Dear All,
I need a quick help. Along with the quebec rate chnages and rate corrections for Ontario and other provinces, in SAP note 2104717. SAP released a WAGETYPE change:
"
Wage Type changes
Reduction of the rate of the tax credits for union, professional and other dues:
Due to the reduction to 10% from 2015 and other legal considerations, the cumulation class for WT M500 has to be modified. For Wage type
M500: Cumulation Class 57 should be checked, please uncheck Cumulation Class 56 if checked.
"
We haven't made this change so far, but want to know what is the tax implication with union dues deduction and reduction in tax credit to 10%.
Looking forward to your reply.
Thanks and regards,
Thomas