes, you also need to update it with the Pension Centre, using the pension application in the CWA. There is a Pension Centre video to show you how. Don’t forget to also update your address for the Public Service Health Care Plan and Public Service Dental Care Plan (Sun Life and Canada Life).
- You can obtain your benefits information from MyGCPay. Ensure you are enrolled for benefits and obtain your certificate numbers for medical and dental coverage, as well as links to the insurance providers. If you are unsure which benefits you are entitled to, consult the Benefits Entitlement Chart.
IN CASE YOU MISSED IT
- Interested in taking Leave with Income Averaging? Your Life Events advisor can help.
- Recovery of pension arrears
- Overpayments - 2020 tax season
USEFUL LINKS
- Federal payroll deductions job-aid
- You and your pension plan videos
- Signing up for the Public Service Health Care Plan
- Benefits Entitlement Chart
- Public Service Dental Care plan member booklet
- The Pay Stub Explainer can help you to understand your deductions.
DEDUCTIONS THROUGHOUT THE YEAR
This is an example of one employee’s pay progression throughout 2020. The timing of the events will change depending on the year and depending on your annual salary.
- START OF YEAR (January)
- Full CPP and EI deductions, Low PSSA (Pension) contribution deducted
- 3 PAY MONTH (April)
- First pay of the month will be higher with no deduction for union dues, PSHCP or others
- CPP and EI MAXIMUM CONTRIBUTION REACHED, 3 PAY MONTH (September)
- PSSA (PENSION) CONTRIBUTION CHANGES from LOW to HIGH (October)
- Increased PSSA contribution for the rest of the year
- RETROACTIVE PAY (November)
- Following collective agreement implementation
Viewing your pay using MyGCPay shows how it varies throughout the year. In addition to pay increments, actings, overtime or other events that change your gross pay, your deductions change throughout the year also. In months in which you receive 3 pays, the first pay is higher because certain deductions are not taken. And, depending on your overall salary, you may come to a point later in the year when you have reached the maximum contribution to CPP and EI. No further CPP and EI deductions will be taken for the remainder of the year. If this applies to you, you will notice on a subsequent pay that your pension contribution changes from a low rate to the high rate. When the new year comes, your contribution cycle starts over again.
To learn more about why your take home pay changes throughout the year, see PAY STUB TIP #5.
Designating a delegate
Some DFO employees who work remotely, in the field or at sea, may not be able to contact MyPay if they have a pay issue. If you are in this situation, you can designate a delegate, someone who can discuss pay and benefits information with MyPay on your behalf.
Find out how to designate a delegate.
MANAGER’S CORNER
Let’s start this new year on the right track with staffing timeliness resolutions!
As a manager, did you know that you can ask your HR Advisor for information about your upcoming contract terminations? This will allow you to effectively plan temporary staffing actions and help you submit your required extensions in a timely fashion.
For more information, please contact your HR Advisor.