2014 TD1 Tax Credit Returns Now Available

December is the month to supply employees with their 2014 TD1 Tax Credit returns, which determine how much tax will be withheld from periodic pay cheques throughout 2014. 

The federal form  and provincial forms are now available from CRA. Employers should provide these forms to employees in December.

In addition, commissioned salespeople or those who earn both salary and commissions are must complete form TD1X  before January 31 to determine withholding taxes that take into account commission sales expenses. New employees must provide this form one month after starting with their new employer or one month after any significant changes to personal tax credit amounts.