What's new > AgExpert Analyst 2022 > 2022-02 Payroll Update

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« AgExpert Analyst Knowledge Base

  • The base amount for Class 10.1 purchases has been update from $30,000 to $34,000 as of January 1st, 2022.  This will directly impact the GST/HST that you can claim on these purchases to a new maximum amount, and the depreciation taken on new purchases.  Any purchases before January 1st, 2022, will still use the $30,000 base.
  • A change has been made to the New Brunswick TD1 that is retrospective to January 1st, 2022.  If you are using the TD1 Index tool to update existing employees, you will need to override the index rate to 1.167 for the software to properly calculate the TD1 increase as of July.
  • As is typical this time of year, we have updated the payroll tables from July 1st, 2022, to December 31st, 2022.  Please take a few moments to familiarize yourself with the changes made in this payroll period.  Make sure to update your employees’ TD1 numbers as well, as AgExpert Analyst does not update this information for you.

Last updated on June 24, 2022 by FCC AgExpert