BC EHT replaced the MSP which was eliminated as of Jan. 01, 2020.
To find out more about BC EHT, click HERE.
Activate BC EHT in Your Account
Login to your account, then:
A. Go to SETTINGS
B. PAY RULES
C. COMPANY RULES
D. Enable BC EHT
E. Set a GL Code (to track in your accounting software)
F. Click Edit and enter:
- Account Number (for BC EHT)
- Exemption (per year)
- Rate
- Previous YTD Earnings
- Remittance Frequency
G. Click SAVE
For example:
If you are a registered business with BC remuneration between $500k and $1.5 million, set your exemption to $500k and your rate to 2.925%.
*Note: See HERE for your rate and exemption depending on your organization type.
** If you are starting with PaymentEvolution part way through a calendar year and have already completed some pay runs that would affect your BC EHT, please enter your taxable income to date in this field.
Remitting BC EHT
**NOTE: PaymentEvolution does NOT remit EHT on your behalf
To create your EHT report, at the end of a reporting period:
H. Go to REPORTS
I. ACCOUNTING
J. REMITTANCE
K. Click EHT
Alternatively, if you wish to see the EHT amount per pay, you can use the PAYRUN HISTORY REPORT on this page and select the box to SHOW COMPANY PORTIONS. Use the check boxes on the far left to select a group of pay runs to add up, as required.
Go HERE to find out more about remitting your BC EHT.